(AOF) – Abivax announces that its cash flow as of June 30, 2023 amounts to 114.4 million euros compared to 27.0 million euros at the end of 2022. The biotech specialist in immune response in patients suffering from chronic inflammatory diseases specifies that its cash flow of 118 million euros in August should allow the financing of its operations “until the end of the second quarter of 2024”. The group recorded a net loss of 53 million euros in the first half compared to 21.2 million euros a year ago.
“In 2023, we successfully completed an equity financing of 130 million euros, as well as two structured debt agreements totaling 150 million euros, with a net amount of the first tranches of 27 million euros”, declared Didier Blondel, Financial Director of Abivax.
“These resources will primarily be used to advance recruitment in our Abtect Phase 3 clinical program with obefazimod for the treatment of patients with moderately to severely active ulcerative colitis,” it said.
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