(AOF) – Abivax (+0.78% to 10.38 euros) has positive prospects, three months after its introduction to the Nasdaq last October, which allowed it to raise a gross amount of 235.8 million dollars ( 216.39 million euros). The biotech specialist in chronic inflammatory diseases estimates that its operations would be financed until the announcement of the first results of the Abtect induction trials in UC (ulcerative colitis) in the first quarter of 2025.
Its current resources could also allow it to finance itself until the announcement of the first results of its Enhance-CD induction trial in CD (Crohn’s disease) planned for the second half of 2025.
“Our American office was recently inaugurated and we have managed to recruit a very experienced team, with a particular focus on the United States,” explains CEO Marc de Garidel. “For 2024, our priority remains the completion of patient recruitment in the phase 3 induction studies of the Abtect program.”
To ensure long-term financing and expand its current cash flow, Abivax is “implementing a strategic, multi-pronged financing approach to fund its additional projects as well as the expansion of its clinical, medical and commercial capabilities.” .
The publication of its financial results as of December 31, 2023 is scheduled for April 2, 2024.
AOF – LEARN MORE
Learn more about the Pharmacy sector
Oncology, priority of pharmaceutical giants
Sanofi’s stock market disappointment recorded at the end of October 2023 underlines the new direction for the group, which has now set oncology as its number 1 priority. Efforts in this segment, where therapies are advancing the fastest, notably involve investments in R&D which weigh on profitability. Sanofi therefore announced a drop in its earnings per share in 2024 and the abandonment of its objective of an operating margin of 32% in 2025. Merck has just unveiled a new alliance. It will pay up to $22 billion to the Japanese group Daiichi Sankyo as part of a partnership on experimental cancer treatments. While some experts estimate that the United States represents nearly half of global oncology spending (drugs and treatments), or $196 billion in 2022, Chinese spending in this area has more than doubled in five years, going from 5 to 11.8 billion dollars.