(CercleFinance.com) – Abivax is making progress on the Paris Stock Exchange this Monday after taking stock of its strategic prospects for 2024, as well as the main milestones to be expected over the next 12 months.
The company, which is part of the ‘top 5’ of biotechnology companies that raised the most capital last year, says it is ‘on the right track’ to execute its roadmap presented in September 2023.
The biotech says it is already starting to prepare for the commercialization of obefazimod, its main project, which will be the subject of first phase 3 results in ulcerative colitis (UC) in the first quarter of 2025.
At the same time, Abivax says it has received new drug status
investigational (IND) for a phase 2 study of obefazimod in Crohn’s disease (CD).
In its press release, the company emphasizes that its operations are fully funded until the planned announcements of the results of the two studies, whether in UC and in Crohn’s disease.
Concerning research and development, the work carried out on other potential drug candidates to be selected from the
Abivax compound library continues.
In this sense, the first compound, successor to obefazimod, should be selected in the third quarter of 2024, in order to continue strengthening the product portfolio, concludes Abivax.
Listed on the Paris Stock Exchange, Abivax shares – which also entered the Nasdaq in October 2023 – rose by almost 2% on Monday morning following all these announcements.