Abivax Reports Cash Reserves of 589.7 Million Euros as of September 30, 2025
Biotechnology company Abivax has released its financial results for the third quarter of 2025, reporting cash and cash equivalents of 589.7 million euros as of September 30, 2025. According to the statement, this financial position ensures autonomy until the fourth quarter of 2027.
Operational Loss and R&D Expenditure
According to the report, the operating loss amounted to 174.4 million euros in the first nine months of 2025, compared to 130.2 million euros during the same period in 2024. Research and development expenses increased by 25.4 million euros to 133.4 million euros, largely due to the progress of phase 3 trials on ulcerative colitis and phase 2b trials on Crohn's disease. The company also noted a significant increase in employer contributions related to stock awards, amounting to 14.8 million euros, linked to the rise in share price in the third quarter. General and administrative expenses rose from 16.5 million euros to 41.8 million euros, primarily due to increased personnel costs. Sales and marketing expenses decreased by 1.7 million euros to 3.4 million euros.
Financial Results and Net Loss
The financial result recorded a loss of 79.7 million euros for the nine months ending September 30, 2025, compared to 6.7 million euros the previous year. According to the group, this deterioration is mainly due to an increase in the fair value of convertible bonds from Heights for 36.0 million euros and warrants from Kreos/Claret for 29.9 million euros, due to the rise in the share price. Additionally, there were currency losses of 11.4 million euros, including 9.1 million euros of non-cash impact related to the revaluation of cash denominated in US dollars, as well as interest expenses of 9.3 million euros and a non-cash charge of 15.1 million euros related to royalty certificates. The net loss for the nine-month period reached 254.1 million euros, compared to 136.9 million euros in 2024.
Cash and Cash Equivalents Increase
The company specified that cash and cash equivalents amounted to 589.7 million euros as of September 30, 2025, an increase of 445.5 million euros compared to December 31, 2024. This increase primarily resulted from the public offering completed in July 2025, which generated a net product of 597.2 million euros, after deduction of commissions and fees. During the nine-month period, Heights Capital Management converted all of its convertible bonds into 920,377 ordinary shares. In August 2025, Kreos Capital and Claret European Growth Capital proceeded with conversions and exercises of warrants, resulting in the issuance of a total of 1,311,302 ordinary shares. According to the statement, the company informed bondholders in November 2025 of its intention to prepay in full the remaining balances of the B and C tranches of the Kreos/Claret financing before December 31, 2025.
