Abivax Shares Climb to €105 After Royalty Certificate Buyback
French biotech company Abivax sees significant midday gains on Tuesday, reaching €105 after announcing a combined financing operation and a royalty buyback. The stock is nearing its technical resistance at €109.40 in a rising Paris market, with the CAC 40 up 0.62% during the session.
A Financial Operation that Restructures Liabilities
ABIVAX announced this Tuesday the buyback of its Royalty Certificates, accompanied by an issuance of $45 million (€38.5 million) in American Depositary Shares. Details of this dual operation are outlined in the press release published on May 5. The operation follows the guidance provided during the third quarter of 2025 earnings release, where the company indicated it had financing capacity through the fourth quarter of 2027. The backdrop remains favorable for the biotech: the Digestive Disease Week in Chicago sets the stage for nine presentations dedicated to obefazimod, the phase 3 drug candidate for ulcerative colitis. The stock's annual performance now exceeds 1,500%.
Stock Nears €109.40 Resistance
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At €105, the stock price is in the upper part of the Bollinger Bands (upper boundary at €108.66) and is approaching the resistance identified at €109.40, which was previously tested on April 10 following a target upgrade by Oddo BHF. The RSI at 50 remains neutral despite today's rise, indicating no extreme buying pressure. The price remains above the 50-day moving average (€101) and significantly above the 200-day moving average (€88.76), representing an approximate 18.3% difference that illustrates the underlying momentum. The one-month volatility remains high, at 56.21. The next financial calendar event is the first quarter 2026 earnings release, scheduled for June 1.
Trésorerie et équivalents de trésorerie de 589,7 millions d'euros au 30/09/2025 ; perte nette de 254,1 millions d'euros sur les neuf mois ; produit net d'ADS d'environ 700,3 millions de dollars (?597,2 M€) en juillet 2025 ; position financière nette de 543,3 millions d'euros ; autonomie financière attendue jusqu'au T4 2027. Hausse significative des dépenses R&D et des charges G&A.
Risks mentioned
Risques inhérents à la recherche et au développement clinique
Risque lié aux décisions des autorités réglementaires (FDA, EMA)
Risque de disponibilité insuffisante de fonds pour couvrir les dépenses d'exploitation futures
Obstacles potentiels au développement clinique et pharmaceutique (données précliniques, CMC, toxicologie, etc.)
Opportunities identified
Avancement des essais de phase 3 d'Obefazimod en rectocolite hémorragique
Présentations 'late-breaking' et résultats favorables communiqués lors de congrès scientifiques
Produit net élevé de l'offre d'ADS prolongeant l'autonomie financière jusqu'au T4 2027
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