Abivax Shares Soar 35%, Leading the SBF 120 After Clinical Study Results
The French biotech company had a spectacular mid-day trading session, catapulting to the top of the broad Paris index. The stock erased several weeks of decline and bearish pressure in one morning, following the positive data presented on its maintenance trial in ulcerative colitis. This movement contrasts with a barely rising Paris market.
Positive ABTECT Results Propel Abivax to the Top of the SBF 120
Abivax shares surged by 35.05% to €112.50 during the session, marking the highest rise in the SBF 120, while the CAC 40 increased by 0.32%. The stock reacted to the clinical data unveiled on June 29 regarding Part 2 of the ABTECT maintenance trial: obezafimod restored clinical remission in 37.2% of patients who did not respond to the initial treatment, and in 45.5% of those who relapsed. The expansion of the safety base to 1,704 patient-years of exposure shows cancer incidence rates consistent with epidemiological benchmarks for ulcerative colitis, a key point before regulatory filing.
During this announcement, the company confirmed it is preparing to file for marketing authorization in the United States later this year. The rebound completely erased the monthly decline (-0.79% over a month) and brought the quarterly performance to over 26%.
A Likely Short Squeeze Amidst Heavy Bearish Positions in the Capital
The magnitude of the movement becomes clear in light of the positioning of short sellers. According to consulted declarations, the cumulative net short position reached 6.44% of the capital, distributed among five funds, up by 3.32 points over thirty days (compared to 3.12% a month ago). This high level and its rapid progression indicated a significant rise in bearish pressure; a favorable catalyst like the ABTECT publication could force some of these positions to unwind, mechanically amplifying the day's rise. In terms of indicators, the stock has significantly surpassed its moving averages: the MM20 (€83.20), the MM50 (€95.30), and the MM200 (€95.82) are all breached upwards, with a gap of 17 to 35% depending on the horizon.
The price is approaching the resistance identified at €115.10, already tested at the beginning of June before the post-phase 3 slump. The Paris listing remains arbitrated with the ADS ABVX at Nasdaq, which follows the same price after conversion. The next concrete milestone for the stockholders will be the filing of the marketing authorization application in the United States, scheduled for this year.
