Abivax Raises $920M on Wall Street and Secures Funding Until 2029
French biotech company Abivax has announced the completion of its public offering of American Depositary Shares (ADS) in the United States, raising a gross amount of $920M following the full exercise of the over-allotment option.
Abivax has finalized its public offering of 7.36 million American Depositary Shares, each representing one ordinary share of the company. The total gross proceeds amounted to approximately $920M (€807.4M), following the full exercise of the over-allotment option by the bookrunners. The estimated net proceeds, after deducting underwriting commissions and fees, are about $874.1M (€767.1M).
Funding Secured Until the Fourth Quarter of 2029
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The company estimates that the net proceeds from the offering, combined with its current cash and cash equivalents, will enable it to fund its operations until the fourth quarter of 2029. All ADS were issued by Abivax. Abivax's ordinary shares continue to be traded on Euronext Paris under the symbol 'ABVX', while its ADS are listed on the Nasdaq Global Market under the same symbol.
Syndication and Regulatory Process
Leerink Partners, Morgan Stanley, Piper Sandler, and Guggenheim Securities acted as joint bookrunners. LifeSci Capital served as passive bookrunner. Van Lanschot Kempen served as lead manager. According to Leerink Partners, as the stabilizing agent, no stabilization transactions were carried out and the stabilization period is now closed. An F-3 form was filed with the SEC on July 23, 2025, became effective upon filing, and was amended on June 30, 2026.
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Context
Period
Period: 3T 2025
Guidance from the release
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
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
