Abivax launches a public offering of American Depositary Shares

Biotechnology company Abivax, listed on Euronext Paris, has announced the launch of a public offering of its American Depositary Shares (ADS) valued at approximately $600 million. These ADSs, each representing one ordinary share, will be issued in the United States and traded on the Nasdaq Global Market. The offering also includes an over-allotment option for the underwriting banks, allowing for up to 15% additional issuance.

The net proceeds from this transaction will primarily be used to finance the commercialization of obefazimod, the company's lead drug candidate, in the United States, as well as research and development related to ulcerative colitis and Crohn's disease. Abivax also guarantees that the process takes current market conditions into account, without any certainty as to its completion or the final terms.