PARIS, FRANCE: Abivax, a French biotechnology company that develops novel treatments for inflammatory diseases, viral diseases and cancer, announced today that it intends to launch a public offering of its shares in the United States.
The company has filed a confidential draft registration statement with the U.S. Securities and Exchange Commission (SEC) for the offering of its ordinary shares, in the form of American Depositary Shares (ADSs), on a U.S. stock exchange.
The company did not disclose the timing, number or price of the securities to be offered, saying that they would depend on market and other conditions. The offering is subject to the SEC’s review and approval of the registration statement.
Abivax is currently listed on the Euronext Paris stock exchange under the ticker symbol ABVX. The company’s lead product candidate, ABX464, is an oral, first-in-class, small molecule that modulates the immune system to treat chronic inflammatory diseases, such as ulcerative colitis, Crohn’s disease and rheumatoid arthritis, as well as viral diseases, such as COVID-19. Abivax is also developing ABX196, a small molecule agonist of invariant natural killer T-cells (iNKT), for the treatment of hepatocellular carcinoma (HCC), a type of liver cancer.
Abivax said that the public offering in the U.S. would enable it to access a larger and more diversified investor base, increase its visibility and recognition in the global biotechnology market, and enhance its financial flexibility and resources to advance its pipeline.