Abivax SA has secured new financing of up to $747.5 million from a public offering of American Depositary Shares (ADSs) in the wake of two successful Phase 3 trial results for a small molecule drug for ulcerative colitis. Both trials achieved clinical remissions for a significant number of patients. The offering was initially announced on 23 July with the intention of raising $400 million. But after the trial results were reported, the company’s shares experienced a five-fold increase in value.
