Abivax prices upsized $800M ADS offering at $125 per share

Abivax SA (Euronext: ABVX / Nasdaq: ABVX), a clinical-stage biotechnology company, has priced an upsized public offering of 6,400,000 American Depositary Shares (ADSs) at $125.00 per ADS, according to a press release dated July 1, 2026.

The offering was increased from a previously announced size of $600 million to $800 million. The price represents a 2.39% premium to the three-day volume-weighted average price of the company's ordinary shares on Euronext Paris.

Expected gross proceeds are approximately $800 million (€702 million), before deducting underwriting commissions and other expenses, and before any exercise of the underwriters' option. The underwriters have been granted an option to purchase up to an additional 960,000 ADSs, representing 15% of the offering size, exercisable on or before July 6, 2026. If exercised in full, gross proceeds would rise to approximately $920 million (€807 million).

The company stated it expects the net proceeds, combined with existing cash, to fund operations into the second quarter of 2029. As of March 31, 2026, Abivax held cash, cash equivalents, and short-term investments of €491.6 million.

Abivax said it intends to use the proceeds for potential commercialization of its lead drug candidate obefazimod in the United States, clinical research and development for ulcerative colitis and Crohn's disease, and general corporate purposes.

The offering is expected to close on July 6, 2026, subject to customary closing conditions. The 6,400,000 new ordinary shares will result in dilution of approximately 8.0% of the company's share capital on a non-diluted basis, or 9.2% if the underwriters' option is exercised in full.

Leerink Partners, Morgan Stanley, Piper Sandler, and Guggenheim Securities are acting as joint bookrunning managers. The company and its board members and executive officers are subject to a 60-day lock-up period following the final prospectus supplement.

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