Abivax SA American Depositary Shares - ABVX STOCK NEWS

Abivax (ABVX) has reached a significant milestone in its Phase 3 ABTECT trial for obefazimod, a treatment for moderately to severely active ulcerative colitis (UC). The trial has surpassed 600 enrolled patients, keeping it on track to achieve full enrollment by early Q1 2025. This progress aligns with the company's expectations and reflects similar baseline characteristics and trends observed in the earlier Phase 2b trial.

The ABTECT trial is a important step in Abivax's development of therapeutics that aim to stabilize the immune response in chronic inflammatory diseases. The company's approach focuses on harnessing the body's natural regulatory mechanisms. With this enrollment milestone, Abivax reaffirms its timeline for the trial's completion, potentially bringing obefazimod closer to market for UC patients.

Abivax SA (ABVX) provided an update on its key clinical programs and leadership changes. The Phase 3 ABTECT trial for obefazimod in ulcerative colitis is on track to complete enrollment in early Q1 2025, with top-line results expected in early Q2 2025. The company is making progress on its pre-clinical combination therapy program. Sylvie Grégoire has been named Chair of Abivax's Board of Directors, while Dr. Fabio Cataldi and Dr. David Zhang have been appointed as Chief Medical Officer and Chief Strategy Officer, respectively.

Abivax's cash position allows for runway into Q4 2025, covering the ABTECT 8-week induction top-line results. The company is focusing on R&D while streamlining G&A expenses. The Phase 2b ENHANCE-CD trial for Crohn's disease is planned to start enrollment in September 2024.

Abivax SA, a clinical-stage biotechnology company, announced the results of its Ordinary and Extraordinary General Meeting held on May 30, 2024.

The shareholders approved all resolutions proposed by the Board, including the financial statements for 2023, the compensation policy for top executives, and delegations related to financial transactions.

New Board members, Mr. Troy Ignelzi, Dr. June Lee, and Ms. Camilla Soenderby, were ratified.

Details of the vote results can be accessed on the company's website.

Sofinnova Investments appoints Troy Ignelzi as an Executive Advisor, bringing over two decades of financial leadership experience in the biotech and pharmaceutical sectors. Mr. Ignelzi has raised over $4 billion in capital for life science companies and currently serves as the CFO at Rapport Therapeutics. He aims to support Sofinnova's portfolio companies in corporate and financial strategy, contributing to their long-term success.

Abivax SA announces the presentation of four scientific abstracts on obefazimod for ulcerative colitis at the 19th ECCO Congress. The data showcases the drug's efficacy and safety in UC patients, highlighting its unique mechanism of action.

BariaTek Medical, a medical device company, has initiated a first-in-human clinical trial for its product candidate, the BariTon™, to treat obesity and diabetes. The company's product is expected to provide a minimally invasive, reversible, and cost-effective solution for patients suffering from obesity. The clinical trial has been initiated in Australia and Uzbekistan, with positive feedback from the principal investigators. The product aims to reduce food intake and calorie absorption, potentially mimicking the efficacy of sleeve gastrectomy and bypass surgery while offering superior safety and ease of use.