Abivax Announces Full Exercise of Underwriters’ Option to Purchase Additional ADSs, Bringing Gross Proceeds of Offering to $920M (€807M)
Rhea-AI Summary
Abivax (Nasdaq:Euronext: ABVX) announced that underwriters fully exercised their option to buy 960,000 additional ADSs, bringing the total Offering to 7,360,000 ADSs.
This increases gross proceeds to about $920.0M (€807.4M) and estimated net proceeds to about $874.1M (€767.1M), mainly to fund obefazimod commercialization and inflammatory bowel disease R&D.
Positive
- Underwriters’ option fully exercised, increasing total to 7,360,000 ADSs
- Gross Offering proceeds of approximately $920.0M (€807.4M)
- Estimated net proceeds of about $874.1M (€767.1M)
- Offering price of $125.00 per ADS set at a 2.39% premium to prior VWAP
- Significant funding earmarked for obefazimod commercialization and IBD clinical programs
Negative
- Issuance of 7,360,000 new ADSs implies equity dilution for existing shareholders
Market reaction after ADS over-allotment exercise: ABVX +9.12% in the Jul 2 session
In the Jul 2 session, ABVX gained 9.12%, reflecting a notable positive market reaction. Argus tracked a peak move of +4.1% during that session. Our momentum scanner triggered 49 alerts that day, indicating elevated trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Offering Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 01 | Offering pricing update | Neutral | -0.5% | Correction to pricing details for highly oversubscribed $800M ADS offering. |
| Jul 01 | Offering pricing | Neutral | -0.5% | Upsized $800M ADS offering priced with 15% underwriters’ option. |
| Jun 30 | Offering launch | Neutral | -0.5% | Launch of ~$600M ADS offering with underwriters’ option for extra ADSs. |
| May 05 | Royalty buyback & ADS | Neutral | +5.7% | Repurchase of royalty certificates and $45M ADS offering at $111.57. |
| Jul 28 | Offering closing | Neutral | +4.8% | Closing of $747.5M ADS offering including full underwriters’ option exercise. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Offering-related headlines have produced mixed reactions, with several sizeable equity financings and an overall modestly positive average move despite some recent softness.
Key Terms
over-allotment option financial
volume weighted average price financial
automatic shelf registration statement regulatory
prospectus supplement regulatory
stabilization activities financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Abivax Announces Full Exercise of Underwriters’ Option to Purchase Additional ADSs, Bringing Gross Proceeds of Offering to
PARIS, France, July 2, 2026 – 8:00 a.m. CEST – Abivax SA (Euronext Paris: FR0012333284 – ABVX / Nasdaq: ABVX) (“Abivax” or the “Company”), a clinical-stage biotechnology company focused on developing therapeutics that harness the body’s natural regulatory mechanisms to stabilize the immune response in patients with chronic inflammatory diseases, today announces that the underwriters of its offering of 6,400,000 American Depositary Shares (“ADSs”), each representing one ordinary share,
Following the exercise in full of the over-allotment option, the total number of ADSs issued in the Offering will amount to 7,360,000 ADSs, resulting in gross proceeds for the Company of approximately
The Company intends to use the net proceeds from the Offering for:
- expenses relating to potential commercialization of the Company’s lead drug candidate, obefazimod, in the United States;
- clinical research and development expenses, primarily related to ulcerative colitis and Crohn’s disease; and
- the remainder, if any, for general corporate purposes.
The expected use of proceeds represents the Company’s intentions based upon its current plans and business conditions.
The offering price of
The Company’s ADSs are listed on The Nasdaq Global Market under the ticker symbol “ABVX.” The Company’s Ordinary Shares are listed on the regulated market of Euronext in Paris under the symbol “ABVX.”
In accordance with Article 6 of Delegated Regulation (EU) 2016/1052 of March 8, 2016, Leerink Partners, acting as the stabilizing agent on its own behalf and on behalf of the other underwriters, reported that no stabilization activities had been carried out and the stabilization period is now closed.
An automatic shelf registration statement on Form F-3 (including a prospectus) relating to the Company’s securities was filed with the Securities and Exchange Commission (the “SEC”) on July 23, 2025 and became effective upon filing and was amended on June 30, 2026. The Company also intends to file with the SEC a final prospectus supplement (and accompanying prospectus) describing the terms of the Offering (the “Final Prospectus Supplement”). These documents may be obtained free of charge by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, a copy of the Final Prospectus Supplement (and accompanying prospectus) may be obtained from Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at syndicate@leerink.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; Piper Sandler & Co., 350 North 5th Street, Suite 1300, Minneapolis, MN 55402, Attention: Prospectus Department, by telephone at (800) 747-3924 or by email at prospectus@psc.com; or Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544 or by email at GSEquityProspectusDelivery@guggenheimpartners.com.
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About Abivax
Abivax is a clinical-stage biotechnology company focused on developing therapeutics that harness the body’s natural regulatory mechanisms to stabilize the immune response in patients with chronic inflammatory diseases. Based in France and the United States, Abivax’s lead drug candidate, obefazimod (ABX464), is in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis.
Contacts:
| Abivax Investor Relations Patrick Malloy patrick.malloy@abivax.com +1 847 987 4878 Media Contact: LifeSci Communications Karissa Baltz, Ph.D. Associate Director LSC_ABIVAX@lifescicomms.com |
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Forward-Looking Statements
This press release contains forward-looking statements, forecasts and estimates, including those relating to the Company’s business and financial objectives. Words such as “design,” “intend,” “expect,” “forward,” “future,” “can,” “could,” “may,” “might,” “potential,” “plan,” “project,” “should,” “will” and variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements include statements regarding the expected closing of the Offering, the anticipated use of net proceeds therefrom, as well as other statements that are not historical fact. Although Abivax’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks, contingencies and uncertainties, many of which are difficult to predict and generally beyond the control of Abivax, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. A description of these risks, contingencies and uncertainties can be found in the documents filed by the Company with the AMF pursuant to its legal obligations, including its universal registration document (Document d’Enregistrement Universel), and in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on March 23, 2026 under the caption “Risk Factors.” These risks, contingencies and uncertainties include among other things, risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the issuance of the Additional ADSs. Furthermore, these forward-looking statements, forecasts and estimates are made only as of the date of this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. Abivax disclaims any obligation to update these forward-looking statements, forecasts or estimates to reflect any subsequent changes that the Company becomes aware of, except as required by law. Information about pharmaceutical products (including products currently in development) that is included in this press release is not intended to constitute an advertisement. This press release does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. It should not be regarded by recipients as a substitute for exercise of their own judgment. All opinions expressed herein are subject to change without notice.
Disclaimers
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of such securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The distribution of this press release may be subject to legal or regulatory restrictions in certain jurisdictions. Any person who comes into possession of this press release must inform him or herself of and comply with any such restrictions.
This announcement is not a prospectus within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (the “Prospectus Regulation”).
This document is distributed and addressed only to legal entities which are qualified investors as defined in the Prospectus Regulation. No offer to the public of the securities referred to herein requiring the Company to publish a prospectus pursuant to Article 3 of the Prospectus Regulation is being made or will be made in any member state of the European Economic Area (each, a “Relevant Member State”). For the purposes of the above, the expression an “offer to the public” in any Relevant Member State shall have the meaning ascribed to it in Article 2(d) of the Prospectus Regulation.
This communication is being distributed only to, and is directed only at (a) persons outside the United Kingdom, (b) “qualified investors” (as defined in paragraph 15 of Schedule 1 to the Public Offers and Admissions to Trading Regulations 2024 (the “POAT Regulations”)) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), and (c) high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as “relevant persons”). In the United Kingdom, any offering of securities described herein will be made pursuant to an exemption under the POAT Regulations from the requirement to publish a prospectus. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons. Any person who is not a relevant person should not act or rely on this communication or any of its contents.
Solely for the purposes of each manufacturer’s product approval process, the target market assessment in respect of the securities offered in the Offering has led to the conclusion in relation to the type of clients criteria only that: (i) the type of clients to whom the securities are targeted is eligible counterparties and professional clients only, each as defined in Directive 2014/65/EU, as amended (“MiFID II”); and (ii) all channels for distribution of the securities offered in the Offering to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the securities (a “distributor”) should take into consideration the manufacturers’ type of clients assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the securities offered in the Offering (by either adopting or refining the manufacturers’ type of clients assessment) and determining appropriate distribution channels.
This press release has been prepared in both French and English. In the event of any discrepancies between the two versions of the press release, the French language version shall prevail.
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