ABIVAX SA (ABVX, AAVXF), a French clinical-stage biotechnology company, announced late Monday wider net loss for the first nine months of fiscal 2025, hurt by increased Research and Development costs and weak operating income.
Over the nine months, the firm's net loss expanded to 254.1 million euros from 136.9 million euros in the prior year.
The company recorded a financial loss of 79.7 million euros, wider than prior year's loss of 6.7 million euros.
Operating loss widened to 174.4 million euros from loss of 130.2 million euros a year ago.
Total operating income slipped to 4.1 million euros from 8.1 million euros in the last year.
Research and development or R&D expenses increased to 133.4 million euros from 107.9 million euros last year. The higher R&D expenses reflected an increase in costs related to the Company's ulcerative colitis (UC) clinical program and its phase 3 trials, Crohn's Disease (CD) clinical program, Phase 2b clinical trials for obefazimod in CD and other obefazimod studies.
Abivax's primary goal is to develop and commercialise its lead drug candidate, obefazimod (ABX464), which is in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis.
The top-line results for the 8-week induction trials were announced in the third quarter of 2025, and 44-week maintenance data is expected in the second quarter of 2026.
Notably, in November, the company informed bondholders of its intention to prepay the outstanding balances under Tranches B and C of the Kreos/Claret financing, with the transaction expected to close on December 31, 2025.
Also, Abivax reported that its existing cash and cash equivalents of 589.7 million euros are sufficient to fund its forecasted cash flow requirements through the fourth quarter of 2027.
Abivax shares closed Monday's trade 6.08% lower at $117.91. In the overnight market, ABVX is trading 0.08% higher at $118.00.
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