Abivax SA (ABVX,ABVX.PA), a clinical-stage biotechnology company, announced on Wednesday that trading of its shares on the Euronext Paris market will be temporarily halted, at the company's request, from the opening of the market at 9:00 a.m. CEST, related to the ADS offering announced previously.
Trading on Euronext Paris is expected to resume later today, July 1, 2026, at approximately 3:30 p.m. (CEST).
On Tuesday, Abivax announced a $600 million offering of American Depositary Shares, each representing one ordinary share, with a nominal value of 0.01 Euro per share, in the United States.
In addition, Abivax expects to grant underwriters an option to purchase up to an additional fifteen per cent (15%) of the total number of ADSs proposed to be sold in the offering.
The company intends to use the gross proceeds for its lead drug candidate, Obefazimod, in the United States, and for clinical research and development expenses, primarily related to ulcerative colitis and Crohn's disease.
Obefazimod is in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis.
Leerink Partners, Morgan Stanley, Piper Sandler and Guggenheim Securities are acting as joint bookrunning managers, and Van Lanschot Kempen is acting as a lead manager for the offering.
ABVX closed Tuesday's trading at $133.26, up 38.60%.ABVX is currently up 2.36% at $136.40 on the Nasdaq.
For More Such Biotech Stock News, visit rttnews.com.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
September 04, 2026 15:08 ET The job report and foreign trade data were the main economic news from the U.S. in the first week of September. Elsewhere in North America, the Canadian central bank announced its latest policy decision. Inflation data from Eurozone was the highlight in Europe. The latest interest rate decision by the Reserve Bank of New Zealand drew attention in Asia.