Abivax presents third quarter 2024 key financial information
14 Noviembre 2024 - 3:01PM
Abivax presents third quarter 2024 key
financial information
PARIS, France, November 14, 2024, 10:00
p.m. CET – 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 modulate the
inflammatory response in patients with chronic inflammatory
diseases, announces today its key financial information for the
quarter ended September 30, 2024.
Abivax provided the following updates on its
business and operational goals in press releases published:
- On July 15, 2024 press release
titled “Abivax provides operational and key program update”
- On August 6, 2024 press release
titled “Abivax Announces ABTECT Phase 3 Trial Achieves Key
Enrollment Milestone”
- On September 9, 2024 press release
titled “Abivax presents first-half 2024 financial results”
- On September 25, 2024 press release
titled “Abivax Provides Update on Ulcerative Colitis (UC)
Combination Therapy Program Strategy and Announces Early
Preclinical Combination Data of Obefazimod and Etrasimod in
Inflammatory Bowel Disease (IBD) Mouse Model”
- On October 3, 2024 press releases
titled “Abivax Reports Positive Interim Efficacy and Safety
Analysis of Once-Daily 25mg Obefazimod in Moderate to Severe
Ulcerative Colitis Patients After 2-Years of Open-Label
Maintenance” and “Abivax Announces First Patient Enrolled in
ENHANCE-CD, the Phase 2b Trial of Obefazimod in Crohn’s
Disease”
- On October 7, 2024 press release
titled “Abivax Congratulates Victor Ambros and Gary Ruvkun on Their
Nobel Prize for the Discovery of microRNA and its Role in
Post-Transcriptional Gene Regulation”
Third Quarter 2024 Financial Highlights
Preliminary Results(Consolidated, unaudited results)
Cash and Cash Equivalents:
Abivax had cash and cash equivalents of EUR
180.5 million as of September 30, 2024. Based on the current
operating plan and financial projections, the Company expects to be
able to fund its operations into Q4 2025.
Principal Debt Outstanding:
Abivax had total principal debt outstanding of
EUR 106.3 million as of September 30, 2024, compared to EUR 108.4
million as of June 30, 2024.
Principal Debt Outstanding* |
|
|
|
|
|
in millions of euros |
|
30/09/2024 |
30/06/2024 |
|
Change |
|
|
|
|
|
|
Debt Facility |
|
|
|
|
|
Kreos/Claret Financing |
|
75.0 |
75.0 |
|
0.0 |
Heights Convertible Notes |
|
26.3 |
28.4 |
|
-2.1 |
BPI Conditional Advances |
|
2.5 |
2.5 |
|
0.0 |
State Guaranteed Loan - “PGE” |
|
2.5 |
2.5 |
|
0.0 |
|
|
|
|
|
|
Total Principal Debt Outstanding |
|
106.3 |
108.4 |
|
-2.1 |
*Principal debt consists of principal cash owed
for each respective instrument, excluding impact of fair-value
adjustments and/or derivatives.
The preliminary financial data included in this
press release has been prepared by, and is the responsibility of,
Abivax's management. PricewaterhouseCoopers Audit has not audited,
reviewed, examined, compiled, nor applied agreed-upon procedures
with respect to the preliminary financial data. Accordingly,
PricewaterhouseCoopers Audit does not express an opinion or any
other form of assurance with respect thereto.
*****
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. More information on the Company is
available at www.abivax.com. Follow us on LinkedIn and on X,
formerly Twitter, @ABIVAX.
Contacts:
Abivax Investor RelationsPatrick
Malloypatrick.malloy@abivax.com+1 847 987 4878
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
“expect,” “plan,” “project” and variations of such words and
similar expressions are intended to identify forward-looking
statements. These forward-looking statements include statements
concerning or implying Abivax’s cash runway and 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 French Autorité des Marchés Financiers
pursuant to its legal obligations including its universal
registration document (Document d’Enregistrement Universel) and in
its Annual Report on Form 20-F filed with the U.S. Securities and
Exchange Commission on April 5, 2024 under the caption “Risk
Factors.” These risks, contingencies and uncertainties include
among other things, the uncertainties inherent in research and
development, future clinical data and analysis, decisions by
regulatory authorities, such as the FDA or the EMA, regarding
whether and when to approve any drug candidate, as well as their
decisions regarding labelling and other matters that could affect
the availability or commercial potential of such product
candidates, and the availability of funding sufficient for the
Company’s foreseeable and unforeseeable operating expenses and
capital expenditure requirements. Special consideration should be
given to the potential hurdles of clinical and pharmaceutical
development including further assessment by the Company and
regulatory agencies and IRBs/ethics committees following the
assessment of preclinical, pharmacokinetic, carcinogenicity,
toxicity, CMC and clinical data. 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 is for
information purposes only, and the information contained herein
does not constitute either an offer to sell, or the solicitation of
an offer to purchase or subscribe for securities of the Company in
any jurisdiction. Similarly, it 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. The distribution of this
document may be restricted by law in certain jurisdictions. Persons
into whose possession this document comes are required to inform
themselves about and to observe any such restrictions.
Abivax (EU:ABVX)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024
Abivax (EU:ABVX)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024