Abivax Announces Full Year 2024 Financial Results

Abivax Announces Full Year 2024 Financial Results

•        Cash balance of EUR 144.2M as of December 31, 2024; cash runway into Q4 2025

Full enrollment in Phase 3 ABTECT trial evaluating obefazimod for moderately to severely active ulcerative colitis ("UC") expected in Q2 2025 with top-line results from the 8-week induction trials expected in Q3 2025

PARIS, France, March 24, 2025, 8:30 AM CET, Abivax SA (PARIS:FR, NASDAQ:ABVX) ("Abivax" or the "Company"), a clinical-stage biotechnology company focused on developing innovative therapies for chronic inflammatory diseases, announced today its full-year financial results, as of December 31, 2024. The 2024 financial statements, approved by the Company's Board of Directors on March 20, 2025, have been audited by the Company's statutory auditors, and the financial reports will be filed with the French and U.S. securities regulatory authorities, respectively, on March 24, 2025.

Marc de Garidel, CEO of Abivax, commented: "2025 is set to be a transformational year for Abivax, marking a pivotal moment in our journey. We are very pleased with our achievements in 2024, demonstrating both strong financial discipline and significant clinical progress. Our cash position secures a projected financial runway into Q4 2025, supporting the full enrollment of ABTECT in Q2 2025 and the anticipated top-line results from the 8-week induction trials in Q3 2025, a major inflection point for Abivax."

Financial Highlights

Cash Position: The Company had a cash balance of EUR 144.2M as of December 31, 2024, providing a projected cash runway into Q4 2025.

Operational Expenditures: R&D expenses increased year-over-year, reflecting continued investments in the Phase 3 ABTECT clinical program and manufacturing scale-up.

Financial Outlook: The Company remains focused on disciplined financial management while advancing its clinical development pipeline and preparing for potential commercialization.

Upcoming Milestones

Completion of Phase 3 ABTECT induction trials enrollment, Q2 2025

Top-line results from induction trials, Q3 2025

Completion of 44-week maintenance trial, Q2 2026

Top-line results from maintenance study, Q2 2026

2024 financial highlights (IFRS figures)

Income Statement

 

FY 2024

FY 2023

 

Change

in millions of euros

 

 

 

 

 

Total operating income

 

12.5

4.6

 

7.9

Total operating expenses

 

 

 

 

 

of which Research and Development costs

 

(146.5)

(103.2)

 

(43.3)

      of which Sales and Marketing costs

 

(6.0)

(6.4)

 

0.4

of which General and Administrative costs

 

(32.9)

(22.4)

 

(10.5)

Operating loss

 

(172.9)

(127.4)

 

(45.5)

Financial loss

 

(3.3)

(20.4)

 

17.1

Net loss for the ...