On June 3, Abivax S.A. rose 6.21% in pre-market trading, trading at $77.0/share, with trading volume of $4.18 million. The stock is experiencing a partial rebound following a dramatic selloff in the prior session.
The rebound comes after Abivax shares plunged over 40% on June 2 when the company disclosed results from its Phase 3 maintenance trial (ABTECT Maintenance) evaluating obefazimod in moderately to severely active ulcerative colitis. While the trial met its primary endpoint — with placebo-adjusted clinical remission rates of 39.3% and 40.3% for the 25mg and 50mg doses respectively, described as among the highest in UC maintenance trials — the 50mg group reported three malignancy cases including prostate cancer, breast cancer, and colonic dysplasia. Wedbush Securities noted obefazimod faces increasing risk of a black box warning due to these malignancies. Morgan Stanley lowered its price target from $145 to $132 while maintaining an overweight rating. The current pre-market recovery reflects partial bargain-hunting by investors, though safety concerns remain unresolved and analysts caution that the malignancy signal will likely continue to weigh on sentiment and future commercialization prospects.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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