Abivax Launches ATM Program on Nasdaq

Abivax, a clinical-stage biotechnology company, is establishing an At-the-Market (ATM) program on the Nasdaq to issue and sell up to $150 million of its ordinary shares in the form of American Depositary Shares (ADSs). Sales will be made through Piper Sandler & Co., as placement agent, over a three-year period.

Net proceeds from the sales will be used primarily for the clinical development of Abivax’s lead drug candidate, obefazimod, and for general corporate purposes. The program provides Abivax with additional financial flexibility, although the securities may not be sold until a registration statement is filed with the SEC.

Abivax intends to regularly report on the progress of the program through its financial reports and website. The program is intended to support the company's clinical programs and working capital.