US stock futures steady after Wall St soars on dovish Powell; Nvidia earnings due
PARIS - Abivax SA (Euronext Paris: FR0012333284 – ABVX / Nasdaq: ABVX), a clinical-stage biotech company with a market capitalization of $383 million, announced the immediate appointment of Dr. Dominik Höchli to its Board of Directors. With over twenty years of experience in the biopharmaceutical industry, Dr. Höchli’s expertise is expected to be pivotal as Abivax anticipates key Phase 3 trial results for its lead drug candidate, obefazimod, in patients with ulcerative colitis, projected for Q3 2025. According to InvestingPro data, the company faces significant cash burn challenges while maintaining a moderate debt level with a debt-to-equity ratio of 2.69.
Dr. Höchli’s career includes a notable 20-year tenure at AbbVie/Abbott, where he led Global Marketing for Immunology and served as Head of Global Medical Affairs. His strategic insights in medical affairs and product positioning are deemed crucial for Abivax as it prepares for this significant clinical milestone. The company’s financial health will be critical during this phase, with InvestingPro analysis showing a current ratio of 1.82 and trailing twelve-month revenue of $11.18 million. Additionally, Dr. Höchli has held the position of Interim CEO at Catapult Therapeutics and founded a pharmaceutical strategy consulting firm, Abinode. He also serves on the Board of Directors at Molecular Partners AG.
Sylvie Grégoire, Chair of Abivax’s Board of Directors, expressed enthusiasm for Dr. Höchli’s joining during a critical phase of the company’s clinical development, particularly for the advancement of obefazimod. The appointment comes as the company’s stock has experienced significant volatility, with a one-year total return of -60.29% and an EBITDA of -$178.06 million in the last twelve months.
Abivax specializes in developing treatments that leverage the body’s natural regulatory mechanisms to modulate the immune response in chronic inflammatory diseases. Its primary drug candidate, obefazimod (ABX464), is currently undergoing Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis. Subscribers to InvestingPro can access 7 additional key insights about Abivax’s financial health and growth prospects, essential for understanding the company’s investment potential during this crucial development phase.
The company cautions that forward-looking statements regarding the potential of its drug candidates and the timing of trial results are subject to risks and uncertainties that could cause actual developments to differ materially from those projected. Abivax underlines the inherent challenges of clinical and pharmaceutical development, emphasizing the need for further evaluations by the company and regulatory bodies.
This announcement is based on a press release statement by Abivax. Investors are advised to consider the risks and uncertainties involved in drug development and to follow the progress of Abivax’s clinical trials for a comprehensive understanding of the company’s prospects.
In other recent news, Abivax has been the subject of various analyst reports focusing on its ongoing development of obefazimod for ulcerative colitis (UC). Guggenheim reiterated a Buy rating with a price target of $50, emphasizing the company’s strong cash position and the anticipated completion of Phase III trials by the second quarter of 2025. BTIG also maintained a Buy rating and a $43 price target, highlighting the potential of obefazimod to meet the significant unmet need for UC therapies. Morgan Stanley initiated coverage with an Equalweight rating and a $12 price target, noting the drug’s promise as a safe, oral option for advanced treatment-experienced patients. The analysts emphasized the importance of the upcoming Phase 3 induction readout expected in the third quarter of 2025. JMP Securities reaffirmed a Market Outperform rating and a $33 price target, supported by insights from a recent key opinion leader event featuring Dr. David Rubin. These analysts’ reports reflect a range of perspectives on Abivax’s future, with several firms expressing optimism about obefazimod’s potential impact in the inflammatory bowel disease market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.