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Investing.com-- U.S.-listed shares of French biotech firm Abivax SA (EPA:ABVX) (NASDAQ:ABVX) skyrocketed in post-market trading on Tuesday after the company reported strong results from late-stage trials of its oral ulcerative colitis treatment, obefazimod.
The drug met its main goal in two large Phase 3 studies, showing a clear benefit over placebo in achieving clinical remission after eight weeks of treatment. Nearly half of the trial participants had previously not responded to other advanced therapies.
Abivax said the safety profile was in line with earlier trials, with no new concerns.
The success sparked a massive rally in the company’s U.S.-listed shares, which jumped many times higher than their previous level.
Shares jumped 475% to $57.15 as of 20:01 ET (00:01 GMT).
Abivax plans to report long-term maintenance data in 2026 and aims to seek U.S. and European approval later that year if results remain positive.