Abivax financial results for the first half of 2024

Abivax SA, a biotechnology company specializing in immune regulation therapies, has published its financial results for the first half of 2024. As of June 30, 2024, the company had cash of €222 million, providing financing capacity until the fourth quarter of 2025.

Operating revenue increased to EUR 6.8 million from EUR 2.3 million in 2023. However, operating loss also increased to EUR -80.0 million, mainly due to increased research and development (R&D) expenses and selling and administrative expenses.

R&D costs reached €64.7 million, driven by Phase 3 trials for the treatment of ulcerative colitis. Sales and marketing expenses amounted to €4.2 million, compared to €0.2 million in 2023, largely to prepare for commercialization in the United States. General and administrative expenses also increased to €17.9 million.

Finally, the net loss for the period was -81.6 million euros. The company also finalized the drawdown of two financing tranches, totaling 50 million euros, under its agreement with Kreos Capital and Claret European Growth Capital.