Abivax Shares Drop 30 Percent Despite Strong Drug Trial
Abivax shares fell sharply after reports of cancer cases in a late-stage trial for its ulcerative colitis drug obefazimod. While the treatment met its primary efficacy goals with high remission rates, analysts warned that safety concerns may impact investor sentiment and commercial uptake.
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Abivax shares fell 30% in morning trading Tuesday after the firm reported late-stage trial data for its inflammatory bowel drug. The selloff follows a 16-fold rally in the stock last year and led losses on Europe's STOXX 600 benchmark index. Investors are weighing strong efficacy results against safety concerns involving three cancer cases reported during the maintenance study.
