Abivax (ABVX) Shares Drop 32% After Ulcerative Colitis Drug Update

AI Summary

Shares of Abivax (ABVX) declined as much as 32% following a report on its drug for ulcerative colitis, which met clinically meaningful efficacy and a remission rate of approximately 40%. Despite achieving key endpoints, the trial revealed cancer cases in patients taking higher doses. Investigators deemed these cases unrelated to the treatment, although analysts note the results complicate the drug's prospects. This downturn follows a nearly 1,700% increase in stock value in 2025, and the company is also seen as a potential takeover target in the biotech sector.