ABVX News & Analysis
2 articles
Market Mood
European Stocks Bounce 0.7% Amid Inflation Data Expectations
On Tuesday, European equities, represented by the Stoxx 600, rose 0.7% after falling to a one-week low. The U.K.'s FTSE 100 gained 0.4%, while France's CAC 40 and Germany's DAX increased by 0.9% and 1%, respectively. In contrast, Abivax (ABVX) shares dropped 28% following reports of cancer development in its ulcerative colitis trial. Moreover, inflation in the euro zone increased to 3% in April, raising concerns over energy prices as the market anticipates a 94% likelihood of a 25 basis points interest rate hike by the European Central Bank later this month.
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Abivax (ABVX) Shares Drop 32% After Ulcerative Colitis Drug Update
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.
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