ABIVAX (ABVX) H1 2024 earnings summary

Executive summary

• Cash balance of €222M at June 30, 2024, with a projected cash runway into Q4 2025.

• Focused on advancing obefazimod (ABX464) in Phase 3 trials for ulcerative colitis and planning for Crohn's disease trials.

• Operational expansion in both the U.S. and Europe, increasing headcount to 84 by June 2024.

Financial highlights

• Operating loss rose to €80.0M, up €42.7M year-over-year, driven by higher R&D, S&M, and G&A expenses.

• Net loss for H1 2024 was €81.6M, compared to €52.0M in H1 2023.

• Operating income increased to €6.8M, mainly from research tax credits and subsidies.

• Cash position at June 30, 2024, was €222.3M, down from €260.0M at year-end 2023.

Outlook and guidance

• Current funds expected to cover operating cash flow requirements into Q4 2025.