ABIVAX (ABVX) Q3 2025 earnings summary

Executive summary

• Cash and cash equivalents reached EUR 589.7M as of September 30, 2025, providing a cash runway into Q4 2027.

• Key business updates included multiple late-breaking presentations of Phase 3 trial results for obefazimod in ulcerative colitis at major gastroenterology meetings.

Financial highlights

• Operating loss increased by EUR 44.2M to EUR 174.4M for the nine months ending September 30, 2025, compared to the same period in 2024.

• Net loss for the period was EUR 254.1M, up EUR 117.3M year-over-year.

• Operating income decreased by EUR 4.0M to EUR 4.1M, mainly from lower research tax credits and subsidies.

• R&D expenses rose by EUR 25.4M to EUR 133.4M, driven by increased clinical trial activity and supply chain costs.

• Cash position increased by EUR 445.5M since December 31, 2024, mainly due to a large public offering in July 2025.

Outlook and guidance

• Forecasted cash flow requirements are expected to be covered into Q4 2027 based on current cash reserves.