ABIVAX (ABVX) Registration Filing summary

Company overview and business model

• Clinical-stage biotechnology company developing therapeutics to stabilize immune response in chronic inflammatory diseases, with lead candidate obefazimod in Phase 3 for ulcerative colitis and Phase 2b for Crohn's disease.

• Ongoing R&D to expand the miR-124 platform and identify new drug candidates, with a follow-on candidate announcement expected in Q4 2024.

• Incorporated in France with a wholly owned U.S. subsidiary; listed on Nasdaq and Euronext Paris.

Financial performance and metrics

• As of June 30, 2024, cash and cash equivalents were €222.3 million; as adjusted for the offering, €357.9 million.

• Net tangible book value per share as of June 30, 2024 was €1.61 ($1.73 per ADS); would increase to €3.01 ($3.22 per ADS) after the full $150 million offering.

• Outstanding shares as of June 30, 2024: 62,932,818, with additional shares reserved for warrants, options, and convertible notes.

Use of proceeds and capital allocation

• Net proceeds intended primarily for research and development, working capital, and general corporate purposes.

• May use a portion for acquisitions or investments in complementary businesses, products, or technologies, though no current plans for such acquisitions.

• Pending use, proceeds will be invested in short-term, investment-grade, interest-bearing instruments.