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ABVX Positive Sentiment Score: 75/100

Abivax releases the results of its May 30, 2024 Ordinary and Extraordinary General Meeting

Key Takeaway: Abivax SA held its Ordinary and Extraordinary General Meeting on May 30, 2024, where shareholders successfully adopted all proposed resolutions, including financial statements for 2023 and Board member appointments. The Company’s investigational drug Obefazimod has shown promise in Phase 2 trials, leading to the initiation of a Phase 3 clinical trial program. Looking ahead, a Phase 2b study in Crohn’s disease is planned for Q3 2024, with ongoing research into combination therapy opportunities. However, the company acknowledges substantial uncertainties regarding future clinical outcomes and necessary regulatory approvals.

Market Sentiment Analysis

POSITIVE FACTORS

  • Shareholders adopted all proposed resolutions by the Board.
  • Positive data from Phase 2 trials led to a pivotal Phase 3 program for Obefazimod.
  • New board member appointments strengthen governance.

CONCERNS & RISKS

  • Forward-looking statements indicate potential uncertainties and risks in drug development.
  • Regulatory approvals are uncertain, which could impact market potential.

Full Press Release Details

PARIS, France, June 4, 2024 – Abivax SA (Euronext Paris & Nasdaq: ABVX) (“Abivax” or the “Company”), a clinical-stage biotechnology company focused on developing therapeutics that harness the body’s natural regulatory mechanisms to stabilize the immune response in patients with chronic inflammatory diseases, held its ordinary and extraordinary general meeting of shareholders on May 30, 2024 (the “General Meeting”), which was chaired by Mr. Marc de Garidel, CEO and Chairman of the Board of Directors of Abivax (“Board”).
The shareholders have adopted all the resolutions proposed by the Board and, in particular, the financial statements for the 2023 financial year, the compensation policy applicable to the Chairman, the Chief Executive Officer and the directors, as well as delegations granted to the Board related to financial transactions.
The shareholders have also ratified the appointment of Mr. Troy Ignelzi, Dr. June Lee and Ms. Camilla Soenderby as Board members.
Details on the vote results will be available on the Company’s website (www.abivax.com).
Obefazimod, Abivax’s lead investigational drug candidate, is an orally administered small molecule that was demonstrated to potentially enhance the expression of a single microRNA, miR-124. Phase 2 clinical trials in patients with UC have generated positive data, resulting in the initiation of a pivotal global Phase 3 clinical trial program (ABTECT Program), with first patients enrolled in the United States in October 2022. Initiation of a Phase 2b clinical trial in Crohn’s disease is expected in Q3 2024, and exploration of potential combination therapy opportunities in UC is ongoing.
Abivax Investor Relations
Abivax Communications
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements, forecasts and estimates, including those relating to the Company’s business and financial objectives. Words such as “expect,” “potential,” “will” and variations of such words and similar expressions are intended to identify forward-looking statements. Although Abivax’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks, contingencies and uncertainties, many of which are difficult to predict and generally beyond the control of Abivax, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. A description of these risks, contingencies and uncertainties can be found in the documents filed by the Company with the French Autorité des Marchés Financiers pursuant to its legal obligations including its universal registration document (Document d’Enregistrement Universel) and in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on April 5, 2024 under the caption “Risk Factors.” These risks, contingencies and uncertainties include, among other things, the uncertainties inherent in research and development, future clinical data and analysis, decisions by regulatory authorities, such as the FDA or the EMA, regarding whether and when to approve any drug candidate, as well as their decisions regarding labelling and other matters that could affect the availability or commercial potential of such product candidates. Special consideration should be given to the potential hurdles of clinical and pharmaceutical development including further assessment by the company and regulatory agencies and IRBs/ethics committees following the assessment of preclinical, pharmacokinetic, carcinogenicity, toxicity, CMC and clinical data. Furthermore, these forward-looking statements, forecasts and estimates are only as of the date of this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. Abivax disclaims any obligation to update these forward-looking statements, forecasts or estimates to reflect any subsequent changes that the Company becomes aware of, except as required by law. Information about pharmaceutical products (including products currently in development) that is included in this press release is not intended to constitute an advertisement. This press release is for information purposes only, and the information contained herein does not constitute either an offer to sell, or the solicitation of an offer to purchase or subscribe securities of the Company in any jurisdiction. Similarly, it does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. It should not be regarded by recipients as a substitute for exercise of their own judgment. All opinions expressed herein are subject to change without notice. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions.

Tags

Inflammatory diseases

Frequently Asked Questions

When did Abivax's general meeting of shareholders take place?

The general meeting was held on May 30, 2024.

What drug candidate is Abivax developing?

Abivax is developing obefazimod, an oral small molecule.

What is the status of Abivax’s clinical trials?

Phase 2 clinical trials for UC have been positive, and a Phase 3 trial has started.

Who were ratified as new board members at the meeting?

Mr. Troy Ignelzi, Dr. June Lee, and Ms. Camilla Soenderby were ratified.

What does Abivax aim to stabilize with its therapeutics?

Abivax aims to stabilize the immune response in chronic inflammatory diseases.

Last updated: Jun 4, 2024