Abivax reports strong financials for Q3 2024, with EUR 180.5 million in cash; expects funding until Q4 2025.
From GlobeNewswire: 2024-11-14 16:01:00
Abivax presents key financial information for the third quarter of 2024, highlighting updates on operational goals and press releases from July to October. The company reported having EUR 180.5 million in cash and cash equivalents as of September 30, 2024, with total principal debt outstanding of EUR 106.3 million. Abivax expects to fund its operations into Q4 2025.
The preliminary financial data disclosed has not been audited by PricewaterhouseCoopers Audit but is the responsibility of Abivax’s management. The company’s lead drug candidate, obefazimod (ABX464), is in Phase 3 clinical trials for treating ulcerative colitis. Investors are cautioned about forward-looking statements and the risks associated with them, including uncertainties in research and development, regulatory decisions, and funding availability for operations and capital expenditures.
For more information, visit Abivax’s website or contact Abivax Investor Relations at [email protected] or +1 847 987 4878. Abivax disclaims any obligation to update forward-looking statements and advises readers not to place undue reliance on them. This press release serves for information purposes only and does not constitute an offer to sell securities or investment advice. Readers should exercise their own judgment and be aware of any legal restrictions regarding the distribution of this document.
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