MAY 7·TipRanks▲
Abivax Buys Back $90 Million in Royalties via $45 Million ADS Offering, Keeps Cash Runway to Q4 2027
Abivax (ABVX) repurchased $90 million in royalty certificates, paying $45 million in cash and $45 million through a loan convertible to American Depositary Shares (ADS), which will simplify its capital structure. This transaction, involving a $45 million ADS offering, results in minimal dilution for shareholders (around 0.5%) and maintains Abivax's cash runway into Q4 2027, enhancing its financial flexibility. The move positions Abivax more favorably for the potential commercialization of its lead drug candidate, obefazimod.
APR 30·MarketBeat▲
Abivax SA Sponsored ADR (NASDAQ:ABVX) Sees Large Drop in Short Interest
Abivax SA Sponsored ADR (NASDAQ:ABVX) experienced a significant 21.6% drop in short interest in April, totaling 2,561,260 shares as of April 15th. The company, a clinical-stage biopharmaceutical firm, maintains a "Moderate Buy" consensus rating from analysts with an average target price of $137.15. Institutional ownership is substantial at 47.9%, with several major funds increasing their stakes.
