on ABIVAX (EPA:ABVX)
Abivax Releases Q3 2024 Financial Results
Abivax, a clinical-stage biotech firm, announced its financial results for Q3 2024. The company reported cash and cash equivalents amounting to EUR 180.5 million as of September 30, 2024. This financial standing is projected to fund operations into Q4 2025.
In terms of debt, Abivax reported total principal debt of EUR 106.3 million, highlighting a decrease from EUR 108.4 million at the end of June 2024. This reduction was mainly attributed to the partial payment of Heights Convertible Notes.
Abivax's key developments during the quarter include updates on clinical trials and strategic insights into its Ulcerative Colitis combination therapy program. The company has also started a new Phase 2b trial for Crohn’s Disease.
Abivax remains focused on advancing its therapeutics to regulate inflammatory responses in chronic diseases.
R. P.
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