Abivax gains more than 1% in Paris, benefiting from a positive analysis by Oddo BHF, which confirms its 'outperform' opinion and 30 euro price target on the stock, the day after the announcement of a financing agreement that extends the biopharmaceutical company's cash horizon 'until at least the end of the second quarter of 2024'.

The analyst points out that this financing of up to 150 million euros includes two structured financing transactions, half of which will be arranged with Kreos Capital/Claret European Growth Capital, with the remainder underwritten by Heights Capital Management.

The analyst is also 'convinced by the clinical benefits of obefazimod for UC patients, following the excellent Phase IIb results obtained in the induction and maintenance phase, which partly derisks Phase III'

Copyright (c) 2023 CercleFinance.com. All rights reserved.