Abivax Appoints New Leaders and Reports Strong Financial Results

PARIS, France, September 21, 2026-10:05 PM CEST, Abivax SA, a clinical-stage biotechnology company developing therapeutics that harness the body’s natural regulatory mechanisms to stabilize the immune response in patients with chronic inflammatory diseases, has announced updates and financial results for the first half of 2026.

The company has appointed Chris Rabbat, Ph.D., as the new Chief Medical Officer, succeeding Fabio Cataldi, M.D., who will be leaving the company in the fourth quarter of 2026. Rabbat, who has led Global Medical Affairs since 2023, brings extensive biopharmaceutical industry experience, including deep expertise in Inflammatory Bowel Disease (IBD) and experience supporting therapies through commercialization and launch. His appointment is seen as critical as Abivax prepares for the potential commercialization of obefazimod.

Tim Kelly has been appointed as Chief Technical Officer. Kelly will lead the Company’s commercial CMC, Quality, and Information Technology functions, further strengthening the infrastructure supporting Abivax’s continued growth and potential transition to a commercial-stage organization. His previous roles include serving as Chief Technology Officer of Caribou Biosciences and holding senior leadership positions at Homology Medicines, Shire, UCB Pharma, and Biogen.

As part of the leadership changes, Abivax has also completed the repurchase and cancellation of all outstanding royalty certificates for a total consideration of $90 million (approximately €76.5 million), comprising $45 million in cash and $45 million in equity through the issuance of 403,347 ordinary shares represented by American Depositary Shares (ADSs). This transaction resulted in an expense of approximately €43.2 million in the second quarter of 2026 and the derecognition of a €5.8 million deferred tax liability, with a corresponding tax benefit recognized for the six months ended June 30, 2026.

Abivax’s financial position remains robust, with cash, cash equivalents, and short-term investments of €402.4 million as of June 30, 2026. The company has further bolstered its financial runway with €767.1 million in net proceeds from an early July underwritten public offering of 7,360,000 American Depositary Shares, each representing one ordinary share, EUR 0.01 nominal value per share. The net proceeds, after deducting underwriting commissions and offering expenses, were approximately $874.1 million, equivalent to approximately €767.1 million.

Research and development expenses increased by €29.9 million to €107.9 million (75.5% of operating expenses) in the first half of 2026 compared to €77.9 million (81.3% of operating expenses) in the first half of 2025. This increase was driven by several factors, including a €6.8 million increase related to new indications for obefazimod, a €4.6 million increase in transversal activities related to increased chemistry, manufacturing, and controls and supply chain costs, a €6.3 million increase related to the Company’s Crohn’s disease (CD) clinical program, and a €8.5 million increase related to the Company’s ulcerative colitis (UC) clinical program.

General and administrative expenses increased by €14.1 million to €30.4 million (21.3% of operating expenses) in the first half of 2026 compared to €16.3 million (17.0% of operating expenses) in the first half of 2025. This increase is primarily due to an increase of €8.6 million in personnel costs, driven by an increase in share-based compensation expense related to the impact of share-based awards granted in 2025 and their associated tax and social contributions of €6.1 million. The increase was also due to a €4.5 million increase in consulting and professional fees, driven by costs associated with building the Company’s infrastructure to support future growth in its operations.

Sales and marketing expenses increased by €3.1 million to €4.6 million (3.2% of operating expenses) in the first half of 2026 compared to €1.5 million (1.6% of operating expenses) in the first half of 2025. The increase was driven by costs related to the Company’s continued preparation for potential future sales and commercialization efforts for obefazimod in the U.S., which are expected to continue to accelerate in preparation for commercial launch.

Abivax is anticipated to participate at the United European Gastroenterology Week (UEGW) in October 2026. The company plans to submit an NDA for obefazimod in UC by the end of 2026, and expects to receive top-line results from the Phase 2b ENHANCE-CD induction trial evaluating obefazimod in CD by mid-2027.