By Xavier Martinez
U.S.-listed shares of Abivax climbed more than 25% in after-hours trading after the French biotech released new data aimed at reassuring investors about the safety of its experimental ulcerative colitis treatment. Monday's announcement comes weeks after the company released initial results of its clinical trial that included several cases of cancer, prompting a steep selloff.
The company reported that cancer rates in a larger patient dataset fell within the range typically seen in patients with ulcerative colitis, even in those taking higher doses of its drug. Abivax's drug also proved effective in harder-to-treat patients, according to the newly released data. Nearly 40% of those who initially didn't respond to treatment went into remission simply by continuing to take the same dose of the drug over a longer period, and 45% of patients who relapsed went into remission after they upped the amount of the drug they took. Abivax said it plans to file for regulatory approval of the drug later this year.
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