French biotech Abivax surged after its oral ulcerative colitis drug obefazimod exceeded Phase III expectations. The company raised $747.5 million through a Nasdaq offering, oversubscribed five times, fueling clinical development for UC and Crohn's disease. CEO Marc de Garidel called the drug a potential blockbuster, with shares soaring over 500% in Europe and nearly 600% in the U.S. This capital influx strengthens Abivax’s position to advance late-stage trials and commercialization preparations.