Abivax has delivered a remarkable surge in its shares following positive Phase III clinical data for obefazimod, its oral ulcerative colitis treatment. The positive data drove overwhelming investor demand, resulting in a significantly upsized Nasdaq public offering that fetched $747.5 million in gross proceeds. CEO Marc de Garidel highlighted the drug’s potential blockbuster status pending maintenance trial confirmation. The funds are earmarked mainly for clinical development in ulcerative colitis and Crohn’s disease, as well as commercialization preparations. This breakthrough marks a historic week for Abivax, with U.S. and European shares soaring exponentially immediately after the data release and public offering.