Abivax in no rush for deal, confident in June trial data: CEO

Abivax The company plans to raise money after announcing key trial data in June, its CEO told CNBC on Tuesday, signaling to potential buyers that the company is in no rush to sell.

Intense takeover rumors surrounding the French biotech company for months have impacted volatile shares, which are up nearly 1,700% in 2025. Analysts see it as a major takeover target, and many pharmaceutical giants are said to be potential buyers.

A second late-stage trial evaluating the long-term maintenance effect of Abivax’s lead and presence-only obephazimod will be readout later in the second quarter. The company said it plans to apply for U.S. Food and Drug Administration approval in the fourth quarter, depending on positive data.

The drug is widely viewed as potentially best-in-class for ulcerative colitis and is also being tested for the treatment of Crohn’s disease, opening it up to a multibillion-dollar market for Irritable Bowel Syndrome (IBS).

“For those outside the US, it again makes more sense to wait for aftercare, because as you know, the conditions will be better… because we are confident that this work will turn out positive,” Abivax CEO Marc de Garidel said when asked about future partnerships and agreements.

Three months before the data was read, the company said, “Why rush?” he said.

Investors view the next trial results as a major milestone for the company and one that potential buyers are watching closely.

De Garidel said it was “really likely” that Abivax would raise funds following maintenance data, potentially through a combination of equity financing and debt. “We are currently evaluating how much money we need to raise to reach profitability by, say, late June.” He added that the funds raised will be at least several million.

The company has consistently emphasized that it has enough cash to last through the end of 2027, and on Monday reported a cash pile of 530 million euros ($613 million) by the end of 2025. In July of last year, the company raised nearly $750 million shortly after another clinical trial, when shares jumped 510% in one day.

Abivax appears to be signaling to potential buyers not to rush to get offers. Also late Monday, the old takeda Vice President Michael Nesrallah will assume the role of chief commercial officer.

In 2025, research and development expenditures increased by 31.2 million euros to 177.8 million euros. Speaking to CNBC, de Garidel said overall spending will increase towards the end of 2026 and 2027, mostly due to commercial spending, and also highlighted more significant hiring on the commercial side in the next six months.

Van Lanschot Kempen analyst Sebastiaan van der Schoot said biotech companies approaching launch should always prepare to go it alone, without the backing or acquisition of a larger peer.

“But the general assumption is that these will be taken before they are approved and launched,” Van der Schoot said, adding that a positive maintenance trial outcome is already largely reflected in the company’s share price.

Stifel analyst Damien Choplain said earlier this month that given the strength of Abivax’s prior data and the scarcity of comparable assets, he expects a deal could be struck ahead of the maintenance data read, even if the next reading maxes out the value.

De Garidel said a global launch was too much for the small company, which currently has only around 150 employees.

“After the readout, we will look for a partner outside the US or partners to operate outside the US depending on who is interested and the profile of those companies,” he added.

However, U.S. President Donald Trump’s so-called Most Favored Nation drug pricing policy eventually became a complication as he attempted to launch oefazimod outside the U.S. MFN means that drug prices in the U.S. are pegged to the lowest paid in a similar country.

When the company eventually finds a partner outside the United States, “we have to keep in mind that not everything that partner does outside the United States jeopardizes what’s happening in the United States,” de Garidel said.