Abivax shares plunge 30% on cancer risk in ulcerative colitis drug data
French biotech Abivax saw its stock drop 30% after revealing that its lead drug for ulcerative colitis carries a potential cancer risk based on new clinical data.
ABVX
Shares of French biotechnology company Abivax tumbled by 30% following the release of updated data on its lead drug candidate for ulcerative colitis.
The company disclosed that the new findings indicate a potential risk of cancer development in patients receiving the treatment, triggering a sharp sell-off in the stock. The drug is a key asset in Abivax's pipeline.
The decline reflects investor concern over the drug's safety profile and its implications for regulatory approval and future commercialization.
Source: MarketTwits