Abivax S.A. (ABVX) surged 19.70% in pre-market trading on Monday following a media report suggesting U.S. pharmaceutical giant Eli Lilly is interested in acquiring the French biotech company for 15 billion euros ($17.5 billion). The report, published by French outlet La Lettre, reignited merger speculation and drove significant investor interest.

The potential acquisition comes as Abivax's key drug, obefazimod, demonstrated positive Phase III trial results for ulcerative colitis treatment in July 2025, which previously sent its shares soaring over 500%. Analysts at Kepler Cheuvreux noted that Abivax has become a "highly attractive late-stage M&A target" due to the drug's potential, estimating a takeover valuation between 150-250 euros per share.

Abivax CEO Marc de Garidel emphasized the company's focus on developing obefazimod, calling it a potential "one of the most-used products in the next decade." The stock's pre-market rally reflects optimism about both the drug's commercial prospects and the likelihood of a strategic acquisition.