Abivax SA (ABVX) said late Monday it closed an offering with gross proceeds of about $747.5 million, securing a 12-month cash runway following a planned submission of a new drug application for ulcerative colitis.

Each American depositary share in the 11.7 million offering represents one ordinary share.

The company expects the net proceeds, together with the cash and cash equivalents on its balance sheet, to finance its operations until Q4 2027.

The planned new drug application assumes the company will achieve positive results from its phase 3 maintenance trial of ulcerative colitis.