On June 2, Abivax S.A. fell 30.12% in pre-market trading, trading at $88.0/share, with trading volume of $2.0492 million.

On the news front, the company disclosed results from its Phase 3 maintenance trial evaluating obefazimod in adults with moderately to severely active ulcerative colitis. While the trial met its primary endpoint and both the 25 mg and 50 mg dose groups achieved their respective targets, reports indicated the trial data was complicated by cancer cases, triggering severe market concerns over drug safety. NASDAQ had previously halted trading in the stock due to pending news disclosure; upon resumption, shares were met with aggressive selling as investors repriced the drug's safety risk profile.

Notably, the stock had closed at $132.63 on May 29 following a period of optimism driven by robust cash reserves of €491.6 million disclosed in its latest earnings report. The sharp reversal underscores how safety signals in late-stage clinical trials can rapidly erode investor confidence in clinical-stage biotech companies despite positive efficacy data.

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