Abivax S.A. (ABVX) stock is soaring 5.54% in pre-market trading, building on Wednesday's 5.67% gain, as investors react to the company's announcement of positive topline results from two global Phase 3 trials of its experimental drug obefazimod for treating moderate to severely active ulcerative colitis.

The French biotech firm reported that obefazimod met its primary endpoint of clinical remission in both the Abtect-1 and Abtect-2 studies. The 50 mg once-daily dose of the drug achieved statistically significant remission rates compared to placebo after 8 weeks of treatment. Abtect-1 showed a placebo-adjusted remission rate of 19.3%, while Abtect-2 demonstrated a 13.4% benefit over placebo. Additionally, the treatment met all key secondary endpoints, including clinical response and endoscopic improvement.

The promising results have prompted several analysts to raise their price targets for Abivax. Leerink Partners increased its target price to $74 from $20, while Piper Sandler raised its target to $70 from $42. BTIG also joined the bullish sentiment, raising its target price to $112 from $43. Abivax plans to file for FDA approval in late 2026, pending positive results from an ongoing 44-week maintenance study expected in Q2 2026. The market's enthusiastic response reflects growing confidence in obefazimod's potential to disrupt the competitive inflammatory bowel disease market.