Abivax (ABVX) said Thursday the underwriters of its American depositary share offering exercised in full their option to purchase an additional 960,000 ADSs, increasing gross proceeds to about $920 million.

The offering is expected to close Monday, subject to customary closing conditions.

Net proceeds, about $874.1 million, will be used to support the potential US commercialization of obefazimod, clinical research on ulcerative colitis and Crohn's disease, and for general corporate purposes, the company said.

Shares of Abivax were 5% higher in Thursday's premarket activity.