(RTTNews) - Wednesday, ABIVAX Société Anonyme (ABVX) announced the pricing of an underwritten public offering of 6.4 million American Depositary Shares or ADSs, each representing one ordinary share, 0.01 nominal value per share, of the company, for $125 per ADS.
The company has granted underwriters an option to purchase upto an additional 960,000 ADSs on or before the closing of the offering, which is scheduled on July 6, 2026.
The offering is expected to raise approximately $800 million, which will be utilized for expenses related to the potential commercialization of its lead drug candidate, obefazimod, in the United States; and clinical research and development expenses, primarily related to ulcerative colitis and Crohn's disease.
In the pre-market hours, ABVX is trading at $136.99, up 2.80 percent on the Nasdaq.
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