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Abivax presents first-half 2024 financial results

Abivax presents first-half 2024 financial results

Cash balance of EUR 222M at June 30, 2024; cash runway in to Q4 2025

PARIS, France, September 9, 2024, 10:00 p.m. CEST, Abivax SA (PARIS:FR) ("Abivax" or the "Company"), a clinical-stage biotechnology company focused on developing therapeutics that harness the body's natural regulatory mechanisms to modulate the inflammatory response in patients with chronic inflammatory diseases, announces today its 2024 half-year financial results, as of June 30, 2024. The interim financial statements for the first half of 2024, approved by the Company's Board of Directors on September 5, 2024, have been reviewed by the Company's external auditors.

Abivax recently provided updates on its business and operational goals in press releases published on July 15, 2024 ("Abivax provides operational and key program update") and August 6, 2024 ("Abivax Announces ABTECT Phase 3 Trial Achieves Key Enrollment Milestone").

First-half 2024 financial highlights (IFRS figures)

Income Statement

 

Six months ended June 30,

 

Change

in millions of euros

 

2024

2023

 

 

Total operating income

 

6.8

2.3

 

4.5

Total operating expenses

 

 

 

 

 

of which Research and Development costs

 

(64.7)

(32.6)

 

(32.1)

of which Sales and Marketing costs

 

(4.2)

(0.2)

 

(4.0)

of which General and Administrative costs

 

(17.9)

(6.8)

 

(11.1)

Operating loss

 

(80.0)

(37.3)

 

(42.7)

Financial (loss) gain

 

(1.6)

(14.7)

 

13.1

Net loss for the period

 

(81.6)

(52.0)

 

(29.6)

Balance Sheet

 

30/6/2024

31/12/2023

 

Change