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Abivax Suffers Severe 44% Drop on Ulcerative Colitis Trial Cancer Reports
- Abivax shares fell sharply following reports of non-melanoma skin cancers and other malignancies in its pivotal obefazimod study.
- The stock declined 44.10% to close at $72.50 on June 2, on volume that spiked to 11.6 times its 20-day average.
- Safety concerns in late-stage clinical trials can derail drug approvals, threatening the commercial future of Abivax's lead therapeutic candidate.
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Conclusion
ABVX close fell from $129.69 (June 1) to $72.50 (June 2) (-44.10%). Volume of 16,036,019 vs. 20-day average of 1,376,110 (11.6x ratio).