US Stock Market Move | Therapy for ulcerative colitis drug Obezimod shows positive results; Abivax S.A. (ABVX.US) soars over 40%

On Tuesday, Abivax S.A. (ABVX.US) surged over 40% in early trading, now trading at $133.70. On the news front, Abivax announced additional Phase III maintenance therapy data for its investigational ulcerative colitis therapy, obefazimod, on Monday. The data showed that the therapy continued to provide clinical benefit in patients who failed initial induction therapy or experienced relapse during maintenance therapy. These results also expanded the safety database for the drug, as the company plans to submit a regulatory application in the United States later this year. According to the company, patients who did not respond after eight weeks of induction therapy but continued to receive obefazimod treatment reached clinically meaningful results in multiple efficacy endpoints by week 44.