Abivax shares were trading on a hesitant note on the Paris Bourse on Thursday, following the publication of annual results deemed by analysts to be no great surprise.

Shortly before 12:00 p.m., the biotech company's shares advanced by 0.9%, after having fallen by 7% during the morning.

This morning, Abivax reported an operating loss of 56.6 million euros for the 2022 financial year, compared with -42.6 million euros in 2021, as a result of increased R&D investment and general and administrative expenses.

In a reaction note, Degroof Petercam's teams describe the publication as "unsurprising".

The only highlight is the announcement of an extension of financial visibility until the second quarter of 2024", says the Brussels-based brokerage firm.

Abivax, which states that its cash consumption is currently around seven million euros per month, points out that its capital increase of 130 million euros subscribed to in February ensures its financing until the end of the second quarter of 2024.

Analysts at Degroof Petercam, who have a buy recommendation on the stock, say they have adjusted their price target for the shares from 13.5 to 16.2 euros.

Thanks in particular to promising clinical results in rectocolitis hemorrhagica, Abivax shares have gained over 99% since the start of the year.

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