(News Bulletin 247) – Oddo BHF confirms its ‘outperformance’ opinion and its target price of 30 euros on Abivax, the day after the announcement of a financing agreement which extends the cash horizon of the biopharmaceutical company ‘until ‘at the end of the second quarter of 2024 at least’.
He recalls that this financing of up to 150 million euros includes two structured financing operations, half of which with Kreos Capital/ Claret European Growth Capital and the rest subscribed by Heights Capital Management.
The analyst further says he is ‘convinced by the clinical benefits that obefazimod brings to UC patients following the excellent phase IIb results obtained during the induction and maintenance phase, which partially derisk phase III’ .
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