From Cancer Scare to Comeback, Abivax Shares Erase a Month of Losses in a Day

Abivax shares surged over 38% on June 30, 2026, after new Phase 3 data eased cancer-safety fears that had erased 43% of the French biotech’s value earlier in June.

The rally follows fresh results for obefazimod, Abivax’s lead ulcerative colitis drug. The data showed durable remission with no new safety signals.

A Reversed Safety Signal

Abivax’s stock crashed 43% on June 2. Early trial data had shown a rise in malignancies among patients taking obefazimod.

The company released new Phase 3 data on Sunday, June 28, covering patients who failed initial treatment. Researchers found malignancy rates within the range doctors typically see in ulcerative colitis patients. The update calmed the safety concern that triggered the June 2 sell-off.

The cancer concerns, and subsequent update are visible on the stock’s 1-month chart. Image Source: Trading View

Among patients who failed initial treatment, 37.2% reached clinical remission and 34.5% reached endoscopic remission at week 44. Those results reinforced the drug’s efficacy case in harder-to-treat patients.

Abivax shares have now climbed more than 1,730% over the past year.

Wall Street Splits on the Risk

Analysts did not agree on how much risk remains. Citizens raised its Abivax price target to $187 and kept its Outperform rating, pointing to the drug’s placebo-adjusted remission benefit.

Wedbush took a more cautious view. The firm upgraded Abivax from Underperform to Neutral but cut its price target to $90. Wedbush cited lingering malignancy questions at the 50 mg dose as a regulatory risk.

Abivax still plans to file a new drug application with the FDA in the fourth quarter of 2026. That filing will keep the stock sensitive to any additional safety data before then.

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