Marc de Garidel
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Biotech takeover target Abivax sinks over 30% after bowel disease drug trial update
Shares of French biotech Abivax tumbled as much 32% after it reported fresh data on its lead asset, a drug for ulcerative colitis. The medicine met its endpoints of demonstrating a clinically meaningful efficacy and a remission rate of about 40% for both doses tested, but also showed that there were cancer cases among patients taking the higher dose. "[The] cancer signal complicates matters," a Jefferies analyst said.