Abivax's debut on the Nasdaq lost over 14% on Friday, reflecting both the current difficult market conditions and investors' recent lack of interest in IPOs.

A quarter of an hour after its first listing, the French biotech company's stock is trading at around $10.10, well below its $11.60 IPO price.

This lacklustre debut comes as no real surprise given the current stock market environment, with the Nasdaq Biotechnology Index having fallen by more than 8% over the past three months.

Abivax had previously set a price of $11.60 for its Nasdaq IPO, at the bottom end of the $11.60-13 guidance range it announced this week.

As part of its capital increase, Abivax issued more than 20.3 new ordinary shares, including 18.7 million in the form of ADSs (American Depositary Shares).

According to analysts, the transaction should be sufficient to cover the company's financial needs to complete its strategy centered around the launch of its obefazimod product for ulcerative colitis (UC), currently in Phase III clinical trials.

On the Paris Bourse, Abivax shares were in line with the decline in New York-listed ADSs, shedding over 15% as trading resumed on Friday afternoon.

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