Abivax S.A., a clinical-stage French biotechnology company, develops obefazimod, an oral small molecule that upregulates micro-RNA miR-124 to modulate multiple inflammatory pathways in chronic inflammatory diseases such as ulcerative colitis and Crohn's disease. The company has reported positive Phase 3 induction results in ulcerative colitis and is advancing maintenance and Crohn’s disease studies. While no products have been commercialized yet, Abivax maintains robust liquidity exceeding €500 million to support ongoing clinical development. Operating losses widened due to intensified R&D activities, with net losses of €336.1 million in FY2025, reflecting the company's focus on pipeline advancement until regulatory approvals are obtained.