Abivax stock falls as cancer cases emerge in ulcerative colitis drug trial

Cancer cases in a key ulcerative colitis drug trial have significantly impacted Abivax, causing its stock to plummet. The company's lead drug, obefazimod, showed promising remission rates in a Phase 3 trial, but the emergence of cancer cases among participants has raised regulatory concerns. Abivax plans to seek US approval later this year, despite the ongoing debate about the drug's safety profile and its potential in the growing inflammatory bowel disease market.