Abivax Turns Cancer FUD Into 38% Pump in 24 Hours — Biotech's Version of a Relief Rally 🧬

Abivax shares jumped more than 38% on June 30, 2026, after new Phase 3 data eased cancer-safety fears that had wiped out 43% of the French biotech's market value earlier in June. The rebound came on the back of updated results for obefazimod, the company's lead ulcerative colitis treatment, which showed durable remission rates and no new safety signals. The single-session move erased roughly a month of losses tied to the prior safety scare.

The stock had collapsed 43% on June 2 after early trial data pointed to a rise in malignancies among patients taking obefazimod. On Sunday, June 28, Abivax released new Phase 3 data covering patients who had failed initial therapy. Researchers reported malignancy rates within the range clinicians typically observe in ulcerative colitis patients, addressing the concern that triggered the June 2 sell-off. The update was visible across the stock's one-month chart.

Among patients who failed initial treatment, 37.2% reached clinical remission and 34.5% reached endoscopic remission at week 44, figures the company said reinforced the drug's efficacy case in harder-to-treat populations. Abivax shares have now climbed more than 1,730% over the past year.

Wall Street remained divided on the residual risk. Citizens raised its Abivax price target to $187 and maintained an Outperform rating, citing the drug's placebo-adjusted remission benefit. Wedbush took a more cautious stance, upgrading Abivax from Underperform to Neutral but cutting its price target to $90, pointing to 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, keeping the stock sensitive to any additional safety data before then.