Abivax Stock Surges on Reports of $17.5 Billion Eli Lilly Takeover Interest

Abivax (ABVX) shares surged over 32% in pre-market trading and up to 30% in Europe after reports that Eli Lilly is preparing a €15 billion ($17.5 billion) acquisition bid, nearly twice its current market cap of about €7.78 billion.12

The interest stems from Abivax's lead drug obefazimod in Phase 3 trials for ulcerative colitis, with positive results announced in July boosting the stock from €42.6.12

Eli Lilly has not submitted a formal bid and is awaiting French Finance Ministry guidance on foreign investment controls, which may take up to three months.12

Abivax CEO stated major pharma cannot ignore obefazimod's potential; analysts at Morgan Stanley and BTIG raised price targets to $145 and $150 respectively.1

Retail sentiment on Stocktwits is bullish, with ABVX trending in the top 10; stock up 1,693% over past 12 months despite down 17% YTD.1

Sources:

1. https://stocktwits.com/news-articles/markets/equity/abvx-soars-pre-market-on-reports-of-17-5-billion-eli-lilly-takeover-interest/cmU9zJNR4E2

2. https://www.morningstar.com/news/dow-jones/202601121594/abivax-surges-on-report-ely-lily-is-preparing-175-billion-bid