Financial Performance - Total operating income increased by EUR 7.9 million to EUR 12.5 million in FY 2024 compared to EUR 4.6 million in FY 2023[10] - Net loss for the period was EUR 176.2 million in FY 2024, compared to EUR 147.8 million in FY 2023, reflecting an increase of EUR 28.4 million[8] - The company reported a financial loss of EUR 3.3 million in FY 2024, significantly improved from EUR 20.4 million in FY 2023[8] Research and Development - Research and development (R&D) expenses rose by EUR 43.3 million to EUR 146.5 million in FY 2024, primarily due to the Phase 3 clinical trials for obefazimod[10] - The company expects full enrollment in the Phase 3 ABTECT trial for ulcerative colitis in Q2 2025, with top-line results anticipated in Q3 2025[5] Cash and Financial Position - Cash balance as of December 31, 2024, was EUR 144.2 million, providing a cash runway into Q4 2025[5] - Financial liabilities increased to EUR 114.0 million in FY 2024 from EUR 77.0 million in FY 2023[8] - The company plans to finance its operating cash flow requirements into Q4 2025, including expected reimbursement of EUR 5.7 million in research tax credits[11] Employee and Administrative Expenses - Total number of employees increased to 69 as of December 31, 2024, from 61 as of December 31, 2023[10] - General and administrative expenses increased by EUR 10.5 million to EUR 32.9 million in FY 2024, driven by increased headcount and legal fees[10]
Abivax(ABVX) - 2024 Q4 - Annual Report