Piper Sandler sets a price target of $142 for NASDAQ:ABVX, indicating a potential increase of 27.95%.The "Strong Buy" rating is driven by positive phase 3 ABTECT induction data for obefazimod, highlighting its potential in the ulcerative colitis therapy market.Abivax plans significant milestones in 2026, including filing for New Drug Application (NDA) and Marketing Authorization Application (MAA) if trials remain positive.Abivax SA (NASDAQ:ABVX) is a biopharmaceutical company focused on developing therapies ...

Core Viewpoint - Devonian Health Group Inc. reported its financial results for the fourth quarter and fiscal year ended July 31, 2025, highlighting a debt-free status and a strategic focus on advancing its Thykamine™ programs in the fibro-inflammatory space [2][5]. Financial Highlights - Fourth quarter distribution revenues were $1.3 million, representing an 87% decrease year over year, primarily due to the expiration of the distribution agreement for Dexlansoprazole [5][6]. - Annual distribution revenues totaled $23.6 million, marking a 22% increase year over year, with Dexlansoprazole accounting for 93% of these revenues [5][6]. - The company reported a fourth quarter net loss of $0.4 million, or $0.003 per share, compared to a net income of $0.75 million, or $0.003 earnings per share in the same quarter last year [5][6]. - For the fiscal year, the net loss was $6 million, or $0.041 per share, compared to a net loss of $1.83 million, or $0.012 per share in the previous year, largely due to a one-time goodwill impairment loss of $4.6 million [5][6]. - As of July 31, 2025, the company had $7 million in cash and was debt-free after repaying its long-term debt of $2.2 million during the fiscal year [5][6]. Business Highlights - Devonian completed preclinical studies to explore new applications of Thykamine™ for additional inflammatory diseases, including MASH and fibrosis [6]. - The company is focusing on a phase 2/3 study of Thykamine™ for pediatric mild-to-moderate atopic dermatitis [6]. - Devonian secured additional patent protection related to the mechanisms of action and other therapeutic applications of Thykamine™ [6]. - Pierre Labbé was appointed as a new board member, bringing extensive financial experience to the board [8][9]. About Thykamine™ - Thykamine™, developed from Devonian's SUPREX™ platform, is aimed at treating health conditions related to inflammation and oxidative stress, including ulcerative colitis and atopic dermatitis [13][14]. - The product has demonstrated anti-inflammatory, anti-oxidative, and immunomodulatory properties in various studies [13]. Company Overview - Devonian Health Group Inc. is a clinical stage pharmaceutical company focused on developing drugs for autoimmune inflammatory conditions, leveraging over 15 years of research [14][15]. - The company operates a state-of-the-art extraction facility in Québec and is publicly traded on the TSX Venture Exchange and OTCQB Venture Market [16].

Core Insights - Connect Biopharma is actively recruiting participants for Phase 2 Seabreeze STAT studies targeting acute exacerbations in asthma and COPD, with topline data expected in the first half of 2026 [1][5] - The New Drug Application (NDA) for rademikibart, aimed at treating atopic dermatitis, has been accepted by China's National Medical Products Administration (NMPA) [1][2] - The company has terminated its American Depositary Receipt (ADR) program and directly listed its ordinary shares on Nasdaq to enhance institutional visibility [1][5] - Positive data presented at the European Respiratory Society (ERS) Congress 2025 indicates rademikibart's potential for differentiated efficacy and safety across various type 2 inflammatory markers [1][5] Development Highlights - Recruitment for the Phase 2 Seabreeze STAT studies for asthma and COPD is ongoing, with topline data anticipated in 1H26 [1][5] - Significant improvements in lung function and asthma control were observed in a global Phase 2 trial of rademikibart, particularly in patients with elevated eosinophil counts and fractional exhaled nitric oxide levels [5] - Simcere Pharmaceutical, Connect's exclusive licensee in Greater China, submitted its NDA for rademikibart for atopic dermatitis in July 2025 [5] - The atopic dermatitis market in China presents a significant opportunity, with an estimated 70 million patients affected [5] Corporate Highlights - Connect Biopharma has completed the termination of its ADR program and directly listed its shares on Nasdaq to eliminate depositary fees and expand its investor base [1][5] - The company is eligible for up to $110 million in milestone payments from Simcere upon achieving specific development and regulatory milestones [5][8] - Connect Biopharma is collaborating with the Jovante Woods Foundation to raise awareness about acute asthma attacks [5] Financial Results - As of September 30, 2025, the company reported cash, cash equivalents, and short-term investments of $54.8 million, expected to fund operations into 2027 [11] - License and collaboration revenues for Q3 2025 were $16,000, a decrease from $1.2 million in Q3 2024, primarily due to the nature of the agreement with Simcere [11][16] - Research and development expenses increased to $11.1 million for Q3 2025, compared to $9.0 million in Q3 2024, driven by costs related to rademikibart development [11][16] - The net loss for Q3 2025 was $17.2 million, or $0.31 per share, compared to a net loss of $12.9 million, or $0.23 per share, in Q3 2024 [11][16]

Core Insights - Upstream Bio, Inc. reported positive top-line results from the VIBRANT Phase 2 trial of verekitug in chronic rhinosinusitis with nasal polyps (CRSwNP), demonstrating significant efficacy and a favorable safety profile [1][5] - The company is on track to report results from the VALIANT Phase 2 trial in severe asthma in the first quarter of 2026, with ongoing enrollment in the VENTURE Phase 2 trial for chronic obstructive pulmonary disease (COPD) [1][4][12] - Financial results for Q3 2025 show a net loss of $33.7 million, with increased research and development expenses primarily related to verekitug programs [8][10][19] Recent Business Highlights - The VIBRANT Phase 2 trial met its primary endpoint with a statistically significant reduction in placebo-adjusted endoscopic nasal polyp score of -1.8 (p<0.0001) [5] - Key secondary endpoints showed a reduction in nasal congestion score of -0.8 (p=0.0003) and a 76% (p=0.03) reduction in the need for surgery or systemic corticosteroids [5] - Structural and mechanistic data presented at the European Respiratory Society Congress highlighted verekitug's unique mechanism of action in disrupting TSLP signaling [2][12] Upcoming Milestones - Top-line data from the VALIANT Phase 2 trial in severe asthma is expected in Q1 2026, with the trial designed to assess efficacy and safety in extended dosing intervals of 12 and 24 weeks [4] - Enrollment is ongoing in the VENTURE Phase 2 trial for COPD, with the first patient dosed in July 2025 [1][12] Financial Overview - As of September 30, 2025, Upstream Bio had cash, cash equivalents, and short-term investments totaling $372.4 million, expected to fund operations through 2027 [8] - Research and development expenses for Q3 2025 were $33.0 million, up from $15.4 million in the same period in 2024, reflecting increased clinical and manufacturing costs [8][10] - General and administrative expenses rose to $5.5 million in Q3 2025, compared to $4.1 million in Q3 2024, driven by personnel-related costs [9]