Abivax FY24 Loss Widens

(RTTNews) - Biotechnology company Abivax SA (ABVX) on Monday posted a wider loss in its fiscal 2024, impacted by higher expenses. The company's operating income, however, rose from last year.

The company posted loss of 176.2 million euros in full-year 2024, compared to loss of 147.8 million euros a year ago. The loss was mainly due to higher interest expenses, non-cash expenses and increased transaction costs.

The company's operating loss widened to 172.9 million euros from 127.4 million euros las year.

Total operating income, however, climbed 13 percent to 12.5 million euros from 4.6 million euros in fiscal 2023. This was mainly due to additional research credits and increased subsidies.