Abivax Launches $650M Offering at $64 ADS Amid Trading Halt; Rocket Pharmaceuticals Cuts 30% Staff, Delays RP-L102 FDA Approval

Abivax has initiated a $650 million offering priced at $64 per American Depositary Share (ADS) and announced a temporary trading halt of its ordinary shares on Euronext Paris. Meanwhile, Rocket Pharmaceuticals is undergoing a strategic corporate reorganization, prioritizing its cardiovascular programs. This shift has led to an anticipated delay in the FDA approval of its RP-L102 treatment, no longer expected in 2026, and a 30% workforce reduction, equating to about 80 layoffs. Rocket’s decision also involves deprioritizing the Fanconi Anemia and Pyruvate Kinase Deficiency programs. The developments come as Abivax capitalizes on positive immune drug data, contrasting with Rocket’s pipeline narrowing and staff cuts.