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Abivax S.A.

For the period ended Dec 31, 2024. Filed Mar 24, 2025.

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About this filing

The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.

FY2024 · Filed Mar 24, 2025

ABVX$85.73+1.8%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 20-F

(Mark One)

☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES

OR

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE

ACT OF 1934

For the fiscal year ended December 31, 2024

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES

OR

☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES

Date of event requiring this shell company report

Commission file number:001-41842

Abivax SA

(Exact name of Registrant as specified in its charter and translation of Registrant’s name into English)

France

(Jurisdiction of incorporation or organization)

7-11 boulevard Haussmann

75009 Paris, France

(Address of principal executive offices)

Marc de Garidel

Chief Executive Officer

7-11 boulevard Haussmann

75009 Paris, France

Tel:+33 (0)1 53 83 09 63

info@abivax.com

(Name, Telephone, Email and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act.

Title of each classTrading Symbol(s)Name of each exchange on which registered
American Depositary Shares, each representing one ordinary share, nominal value €0.01 per shareABVXThe Nasdaq Global Market
Ordinary shares, nominal value €0.01 per share**The Nasdaq Global Market*

*Not for trading, but only in connection with the registration of the American Depositary Shares.

Securities registered or to be registered pursuant to Section 12(g) of the Act. None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act. None

Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close

of the period covered by the annual report.

Ordinary shares:63,347,837 shares outstanding as of December 31, 2024

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities

Act.☐ Yes☒ No

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports

pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.☐ Yes☒ No

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of

the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant

was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.☒ Yes ☐

No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be

submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for

such shorter period that the registrant was required to submit such files).☒ Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,

or an emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” and “emerging

growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐Accelerated filer ☒Non-accelerated filer ☐Emerging growth company ☒

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by

check mark if the registrant has elected not to use the extended transition period for complying with any new or

revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act.☐

† The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting

Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of

the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15

U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial

statements of the registrant included in the filing reflect the correction of an error to previously issued financial

statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of

incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery

period pursuant to §240.10D-1(b).☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements

included in this filing:

U.S. GAAP☐

International Financial Reporting Standards as issued by the International Accounting Standards Board☒ Other☐

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement

item the registrant has elected to follow.☐ Item 17☐ Item 18

If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule

12b-2 of the Exchange Act).☐ Yes☒ No

TABLE OF CONTENTS

Page
INTRODUCTION ........................................................................................................................................4
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS ..............................................4
PART I .........................................................................................................................................................7
Item 1.Identity of Directors, Senior Management and Advisers ................................................7
Item 2.Offer Statistics and Expected Timetable .........................................................................8
Item 3.Key Information ..............................................................................................................9
Item 4.Information on the Company. ..........................................................................................60
Item 4A. Unresolved Staff Comments. ...........................................................................................101
Item 5.Operating and Financial Review and Prospects ..............................................................102
Item 6.Directors, Senior Management and Employees ..............................................................118
Item 7.Major Shareholders and Related Party Transactions .......................................................151
Item 8.Financial Information ......................................................................................................155
Item 9.The Offer and Listing ......................................................................................................156
Item 10.Additional Information. ...................................................................................................157
Item 11.Quantitative and Qualitative Disclosures About Market Risk ........................................172
Item 12.Description of Securities Other than Equity Securities ...................................................174
PART II ........................................................................................................................................................177
Item 13.Defaults, Dividend Arrearages and Delinquencies ..........................................................177
Item 14.Material Modifications to the Rights of Security Holders and Use of Proceeds .............178
Item 15.Controls and Procedures ..................................................................................................179
Item 16.[Reserved] ........................................................................................................................181
Item 16A.Audit Committee Financial Expert ..................................................................................181
Item 16B.Code of Ethics .................................................................................................................181
Item 16C.Principal Accountant Fees and Services ..........................................................................181
Item 16D.Exemptions from the Listing Standards for Audit Committees ......................................182
Item 16E.Purchases of Equity Securities by the Issuer and Affiliated Purchasers .........................182
Item 16F.Change in Registrant’s Certifying Accountant ................................................................182
Item 16G.Corporate Governance .....................................................................................................182
Item 16H.Mine Safety Disclosure ...................................................................................................182
Item 16I.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections ............................183
Item 16J.Insider Trading Policies ...................................................................................................183
Item 16K.Cybersecurity ...................................................................................................................183
PART III .......................................................................................................................................................185
Item 17.Financial Statements ........................................................................................................185
Item 18.Financial Statements ........................................................................................................186
Item 19.Exhibits ............................................................................................................................187
SIGNATURES .............................................................................................................................................190
INDEX TO THE CONSOLIDATED FINANCIAL STATEMENTS.........................................................F-1

INTRODUCTION

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.