This Stock Is Up 1,000% Over the Past Year. Is There More Upside Ahead?

Abivax, a French biotech company, saw its stock surge 1,000% over the past year following strong phase 3 results for obefazimod, a non-immunosuppressant ulcerative colitis treatment. However, recent maintenance trial data revealed safety concerns including cancer cases, causing a sharp stock decline. The author argues the market may be overreacting, noting that cancer cases were mostly in older patients and may be unrelated to the drug, while obefazimod still shows strong efficacy and oral convenience advantages.