In this illustration photo, the Avivax logo is displayed on the tablet screen.
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french biotechnology Abibax He told CNBC that he denied media reports. AstraZeneca Negotiations were underway to acquire the company.
A report in French publication La L’Etre earlier Thursday, citing sources, said Anglo-Swedish company AstraZeneca had exclusive access to Avivax’s data since early February and had until March 23 to make a formal takeover offer.
Avivax stock.
An Avivax spokesperson told CNBC that the company denied the report in its entirety, but had no further comment on specific points in the article. AstraZeneca had previously declined to comment.
Avivax has been the subject of intense takeover speculation for months, sending its stock price soaring.
Avivax’s flagship asset, obefazimod, a drug used to treat ulcerative colitis, surprised investors last year with strong results in late-stage trials. Another assessment is expected in the second quarter.
Analysts told CNBC that Avivax could be a strategic acquisition for a large pharmaceutical company with franchises in immunology and inflammation. Eli Lilly It is also rumored that the company is in talks with Avivax regarding a possible acquisition. Both companies declined to comment.
Avivax shares rose as much as 15% on Thursday after the La Letter press release, but were last up about 4%.
