Abivax spokesperson denies La Lettre reports

Speculation surrounding Abivax shares has cooled slightly, with the stock now up 3.63% at 99.80 euros, after surging as much as 17.96% in mid-morning trading.

This retreat follows a brief statement from a spokesperson for the French biotechnology company, who told Bloomberg, "we deny the rumors."

The statement refers to an article by La Lettre claiming that the company had granted AstraZeneca exclusive access to its data until March 23. According to the report, the Anglo-Swedish pharmaceutical giant had until that date to submit a formal takeover bid for the French biotech. If no offer were received by then, Abivax would reportedly have been free to negotiate with other suitors, notably Eli Lilly, whose name has frequently been linked with Abivax.