BUZZ - Traders say Abivax's stock price fell due to the release of data from a competitor's drug.

October 19 - ** Shares of Abivax (ABVX.PA) fell about 3%, after earlier dropping as much as 9.9%, before narrowing losses

**Some traders noted that competitor Gilead (GILD.O)'s pill achieved success in a mid-stage clinical trial for intestinal disease

** Gilead said its experimental once-daily oral drug emvistegrast (link) led to more patients experiencing relief from moderate-to-severe ulcerative colitis (a chronic intestinal disease) symptoms compared to a placebo

** Abivax's obefazimod met its primary target in a late-stage clinical trial in June (link), and the company said in July it still plans to submit a new drug application to the U.S. Food and Drug Administration (FDA) by the end of the year

** Including today's losses, the stock has fallen 37% so far this year

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