Absci Corp Stock Price, News & Analysis

Absci (Nasdaq: ABSI), a data-first generative AI drug creation company, has announced it will report business updates and financial and operating results for the third quarter of 2024 before market open on Tuesday, November 12, 2024. The company's management will host a conference call and webcast at 8:00 a.m. Eastern Time / 5:00 a.m. Pacific Time on the same day to discuss developments, results, and outlook.

Investors can access the live audio webcast on Absci's investor relations website at investors.absci.com. The webcast will also be archived for later replay. This announcement indicates Absci's commitment to transparency and shareholder communication, providing an opportunity for investors to gain insights into the company's performance and future prospects.

Absci (Nasdaq: ABSI), a data-first generative AI drug creation company, has announced its participation in three upcoming investor conferences in September 2024:

• Morgan Stanley 22nd Annual Global Healthcare Conference: Fireside chat on September 5th at 5:35 p.m. ET
• Citi 2024 Global TMT Conference: Fireside chat on September 6th at 8:20 a.m. ET
• H.C. Wainwright 26th Annual Global Investment Conference: Fireside chat on September 10th at 12:00 p.m. ET

Interested parties can access live and archived webcasts of these events on Absci's investor relations website at investors.absci.com.

Absci (Nasdaq: ABSI) reported Q2 2024 financial results and business updates. Key highlights include:

1. Non-human primate studies for ABS-101 showed 2-3x extended half-life compared to antibodies in clinical development.

2. Collaboration with Memorial Sloan Kettering Cancer Center to develop up to six novel oncology therapeutics.

3. Revenue decreased to $1.3 million from $3.4 million in Q2 2023.

4. Net loss reduced to $24.8 million from $41.7 million in Q2 2023.

5. Cash position of $145.2 million as of June 30, 2024.

6. Company expects to initiate Phase 1 clinical studies for ABS-101 in early 2025.

Absci (Nasdaq: ABSI) has announced a collaboration with Memorial Sloan Kettering Cancer Center (MSK) to discover and develop up to six novel cancer therapeutics using generative AI. This partnership combines Absci's Integrated Drug Creation™ platform with MSK's renowned cancer research expertise. The collaboration aims to advance cancer research and develop new therapies for patients.

This initiative adds to Absci's growing list of research and drug development collaborations, including partnerships with AstraZeneca, Almirall, Merck, and NVIDIA. Absci is also developing its own pipeline of drug candidates, such as ABS-101, a potential best-in-class anti-TL1A antibody designed using generative AI.

Absci (Nasdaq: ABSI), a leader in generative AI for drug creation, will release its second-quarter 2024 financial and operating results on August 14, 2024, after market close. The announcement will include business updates and financial performance. A follow-up conference call is scheduled for 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time. Investors can access the live audio webcast on Absci's investor relations website, with an archived replay available post-event.

Absci (Nasdaq: ABSI), a data-first generative AI drug creation company, announced on July 1, 2024, the granting of a non-statutory stock option to Ms. Shelby Walker, the new Chief Legal Officer. The option allows her to purchase 613,000 shares of Absci's common stock at an exercise price of $3.01 per share, the closing price on the grant date. This inducement grant, approved under Absci’s 2023 Inducement Plan, aims to attract and retain top talent. The 10-year term stock option vests over four years, with 25% vesting after one year and the remaining 75% vesting monthly over the following three years.

Absci (Nasdaq: ABSI) has announced its participation in the Morgan Stanley 3rd Annual Life Sciences AI Summit. The event is scheduled for June 26-27, 2024, in New York, NY. As a data-first generative AI drug creation company, Absci aims to showcase its innovative approaches in the life sciences sector during this prestigious summit. Interested individuals can contact their Morgan Stanley representatives for registration details.

Absci (Nasdaq: ABSI), specializing in generative AI for drug creation, announced its participation in the Goldman Sachs 45th Annual Global Healthcare Conference. The event is scheduled for June 10, 2024, at 2:00 p.m. Eastern Time in Miami, FL. Absci management will present at the conference, which will be accessible via live and archived webcast on the company's investor relations website.

Absci (Nasdaq: ABSI) reported its Q1 2024 financial and operational results, highlighting key advancements in its drug creation programs. The company initiated IND-enabling studies for ABS-101, a potential best-in-class anti-TL1A antibody, and progressed ABS-201 and ABS-301 through preclinical stages. Absci completed an $86.4 million public offering in March 2024, enhancing its financial position. Despite a decline in revenue to $0.9 million from $1.3 million year-over-year, net loss decreased from $23.4 million to $22.0 million. R&D expenses lowered to $12.2 million, and SG&A expenses reduced to $8.7 million. Absci's cash, equivalents, and short-term investments stood at $161.5 million as of March 31, 2024, expected to fund operations into H1 2027.