Absci Corp Stock Price, News & Analysis

Absci Corporation (Nasdaq: ABSI) reported a strong performance in Q2 2022, signing ten Active Programs, exceeding its annual guidance of eight. Cash and equivalents stood at $206 million, down from $252.6 million at 2021's end. R&D expenses rose to $16.2 million, while SG&A expenses increased to $10.5 million. The net loss reduced to $28.7 million from $41.2 million year-over-year. A strategic reorganization aims to extend the cash runway into late 2025, focusing on AI-driven drug discovery. The company is projecting a net decrease in cash of approximately $110 million for 2022.

Absci Corporation (Nasdaq: ABSI) is set to participate in the UBS Genomics 2.0 and MedTech Innovations Summit Conference on August 9, 2022, at 3:00 p.m. PT. The event will feature a fireside chat with company management, accessible via a live and archived webcast on their investor relations website.

Absci is focused on drug and target discovery, leveraging deep learning AI and synthetic biology to enhance protein therapeutic potential. Their Integrated Drug Creation™ Platform enables efficient identification and development of novel biotherapeutics.

Absci Corporation (Nasdaq: ABSI) will participate virtually in the SVB Securities CybeRx event focusing on Big Data, A.I., and Machine Learning in Healthcare. The company is scheduled for the Drug R&D and Development panel on July 27, 2022, at 6:00 a.m. PT (9:00 a.m. ET). Absci is known for its innovative Integrated Drug Creation™ Platform, which leverages deep learning AI and synthetic biology to enhance protein therapeutic potential. The company aims to revolutionize drug discovery and development by creating next-generation protein-based drugs.

Absci Corporation (Nasdaq: ABSI) announced the hiring of two senior executives: Denise Dettore as Chief People Officer and Jack Gold as Chief Marketing Officer. Dettore brings 26 years of HR experience, including leadership roles in biotech and high-tech industries, while Gold has extensive marketing expertise from previous roles at Zymergen and Nike. Both leaders are expected to enhance Absci's growth and organizational culture as the company focuses on leveraging AI in drug discovery and advancing its brand.

Absci Corporation (Nasdaq: ABSI) announced a collaboration with an undisclosed stealth-mode biotech company, focusing on antibody-drug-conjugates (ADCs) for oncology. The partnership involves generating up to seven novel Bionic Antibodies using Absci’s Bionic Protein™ technology, which incorporates non-standard amino acids (nsAAs). This innovative approach aims to enhance the targeting and potency of ADCs while reducing toxicities. The financial terms remain undisclosed but include upfront payments, milestones, and royalties.

Absci Corporation (Nasdaq: ABSI) reported its Q1 2022 financial results, highlighting significant advancements in drug discovery technology and collaborations. The company entered a research collaboration with Merck with potential $610 million in payments. Absci unveiled breakthroughs in machine learning for antibody affinity predictions and developed a scoring model for antibody 'naturalness.' Financially, cash reserves stood at $226 million, funding operations through 2024, though net loss rose to $29.5 million. Absci projects 60% growth with at least eight new Active Programs in 2022.

Absci Corporation (Nasdaq: ABSI) announced its participation in the BofA Securities 2022 Healthcare Conference in Las Vegas, scheduled for May 11 at 5:20 p.m. PT. The company leverages deep learning AI and synthetic biology to enhance protein therapeutic potential. Absci's Integrated Drug Creation™ Platform identifies novel drug targets and optimizes biotherapeutic candidates efficiently. Investors can access the live and archived presentation via the company’s investor relations website.

Absci Corporation (Nasdaq: ABSI) has opened the Absci AI Research Lab (AAIR Lab) in Manhattan's Carnegie Hall Tower, enhancing its in-silico drug discovery capabilities. This strategic expansion follows Absci's recent advancements in machine learning for antibody optimization and its collaboration with NVIDIA. The lab aims to accelerate therapeutic protein design and support the Denovium™ Engine AI platform. CEO Sean McClain highlighted the significance of the location and the talent pool, emphasizing the company's vision for innovative drug development.

Absci Corporation (Nasdaq: ABSI) reported its financial results for Q4 and the full year 2021, highlighting a significant increase in R&D and administrative expenses. Revenue for Q4 was $1.5 million, down from $2.7 million in Q4 2020. For the full year, revenue remained stable at $4.8 million. R&D expenses surged to $44.6 million from $11.4 million year-over-year, contributing to a net loss of $101 million for 2021. Despite these challenges, Absci made strides by initiating collaborations with Merck and NVIDIA and expects to launch eight new Active Programs in 2022.