Core Insights - Absci Corporation has successfully delivered AI-designed antibody sequences to AstraZeneca, marking the achievement of the first milestone in their collaboration [2][3] - The company has entered a new partnership with Twist Bioscience to design a novel therapeutic using generative AI, aiming to accelerate the development of a key biological target [2][3] - Absci continues to advance its internal pipeline programs, including ABS-101, ABS-201, and ABS-301, with plans to initiate Phase 1 clinical studies for ABS-101 in the first half of 2025 [3] Financial Performance - For Q3 2024, Absci reported revenues of $1.7 million, an increase from $0.7 million in Q3 2023, driven by progress in partnered programs [6] - Research and development expenses rose to $18.0 million in Q3 2024 from $11.0 million in Q3 2023, primarily due to increased lab operations and costs associated with IND-enabling studies for ABS-101 [7] - The net loss for Q3 2024 was $27.4 million, compared to a net loss of $22.0 million in Q3 2023 [8] Cash Position and Outlook - Absci expects a gross use of cash, cash equivalents, and short-term investments of approximately $75 million for the fiscal year ending December 31, 2024, down from a previous estimate of $80 million [4] - As of September 30, 2024, the company had cash, cash equivalents, and short-term investments totaling $127.1 million, a decrease from $145.2 million as of June 30, 2024 [9] - The company believes its existing cash resources will be sufficient to fund operations into the first half of 2027 [5]

VANCOUVER, Wash. and NEW YORK, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI), a data-first generative AI drug creation company, today announced the company will report business updates and financial and operating results for the third quarter before market open on Tuesday, November 12, 2024. Absci management will webcast a corresponding conference call beginning at 8:00 a.m. Eastern Time / 5:00 a.m. Pacific Time to discuss its business developments, financial and operating results, and ...

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VANCOUVER, Wash. and NEW YORK, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI), a data-first generative AI drug creation company, today announced the company will be participating in the following upcoming investor conferences. Morgan Stanley 22nd Annual Global Healthcare ConferenceFireside chat on Thursday, September 5th at 5:35 p.m. Eastern Time Citi 2024 Global TMT Conference Fireside chat on Friday, September 6th at 8:20 a.m. Eastern Time H.C. Wainwright 26th Annual Global Investment ...

Absci Corporation (NASDAQ:ABSI) Q2 2024 Earnings Conference Call August 14, 2024 4:30 PM ET Company Participants Alex Khan - VP, Finance and IR Sean McClain - Founder and CEO Zach Jonasson - CFO and Chief Business Officer Christian Stegmann - SVP of Drug Creation Conference Call Participants Steven Mah - TD Cowen Srikripa Devarakonda - Truist George Farmer - Scotiabank Scott Schoenhaus - KeyBanc Operator Good day and thank you for standing by. Welcome to the Absci Second Quarter 2024 Business Update Confere ...

Absci Corporation (ABSI) came out with a quarterly loss of $0.22 per share versus the Zacks Consensus Estimate of a loss of $0.19. This compares to loss of $0.27 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -15.79%. A quarter ago, it was expected that this company would post a loss of $0.19 per share when it actually produced a loss of $0.22, delivering a surprise of -15.79%.Over the last four quarters, the company has not ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to __________ Commission file number 001-40646 ABSCI CORPORATION (Exact name of registrant as specified in its charter) Delaware 85 ...

Exhibit 99.1 Absci Reports Business Updates and Second Quarter 2024 Financial and Operating Results Released results from non-human primate studies for ABS-101, demonstrating 2-3x extended half-life as compared to antibodies in clinical development Entered into collaboration with Memorial Sloan Kettering Cancer Center to co-develop up to six novel oncology therapeutics VANCOUVER, Wash. and NEW YORK, August 14, 2024 – Absci Corporation (Nasdaq: ABSI), a data-first generative AI drug creation company, today r ...

Released results from non-human primate studies for ABS-101, demonstrating 2-3x extended half-life as compared to antibodies in clinical development Entered into collaboration with Memorial Sloan Kettering Cancer Center to co-develop up to six novel oncology therapeutics VANCOUVER, Wash. and NEW YORK, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI), a data-first generative AI drug creation company, today reported financial and operating results for the quarter ended June 30, 2024. "Our re ...

VANCOUVER, Wash. and NEW YORK, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Today, Absci Corporation (Nasdaq: ABSI), a data-first generative AI drug creation company, announced a collaboration with Memorial Sloan Kettering Cancer Center (MSK), a leading cancer treatment and research center, to discover and develop novel therapeutics using generative AI for up to six programs. Under the terms of the collaboration, Absci and MSK’s world-renowned cancer research teams will co-develop therapeutics using Absci’s Integrated ...