Absci(ABSI)2025-03-18 20:15Revenue Performance - Revenue for Q4 2024 was 0.3 million in Q4 2023, representing a 133% increase[7] - Full year 2024 revenue totaled 5.7 million in 2023, reflecting a 21% decrease[10] - Partner program revenue for Q4 2024 was 338,000 in Q4 2023[22] - Total revenues for the year ended December 31, 2024, were 5,718,000 in 2023[22] Research and Development Expenses - Research and development expenses for Q4 2024 were 12.3 million in Q4 2023, marking a 50% increase[8] - Full year 2024 research and development expenses reached 48.1 million in 2023, a 33% increase[11] - Research and development expenses increased to 12,269,000 in Q4 2023[22] Net Loss - Net loss for Q4 2024 was 23.5 million in Q4 2023, indicating a 23% increase in losses[9] - Full year 2024 net loss was 110.6 million in 2023, a 7% improvement[13] - Net loss for Q4 2024 was 23,545,000 in Q4 2023, reflecting a 23.5% increase in losses[22] - Basic and diluted net loss per share for the year was 1.20 in 2023[22] Cash and Assets - Cash, cash equivalents, and short-term investments as of December 31, 2024, were 127.1 million as of September 30, 2024[14] - Cash and cash equivalents decreased to 72,362,000 in 2023[24] - Total assets as of December 31, 2024, were 217,298,000 in 2023[24] Financial Position - Accumulated deficit increased to 406,495,000 in 2023, indicating a growing financial challenge[24] - Total stockholders' equity rose to 176,176,000 in 2023, showing a slight improvement[24] - Total operating expenses for the year decreased to 121,233,000 in 2023[22] Clinical Development - ABS-101 is expected to initiate Phase 1 clinical studies in the first half of 2025, with interim data readout anticipated in the second half of 2025[5] - ABS-201, targeting androgenic alopecia, has a potential patient population of approximately 80 million in the U.S.[5] - Absci entered into a strategic collaboration with AMD, which includes a $20 million equity investment[3]