Absci(US:ABSI)2025-05-13 20:08Financial Performance - Revenue for Q1 2025 was $1.2 million, up from $0.9 million in Q1 2024, representing a 33.3% increase[7] - Net loss for Q1 2025 was $26.3 million, compared to a net loss of $22.0 million in Q1 2024, reflecting a 19.1% increase in losses[9] Expenses - Research and development expenses increased to $16.4 million in Q1 2025 from $12.2 million in Q1 2024, a rise of 34.4%[8] - Selling, general, and administrative expenses rose to $9.5 million in Q1 2025 compared to $8.7 million in Q1 2024, an increase of 9.2%[9] Cash and Investments - Cash, cash equivalents, and short-term investments as of March 31, 2025, were $134.0 million, up from $112.4 million as of December 31, 2024[10] - Cash and cash equivalents increased to $46,995,000 in March 2025, compared to $41,213,000 in December 2024, marking a rise of 14.0%[20] Assets and Liabilities - Total assets increased to $232,447,000 in March 2025 from $213,608,000 in December 2024, representing an increase of 8.6%[20] - Current assets rose to $155,978,000 in March 2025, up from $133,831,000 in December 2024, reflecting a growth of 16.5%[20] - Total liabilities decreased slightly to $33,651,000 in March 2025 from $34,475,000 in December 2024, a reduction of 2.4%[20] - Total current liabilities decreased to $27,281,000 in March 2025 from $28,656,000 in December 2024, a decrease of 4.8%[20] Stockholders' Equity - Stockholders' equity increased to $198,796,000 in March 2025, up from $179,133,000 in December 2024, indicating a growth of 11.0%[20] - Additional paid-in capital rose to $734,711,000 in March 2025, up from $688,726,000 in December 2024, an increase of 6.7%[20] Debt - Long-term debt decreased to $2,544,000 in March 2025 from $2,733,000 in December 2024, a decline of 6.9%[20] Clinical Trials and Partnerships - Initiated dosing of participants in the first-in-human study of ABS-101, with interim data expected in the second half of 2025[1] - ABS-201 demonstrated high subcutaneous bioavailability of over 90% in non-human primates, with potential for Q8W-Q12W dosing intervals in humans[3] - Anticipation of Phase 1 clinical trial initiation for ABS-201 in early 2026, with potential interim efficacy readout in the second half of 2026[4] - The company expects to sign one or more drug creation partnerships, including with a large pharmaceutical company, in 2025[12] Study Details - The primary endpoint of the ABS-101 study is safety and tolerability, with approximately 40 healthy adult participants expected to enroll[4] Accumulated Deficit - The accumulated deficit increased to $(535,947,000) in March 2025 from $(509,601,000) in December 2024, reflecting a worsening of 5.2%[20] Accounts Payable - Accounts payable rose to $4,947,000 in March 2025, compared to $3,529,000 in December 2024, an increase of 40.2%[20]