Absci(US:ABSI)2025-11-12 21:07Financial Performance - Revenue for Q3 2025 was $0.4 million, a decrease of 76% compared to $1.7 million in Q3 2024[8] - Net loss for Q3 2025 was $28.7 million, compared to a net loss of $27.4 million in Q3 2024, reflecting a 4.8% increase in losses year-over-year[10] Expenses - Research and development expenses increased to $19.2 million in Q3 2025 from $18.0 million in Q3 2024, driven by advancements in internal programs[9] - Selling, general, and administrative expenses decreased to $8.4 million in Q3 2025 from $9.3 million in Q3 2024, primarily due to reduced personnel-related expenses[10] Cash and Assets - Cash, cash equivalents, and marketable securities as of September 30, 2025, were $152.5 million, up from $117.5 million as of June 30, 2025[11] - Total assets increased to $244,992,000 as of September 30, 2025, up from $213,608,000 on December 31, 2024, representing a growth of 14.6%[21] - Current assets rose to $174,994,000, compared to $133,831,000 in the previous period, marking a 30.8% increase[21] - Cash and cash equivalents decreased to $9,476,000 from $41,213,000, a decline of 77%[21] - Stockholders' equity increased to $210,340,000 from $179,133,000, reflecting a growth of 17.4%[21] - Marketable securities significantly increased to $142,999,000 from $71,212,000, a rise of 100.1%[21] Liabilities - Total liabilities remained relatively stable at $34,652,000, slightly up from $34,475,000[21] - Accounts payable rose to $4,586,000 from $3,529,000, an increase of 29.9%[21] - Long-term debt decreased to $1,306,000 from $2,733,000, a reduction of 52.2%[21] Strategic Initiatives - The company is on track to initiate a Phase 1/2a trial for ABS-201 (anti-PRLR for androgenetic alopecia) in December 2025, with an interim efficacy readout expected in the second half of 2026[3] - Absci plans to expand the ABS-201 strategy to include endometriosis, anticipating a Phase 2 clinical trial initiation in Q4 2026[4] - The potential patient population for ABS-201 in androgenetic alopecia is approximately 80 million individuals in the U.S.[5] - The company has made a strategic decision to focus resources on ABS-201, foregoing additional later-stage development trials for ABS-101 at this time[5] - Absci expects to sign one or more drug creation partnerships, including with a large pharmaceutical company, in 2025[12] Capital Changes - Additional paid-in capital increased to $805,047,000 from $688,726,000, a growth of 16.9%[21] - The accumulated deficit widened to $(595,222,000) from $(509,601,000), indicating a decrease in retained earnings[21]