ABSI · Absci Corporation

Absci Corporation announced its first quarter 2026 financial results, showing revenue of $0.2 million from partner programs, down from $1.2 million in the prior year, reflecting the early-stage nature of its clinical pipeline. Research and development expenses rose to $19.3 million from $16.4 million, driven primarily by direct costs for external preclinical and clinical development of ABS-201, the company's lead AI-designed long-acting anti-prolactin receptor antibody for androgenetic alopecia (AGA). Selling, general, and administrative expenses dipped slightly to $9.1 million from $9.5 million due to reduced personnel-related costs. This resulted in a net loss of $29.6 million, or $0.19 per share, compared to $26.3 million, or $0.21 per share, in the year-ago quarter. Cash, cash equivalents, and marketable securities stood at $125.7 million as of March 31, 2026, down from $144.3 million at year-end 2025, with management stating this supports operating plans into the first half of 2028. On the business front, Absci highlighted significant clinical progress for ABS-201, successfully dosing all four planned healthy volunteer single ascending dose (SAD) cohorts in the ongoing Phase 1/2a HEADLINE trial, with favorable safety data and preliminary PK modeling confirming the targeted dosing interval of two or three injections over six months. Dosing has begun in the first multiple ascending dose (MAD) cohort of AGA participants, with preliminary safety, tolerability, and PK data anticipated in Q2 2026, interim proof-of-concept in 2H 2026, and full data in early 2027. The company expanded its prolactin program by adding ABS-202, a preclinical anti-PRLR antibody for an undisclosed inflammation and immunology indication, and launched a clinical advisory board for ABS-201 in endometriosis, planning Phase 2 initiation in Q4 2026. CEO Sean McClain emphasized 2026 as a data-rich year, with ongoing partnering discussions for other programs including with a Large Pharma company.