secwatch.observer — SEC 8-K summary
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Issuer:     Absci Corp (ABSI)
CIK:        0001672688
Form:       8-K
Filed at:   2022-05-11T23:59:59+00:00
Accession:  0001628280-22-013758
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Absci Q1 net loss $29.5M; cash $226M; signs Merck collaboration worth up to $610M
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- Net loss of $29.5M in Q1 2022 vs $11.0M in Q1 2021; R&D expense $15.8M, SG&A $10.9M.
- Cash and equivalents $226.0M as of March 31, 2022, sufficient to fund operations through end of 2024.
- Entered Merck collaboration for Bionic Enzyme generation; potential $610M in upfront and milestones plus royalties.
- Unveiled AI models for antibody affinity prediction and naturalness scoring; partnered with NVIDIA.
- Reiterates guidance of at least 8 new Active Programs in 2022 (60% YoY growth); 3 signed year-to-date.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1672688/000162828022013758/0001628280-22-013758-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1672688/000162828022013758/absc-20220511.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-013758

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer