Absci Q3 revenue $2.4M; cash burn guidance improved to ~$105M for 2022

Absci Corp

2022-Q3 EPS reported -$0.94 revenue$4,190,000

Cash and short-term investments $181.3M at Sep 30, down from $206.0M at Jun 30; operating cash use $19.0M in Q3.
Q3 revenue $2.4M vs $1.5M YoY, driven by Merck collaboration milestone and nsAA technology progress.
R&D expense $15.5M (+45% YoY); SG&A $11.4M; includes $2.7M severance charges.
Exceeded 2022 Active Program guidance: 10 signed YTD vs 8 target; total Active Programs now 17.
Appointed Andreas Busch as Chief Innovation Officer and Dan Rabinovitsj to Board; cash runway into late 2025.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Absci Corp reported the quarter ended September 30, 2022 results: revenue $2.4 million. Guidance reaffirmed.

Period: the quarter ended September 30, 2022
Revenue: $2.4 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Total Revenue was $2.4 million for the third quarter of 2022, as compared to $1.5 million for the third quarter of 2021.

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Source: SEC EDGAR

accession 0001628280-22-029091

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