Absci appoints new CFO; Q2 revenue up but net loss widens on $21.3M goodwill impairment

Absci Corp

Zach Jonasson, Ph.D. named CFO and CBO effective Aug 31, 2023, replacing retiring CFO Greg Schiffman.
Q2 revenue $3.4M vs $1.0M YoY; net loss $41.7M (incl. $21.3M goodwill impairment) vs $28.7M.
Cash and equivalents $124.6M; expects cash runway into late 2025.
Entered partnership with a Google Ventures-backed biotech; HIV vaccine collab with Caltech and Gates Foundation; completed Merck enzyme programs.
Expects at least 10 new Active Programs in 2023; gross cash use projected ~$90M.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Gregory Schiffman

Chief Financial Officer

ABSI · Absci Corp

Effective: 2023-08-30
Successor: Zachariah Jonasson
Filed: August 14, 2023, 7:59 PM ET

On August 11, 2023, Gregory Schiffman, the Company’s Chief Financial Officer, notified the Company of his decision to retire.

Appointed

Zachariah Jonasson

Chief Financial Officer and Chief Business Officer

ABSI · Absci Corp

Effective: 2023-08-31
Filed: August 14, 2023, 7:59 PM ET

On August 11, 2023, the Company’s Board of Directors appointed Zachariah Jonasson, Ph.D. as the Company’s Chief Financial Officer, Chief Business Officer and Treasurer, effective as of August 31, 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Absci Corp reported second quarter ended June 30, 2023 results: revenue $3.4 million, net income Net loss was $41.7 million. Guidance reaffirmed.

Period: second quarter ended June 30, 2023
Revenue: $3.4 million
Net income: Net loss was $41.7 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Revenue was $3.4 million for the three months ended June 30, 2023 compared to $1.0 million for the three months ended June 30, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Gregory Schiffman retired as Chief Financial Officer at Absci Corp.

Action: retired
Role: Chief Financial Officer

Exact text from the filing

On August 11, 2023, Gregory Schiffman, the Company’s Chief Financial Officer, notified the Company of his decision to retire.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Zachariah Jonasson was appointed as Chief Financial Officer and Chief Business Officer at Absci Corp.

Action: appointed
Role: Chief Financial Officer and Chief Business Officer

Exact text from the filing

On August 11, 2023, the Company’s Board of Directors appointed Zachariah Jonasson, Ph.D. as the Company’s Chief Financial Officer, Chief Business Officer and Treasurer, effective as of August 31, 2023.

View on SEC.gov

16 earnings releases filed in the last 30 days. Browse all earnings releases →

Absci Corp filing history →

Source: SEC EDGAR

accession 0001628280-23-029198

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