Absci partners with Almirall (up to $664M deal) and reports Q3 net loss of $22M

Absci Corp

Entered AI drug partnership with Almirall for dermatology; up to $664M in milestones plus royalties for two programs.
Q3 revenue fell to $0.7M from $2.4M YoY; net loss narrowed to $22.0M from $27.3M.
Unveiled four wholly-owned AI drug assets (cytokine biology); first IND filing expected early 2025.
Cash, equivalents, and short-term investments $113.5M; cash runway into late 2025.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

Absci Corp reported the quarter ended September 30, 2023 results: revenue $0.7 million, net income Net loss was $22.0 million.

Period: the quarter ended September 30, 2023
Revenue: $0.7 million
Net income: Net loss was $22.0 million
Result: reported results

Exact text from the filing

Revenue was $0.7 million for the three months ended September 30, 2023

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Source: SEC EDGAR

accession 0001628280-23-038977

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