Absci Q4 net loss $23.5M; initiates IND-enabling for ABS-101; AstraZeneca deal up to $247M

Absci Corp

FY23 net loss $110.6M, revenue $5.7M flat YoY; Q4 net loss $23.5M.
Initiated IND-enabling for ABS-101 (anti-TL1A); IND expected Q1 2025.
Signed AstraZeneca collaboration for up to $247M in milestones plus royalties.
Raised $86.4M in common stock offering; cash $97.7M at Dec 31; runway into H1 2027.
Appointed Sir Menelas Pangalos to Board and co-chair of Scientific Advisory Board.

item 2.02 item 9.01

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 financial results for the fourth quarter and full year ended December 31, 2023.

Period: the fourth quarter and full year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 21, 2024, Absci Corporation (the “Company”) announced its financial results for the fourth quarter and full year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001628280-24-012365

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