secwatch.observer — SEC 8-K summary
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Issuer:     Absci Corp (ABSI)
CIK:        0001672688
Form:       8-K
Filed at:   2024-05-14T23:59:59+00:00
Accession:  0001628280-24-023060
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Absci reports Q1 net loss $22M, cash $161.5M; advances ABS-101 to IND-enabling studies
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- Q1 2024 revenue $0.9M (down from $1.3M YoY); net loss $22.0M vs $23.4M prior year.
- Cash, equivalents & short-term investments $161.5M as of Mar 31, 2024, up from $97.7M Dec 31, 2023; includes $86.4M gross from March offering.
- IND-enabling studies initiated for ABS-101 (anti-TL1A antibody) in Feb 2024; expects Phase 1 start early 2025, interim data H2 2025.
- Anticipates selecting development candidate for ABS-201 (dermatology) in H2 2024; ABS-301 (immuno-oncology) advancing.
- Expects to sign at least four drug creation partnerships in 2024; cash runway into H1 2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1672688/000162828024023060/0001628280-24-023060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1672688/000162828024023060/absc-20240514.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-023060

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