secwatch.observer — SEC 8-K summary
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Issuer:     Absci Corp (ABSI)
CIK:        0001672688
Form:       8-K
Filed at:   2024-08-14T23:59:59+00:00
Accession:  0001628280-24-037183
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Absci Q2 2024: revenue $1.3M, net loss $24.8M; ABS-101 half-life 2-3x; MSK collab
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- Q2 revenue $1.3M (down from $3.4M YoY); net loss $24.8M vs $41.7M (incl. $21.3M non-cash impairment in prior year).
- Cash, cash equivalents and short-term investments $145.2M; expects runway into H1 2027.
- ABS-101 NHP data: 2-3x extended half-life vs clinical anti-TL1A antibodies; 200 mg/mL formulation supports subcutaneous.
- Entered collaboration with Memorial Sloan Kettering to co-develop up to 6 novel oncology therapeutics using generative AI.
- Anticipates Phase 1 start for ABS-101 in early 2025; interim data readout expected H2 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1672688/000162828024037183/0001628280-24-037183-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1672688/000162828024037183/absc-20240814.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-037183

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer