Absci Q3 revenue $1.7M, net loss $27.4M; achieves AstraZeneca milestone, lowers 2024 cash burn guidance to ~$75M

Absci Corp

2024-Q3 EPS reported -$0.68 revenue$3,869,000

Revenue $1.7M (up from $0.7M YoY); net loss $27.4M vs $22.0M; cash $127.1M at Sept 30, 2024.
First milestone achieved under AstraZeneca AI antibody collaboration; entered Twist Bioscience partnership for novel antibody design.
Gross cash use expected ~$75M for FY2024, below prior guidance of ~$80M; cash runway into first half 2027.
ABS-101 on track for Phase 1 initiation H1 2025 with interim data H2 2025; ABS-201 candidate selection expected H2 2024.
R&D expenses $18.0M (up from $11.0M) driven by IND-enabling studies for ABS-101; SG&A $9.3M (down from $9.5M).

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