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Absci Corp | 8-K: Absci Reports Business Updates and Third Quarter 2024 Financial and Operating Results

Absci Corp | 8-K: Absci Reports Business Updates and Third Quarter 2024 Financial and Operating Results

Absci Corp | 8-K:Absci報告業務更新和2024年第三季度財務和經營業績
美股SEC公告 ·  2024/11/12 08:27

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Absci Corporation reported Q3 2024 financial results with revenue of $1.7M, up from $0.7M YoY, while net loss widened to $27.4M from $22.0M. The company successfully delivered AI-designed antibody sequences to AstraZeneca, achieving the first milestone in their oncology collaboration, and entered a new partnership with Twist Bioscience for novel antibody development.The company continues advancing its internal pipeline, with ABS-101 progressing through IND-enabling studies and planned Phase 1 trials in H1 2025. Development candidates for ABS-201 and ABS-301 are expected in H2 2024 and H1 2025, respectively. Absci plans to advance at least one additional internal asset program to lead stage in 2024.Management revised down its expected cash usage for 2024 to $75M from $80M previously. With $127.1M in cash and investments as of September 30, 2024, the company expects sufficient funding into H1 2027. Absci maintains its target of signing at least four drug creation partnerships in 2024, including one or more multi-program collaborations.
Absci Corporation reported Q3 2024 financial results with revenue of $1.7M, up from $0.7M YoY, while net loss widened to $27.4M from $22.0M. The company successfully delivered AI-designed antibody sequences to AstraZeneca, achieving the first milestone in their oncology collaboration, and entered a new partnership with Twist Bioscience for novel antibody development.The company continues advancing its internal pipeline, with ABS-101 progressing through IND-enabling studies and planned Phase 1 trials in H1 2025. Development candidates for ABS-201 and ABS-301 are expected in H2 2024 and H1 2025, respectively. Absci plans to advance at least one additional internal asset program to lead stage in 2024.Management revised down its expected cash usage for 2024 to $75M from $80M previously. With $127.1M in cash and investments as of September 30, 2024, the company expects sufficient funding into H1 2027. Absci maintains its target of signing at least four drug creation partnerships in 2024, including one or more multi-program collaborations.
Absci公司報告了2024年第三季度的財務結果,營業收入爲170萬美元,同比增長了70萬美元,而淨虧損擴大至2740萬美元,相較於2200萬美元。該公司成功交付了人工智能設計的抗體序列給阿斯利康,實現了其腫瘤學合作的第一個里程碑,並與Twist Bioscience建立了新夥伴關係,以開發新型抗體。該公司繼續推進其內部管線,ABS-101正在進行IND啓用研究,並計劃在2025年上半年進行1期臨牀試驗。ABS-201和ABS-301的開發候選預計分別在2024年下半年和2025年上半年推出。Absci計劃在2024年將至少一個額外的內部資產項目推進到主導階段。管理層將其2024年的現金使用預期從8000萬美元下調至7500萬美元。截至2024年9月30日,現金和投資總額爲12710萬美元,該公司預計資金充足,可以支持到2027年上半年。Absci保持其目標,即在2024年簽署至少四個藥物創制合作伙伴關係,包括一個或多個多項目合作。
Absci公司報告了2024年第三季度的財務結果,營業收入爲170萬美元,同比增長了70萬美元,而淨虧損擴大至2740萬美元,相較於2200萬美元。該公司成功交付了人工智能設計的抗體序列給阿斯利康,實現了其腫瘤學合作的第一個里程碑,並與Twist Bioscience建立了新夥伴關係,以開發新型抗體。該公司繼續推進其內部管線,ABS-101正在進行IND啓用研究,並計劃在2025年上半年進行1期臨牀試驗。ABS-201和ABS-301的開發候選預計分別在2024年下半年和2025年上半年推出。Absci計劃在2024年將至少一個額外的內部資產項目推進到主導階段。管理層將其2024年的現金使用預期從8000萬美元下調至7500萬美元。截至2024年9月30日,現金和投資總額爲12710萬美元,該公司預計資金充足,可以支持到2027年上半年。Absci保持其目標,即在2024年簽署至少四個藥物創制合作伙伴關係,包括一個或多個多項目合作。
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