Absci Corporation (NASDAQ: ABSI) saw its stock price plummet 14.85% in pre-market trading, extending its losses following a 9.71% decline in the previous regular trading session. The significant drop comes in the wake of the company's disappointing third-quarter 2025 financial results, which were released on Wednesday and fell far short of analyst expectations.

The biotechnology company, which specializes in AI-powered drug discovery, reported alarmingly weak figures for Q3 2025. Absci's revenue plummeted to just $378,000, marking a steep 77.78% decrease compared to the same period last year and falling far below the analyst consensus estimate of $1.52 million. While the company's earnings per share (EPS) of $(0.20) slightly beat expectations of $(0.21), it still indicated substantial losses. Absci's net loss for the quarter widened to $28.7 million, with operating expenses remaining high at $30.5 million.

Despite reporting some positive developments in its drug pipeline, including interim Phase 1 results for ABS-101 and plans to initiate a Phase 1/2a trial for ABS-202 in December, these advancements were not enough to offset investor concerns. The market's focus remained firmly on Absci's declining revenue and expanding losses, leading to the significant stock price decline in both regular trading and pre-market hours. Adding to the negative sentiment, Needham cut its target price for Absci from $8 to $7, further pressuring the stock.