Absci Corporation (Nasdaq: ABSI), a clinical-stage biopharmaceutical company focused on developing breakthrough therapeutics using generative AI, has announced an underwritten public offering of $50 million worth of its common stock. The company plans to give underwriters a 30-day option to purchase an additional $7.5 million in shares. The proceeds from this offering will be used to advance Absci's internally developed programs, invest in its Integrated Drug Creation™ platform, and for general corporate purposes. The offering is being managed by Morgan Stanley, J.P. Morgan, Jefferies, and TD Securities $(USA)$ LLC, and is subject to market and other conditions.
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