Announced positive interim Phase 1 data from the HEADLINE$(TM)$ trial of ABS-201
Completed $100 million underwritten offering, including $40 million strategic investment from Eli Lilly & Company
Cash, cash equivalents, and marketable securities now sufficient to fund operations into the second half of 2028
VANCOUVER, Wash. and NEW YORK, Aug. 11, 2026 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI), a clinical-stage biopharmaceutical company advancing breakthrough therapeutics designed with generative AI, today reported financial and operating results for the quarter ended June 30, 2026.
"The positive Phase 1 interim data from our HEADLINE trial, combined with our strengthened balance sheet and advancing platform, position us well for what comes next," said Sean McClain, Founder and CEO. "We are fast approaching defining moments for Absci, with interim proof-of-concept data for pattern hair loss later this year and our full 26-week readout in early 2027. These results have the potential to demonstrate ABS-201's regenerative mechanism and change the treatment paradigm for the millions of people living with pattern hair loss. And this is just the beginning for our prolactin receptor franchise within our overall proprietary pipeline, with endometriosis expansion ahead."
Recent Highlights
-- Reported positive interim Phase 1 data from Absci's first-in-human trial
of ABS-201 (anti-PRLR antibody). Blinded, aggregate interim data suggest
study drug was well tolerated and exhibited a favorable safety and
tolerability profile. Based on available interim pharmacokinetic $(PK)$
data across all four single ascending dose (SAD) cohorts, half-life for
ABS-201 is estimated to be at least 65 days. These results support the
potential for dosing two or three times over a six month period, pending
confirmation through continued follow-up across all cohorts.
-- Completed $100 million underwritten offering, including a $40 million
strategic equity investment from Eli Lilly & Company, and participation
from leading financial institutions including Adage, BVF Partners,
Columbia Threadneedle, Invus, Redmile, and a large investment management
firm.
-- Continuing to dose participants with pattern hair loss (PHL) in multiple
ascending dose (MAD) portion of the HEADLINE trial. Absci anticipates
reporting interim proof-of-concept data from this study in the second
half of 2026 and full proof-of-concept data in early 2027.
Prolactin (PRL) Program Portfolio
-- ABS-201 for Pattern Hair Loss: ABS-201, currently undergoing Phase 1/2a
studies, is being developed for pattern hair loss (PHL). Absci believes
that ABS-201, if successfully developed and approved, could provide a
significant new category of PHL treatment that offers the potential for
durable hair growth with a convenient administration profile. In June,
Absci announced positive interim Phase 1 data from the HEADLINE trial,
demonstrating that the study medication appears well tolerated, with
favorable safety data across all blinded single ascending dose (SAD)
cohorts. Additionally, the estimated half-life of at least 65 days
supports the potential for ABS-201's targeted dosing interval of two or
three injections over a six-month period. Absci anticipates reporting
interim proof-of-concept data in the second half of 2026 and full
proof-of-concept data in early 2027.
-- ABS-201 for Endometriosis: Endometriosis is a condition that impacts a
large, underserved patient population with significant unmet medical need
and poor standard of care. Endometriosis is prevalent in up to 10% of
women worldwide, including an estimated 9 million women in the U.S., and
there is currently no FDA-approved disease-modifying therapy. ABS-201 for
endometriosis represents a novel non-sex steroid hormone mechanism, with
potential to be disease-modifying, act on both pain and lesion growth,
and offer an improved safety profile. With the safety, tolerability, and
PK data generated in the ongoing HEADLINE trial, Absci anticipates
initiation of a Phase 2 clinical trial for endometriosis in the fourth
quarter of 2026, with potential proof-of-concept data in the second half
of 2027.
-- ABS-202 for Undisclosed I&I Indication: ABS-202 is an anti-PRLR antibody
in preclinical development for an undisclosed I&I indication.
Other Internal Pipeline Programs and Partnerships
Absci continues to advance its ongoing drug creation partnered programs, as well as partnering discussions for other internal programs at various stages of preclinical and clinical development.
Absci's new partnership with Eli Lilly is tailored around the clinical development strategy for ABS-201, and does not confer any program rights to Eli Lilly. As part of Eli Lilly's $40 million strategic investment in Absci, a representative from Eli Lilly has joined Absci's Endometriosis Advisory Board.
Recent Publications, Presentations, and Abstracts
Peer-Reviewed Publications
-- mAbs 2026: "Efficient inference of non-polyreactive antibody variants
dependent on local fine-tuning"
Accepted Presentations and Abstracts
-- American Academy of Dermatology Innovation Academy (AAD) 2026: "ABS-201,
an AI-designed Antibody, Blocks Prolactin/PRLR Signaling and Presents a
Novel Biologic Strategy for the Treatment of Androgenetic Alopecia"
-- Summer RosettaCon 2026: "Origin-1: A Generative AI Platform for De Novo
Antibody Design Against Novel Epitopes"
-- Third Barcelona Hair Meeting 2026: "ABS-201-Mediated Prolactin Receptor
Inhibition Promotes Hair Growth in Androgen-Sensitive Male Scalp"
-- European Academy of Dermatology and Venereology Congress (EADV) 2026:
"Prolactin Receptor Antagonism by ABS-201 Drives Hair Follicle Growth and
Stem/Progenitor Cell Expansion in Human Male Scalp Skin"
-- American Society for Reproductive Medicine (ASRM) 2026: "Prolactin
Receptor Blockade With Anti-Prolactin Receptor Antibody (Anti-PRLR Ab)
Relieves Pain and Inflammation in a Homologous Transplant Mouse Model of
Endometriosis"
Second Quarter 2026 Financial Results
Revenue was $0.3 million for the three months ended June 30, 2026, compared to $0.6 million for the three months ended June 30, 2025.
Research and development expenses were $22.6 million for the three months ended June 30, 2026, compared to $20.5 million for the three months ended June 30, 2025. This increase was primarily driven by advancement of Absci's internal programs, including direct costs associated with external preclinical and clinical development of ABS-201, offset by a decrease in personnel-related costs.
Selling, general, and administrative expenses were $9.2 million for the three months ended June 30, 2026, compared to $8.5 million for the three months ended June 30, 2025. This increase was primarily due to stock-based compensation and other administrative costs.
Net loss was $33.2 million for the three months ended June 30, 2026, compared to $30.6 million for the three months ended June 30, 2025.
Cash, cash equivalents, and marketable securities as of June 30, 2026 were $201.1 million, compared to $125.7 million as of March 31, 2026. The cash, cash equivalents, and marketable securities as of June 30, 2026 reflects $93.6 million of net proceeds from Absci's underwritten offering completed in June 2026.
Based on the company's current projections, Absci now believes its cash, cash equivalents, and marketable securities will be sufficient to fund its operating plans into the second half of 2028.
Webcast Information
Absci will host a conference call to discuss its second quarter 2026 business updates and financial and operating results on Tuesday, August 11, 2026 at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time. A webcast of the conference call can be accessed at investors.absci.com. The webcast will be archived and available for replay for at least 90 days after the event.
About Absci
Absci is advancing the future of drug discovery with generative design to create better biologics for patients, faster. Our Integrated Drug Creation(TM) platform combines cutting-edge AI models with a synthetic biology data engine, enabling the rapid design of innovative therapeutics that address challenging therapeutic targets. Absci's approach leverages a continuous feedback loop between advanced AI algorithms and wet lab validation. Each cycle refines our data and strengthens our models, facilitating rapid innovation and enhancing the precision of our therapeutic designs. Alongside collaborations with top pharmaceutical, biotech, tech, and academic leaders, Absci is advancing its own pipeline of AI designed therapeutics including ABS-201(TM), a groundbreaking innovation in hair regrowth with the potential to redefine treatment possibilities for androgenetic alopecia, commonly known as male and female pattern hair-loss. ABS-201 is also being investigated as a potential "best-in-class" therapeutic for endometriosis, a condition with significant unmet medical need and market potential. Absci is headquartered in Vancouver, WA, with AI Research Labs in New York City and Serbia, and an Innovation Center in Switzerland. Learn more at www.absci.com or follow us on LinkedIn (@absci), X (@Abscibio) and YouTube.
Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding any or all of the following: development and clinical progress of Absci's pipeline programs, including ABS-201, the design, enrollment, conduct, and timelines of our ongoing Phase 1/2a HEADLINE(TM) trial of ABS-201 for androgenetic alopecia; the anticipated timing of an interim proof-of-concept data readout for ABS-201 in the second half of 2026; the potential advancement of ABS-201 into Phase 3 development; the anticipated initiation of a Phase 2 clinical trial of ABS-201 for endometriosis in the fourth quarter of 2026 and a potential proof-of-concept readout in the second half of 2027; the anticipated characteristics and product profile of ABS-201 as a drug product, our target product profile and its attributes, the terms, anticipated benefits and strategic rational of our collaboration with Elil Lilly including Eli Lilly's participation in our Endometriosis Advisory Board; the potential for an expedited development pathway including the possibility of advancing directly from Phase 1/2a into Phase 3, our planned engagement with the FDA regarding development strategy, and potential market opportunity and commercial prospects for ABS-201 in pattern hair loss and endometriosis; projections regarding potential market opportunity based on various assumptions, including potential regulatory approval, the final approved label, and the evolving competitive landscape, any of which could cause our actual addressable market to differ materially from these projections; the capabilities, development, and anticipated benefits of our ATLAS platform; Absci's strategy, goals, anticipated financial performance and the sufficiency of its cash, cash equivalents and marketable securities to fund operating plans into the second half of 2028; and expected benefits of its collaborations with partners. Risks that contribute to the uncertain nature of the forward-looking statements include, without limitation, the risks and uncertainties discussed under the heading "Risk Factors" in Absci Corporation's most recent annual report on Form 10-K and in any other subsequent filings made by Absci Corporation with the U.S. Securities and Exchange Commission. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, other than to the extent required by law.
Investor Contact:
Alexander D.H. Khan
Corporate Vice President
Head of Investor Relations
investors@absci.com
Media Contact:
press@absci.com
Absci Corporation
Unaudited Condensed Consolidated Statements of Operations
For the Three Months Ended June For the Six Months Ended June
30, 30,
------------------------------- ------------------------------
(In thousands,
except for share
and per share
data) 2026 2025 2026 2025
------------ --------------
Revenues
Partner program
revenue $ 318 $ 593 $ 533 $ 1,772
Operating expenses
Research and
development 22,616 20,458 41,891 36,822
Selling, general
and
administrative 9,164 8,528 18,222 18,000
Depreciation and
amortization 2,696 3,000 5,424 6,072
----------- ----------- ----------- -----------
Total operating
expenses 34,476 31,986 65,537 60,894
----------- ----------- ----------- -----------
Operating loss (34,158) (31,393) (65,004) (59,122)
Other income
(expense)
Interest expense (2) (56) (20) (135)
Other income,
net 990 1,011 2,273 2,469
----------- ----------- ----------- -----------
Total other income,
net 988 955 2,253 2,334
----------- ----------- ----------- -----------
Loss before income
taxes (33,170) (30,438) (62,751) (56,788)
Income tax expense (40) (131) (58) (127)
----------- ----------- ----------- -----------
Net loss $ (33,210) $ (30,569) $ (62,809) $ (56,915)
=========== =========== =========== ===========
Net loss per share:
Basic and diluted $ (0.21) $ (0.24) $ (0.40) $ (0.45)
=========== =========== =========== ===========
Weighted-average
common shares
outstanding: Basic
and diluted 157,471,712 127,592,948 155,217,585 126,035,844
------------------- =========== =========== =========== ===========
Absci Corporation
Unaudited Condensed Consolidated Balance Sheets
----------------------------------------------------------------------
June 30, December 31,
(In thousands, except for share and per
share data) 2026 2025
---------- ----------------
ASSETS
Current assets:
Cash and cash equivalents $ 107,865 $ 20,025
Marketable securities 93,277 124,267
Prepaid expenses and other current
assets 7,124 5,281
-------- ---------
Total current assets 208,266 149,573
Operating lease right-of-use assets 2,442 2,914
Property and equipment, net 16,721 20,860
Intangibles, net 40,051 41,514
Restricted cash, long-term 1,054 1,053
Other long-term assets 383 383
-------- ---------
TOTAL ASSETS $ 268,917 $ 216,297
======== =========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses $ 16,257 $ 19,348
Long-term debt 150 873
Operating lease obligations 2,037 1,805
Deferred revenue 1,154 739
-------- ---------
Total current liabilities 19,598 22,765
Operating lease obligations, net of
current portion 1,642 2,624
Deferred revenue, long-term 240 436
Other long-term liabilities 1,306 1,023
-------- ---------
TOTAL LIABILITIES 22,786 26,848
-------- ---------
STOCKHOLDERS' EQUITY
Preferred stock -- --
Common stock 17 15
Additional paid-in capital 933,557 813,627
Accumulated deficit (687,593) (624,784)
Accumulated other comprehensive income 150 591
-------- ---------
TOTAL STOCKHOLDERS' EQUITY 246,131 189,449
-------- ---------
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY $ 268,917 $ 216,297
---------------------------------------- ======== =========