Absci's Q2 2025 Earnings Call: Unraveling Key Contradictions in Revenue Recognition, Dosing Strategies, and Clinical Timelines

Partner payments and revenue recognition, ABS-201 dosing schedule, Phase I study design and endpoints, timing of Phase III study and commercialization for ABS-201, ABS-101 half-life and dosing frequency are the key contradictions discussed in Absci's latest 2025Q2 earnings call.



Progress in Clinical Programs:
- Absci initiated Phase I clinical trials for ABS-101 and plans to advance ABS-201 towards Phase I/IIa trials in early '26, expecting proof-of-concept data later that year.
- The progress is driven by the potential of ABS-101 as a best-in-class anti-TL1A antibody and the promising profile of ABS-201 for treating androgenetic alopecia.

Strengthened Financial Position:
- Absci raised approximately $64 million in gross proceeds through a public offering and ATM facility, enhancing its cash runway into the first half of 2028.
- This strategic capital raise supports key clinical readouts and other potential catalysts, positioning the company for future growth.

AI Integration and Drug Creation Platform:
- The company's AI-driven drug creation platform continues to advance, with strategic investments like AMD's $20 million commitment reflecting its potential.
- Absci's capabilities in de novo AI design and targeting hard-to-drug targets, such as ion channels, are key differentiators in partnerships like the Almirall collaboration.

Partnership and Collaboration Growth:
- Absci continues to advance discussions with multiple prospective high-quality new partners and anticipates signing one or more drug creation partnerships, including with a large pharma company.
- These partnerships are driven by interest in Absci's platform capabilities and specific internal programs, reflecting the value of its AI-integrated drug creation platform.