Absci Reports Q4 and Full Year 2024 Results on March 18, 2025

Absci Corporation (Nasdaq: ABSI), a data-first generative AI drug creation company, has announced that it will report its business updates and financial and operating results for the fourth quarter and full year 2024 after market close on Tuesday, March 18, 2025. The company's management will host a webcast to discuss these developments, financial and operating results, and outlook at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time). Live audio of the webcast will be available on the company's investor relations website at investors.absci.com, and the archived webcast will be accessible for replay after the event.

Absci's headquarters is in Vancouver, WA, with its AI Research Lab in New York City and an Innovation Center in Zug, Switzerland. The company combines AI with scalable wet lab technologies to create better biologics for patients, faster. Its Integrated Drug Creation™ platform unlocks the potential to accelerate time to clinic and increase the probability of success by simultaneously optimizing multiple drug characteristics important to both development and therapeutic benefit.



Absci's internal pipeline and partnerships have been making significant progress. The company anticipates initiating Phase 1 clinical studies for ABS-101, a potential best-in-class anti-TL1A antibody, in early 2025, with an interim data readout expected in the second half of 2025. ABS-101 has shown high affinity, high potency, favorable developability, and extended half-life in preclinical studies, and has the potential to bind both the TL1A monomer and trimer, which could lead to differentiated clinical efficacy.

The company also expects to advance ABS-201, a potential best-in-class antibody for an undisclosed dermatology target, to the selection of a development candidate in the second half of 2024. This program is designed for an indication with significant unmet need, where the efficacy of the pharmacological standard of care is not satisfactory.

Additionally, Absci anticipates completing mode-of-action validation studies for ABS-301, a potential first-in-class antibody for an undisclosed immuno-oncology target, in the second half of 2024. This program is a fully human antibody designed to bind to a novel target discovered through Absci's Reverse Immunology platform.

Absci's partnerships have also contributed to its growth and pipeline expansion. In December 2023, the company entered into a collaboration with AstraZeneca to deliver an AI-designed antibody against an oncology target. Under this agreement, Absci is entitled to receive an upfront commitment, research and development funding, and milestone payments, collectively totaling up to $247 million, in addition to royalties on product sales. In 2024, Absci entered into a partnership with Twist Bioscience to design a novel therapeutic using AI, integrating its AI platform with Twist's synthetic biology capabilities to accelerate the design and development of a novel antibody therapeutic for a key biological target.

Absci continues to expect a gross use of cash, cash equivalents, and short-term investments of approximately $75 million for the fiscal year ending December 31, 2024. This amount includes the expected costs associated with advancing the IND-enabling studies for ABS-101 with a third-party contract research organization. Based on the company's current plans, Absci believes its existing cash, cash equivalents, and short-term investments will be sufficient to fund its operations into the first half of 2027.

In summary, Absci's upcoming financial and operating results report, along with its business updates, will provide valuable insights into the company's progress in advancing its internal pipeline and partnerships. The company's AI-driven drug discovery platform, combined with its strategic collaborations, positions Absci well to continue delivering innovative therapeutics and driving growth in the biotechnology sector.