Absci Prices $50mln IPO to Advance AI-Driven Drug Programs

Absci Corporation, a biopharma company using AI for drug discovery, has priced a $50 million public offering of 16.67 million shares of common stock at $3.00 per share. The offering is expected to close on July 25, 2025, and the net proceeds will support the company's internal pipeline and general corporate purposes. The stock currently trades at $2.855, down 18.6610% on NasdaqGS.

Absci Corporation, a biopharmaceutical company leveraging AI for drug discovery, has priced a $50 million public offering of 16.67 million shares of common stock at $3.00 per share. The offering is expected to close on July 25, 2025, and the net proceeds will support the company's internal pipeline and general corporate purposes. The stock currently trades at $2.855, down 18.6610% on NasdaqGS.

The public offering, managed by Morgan Stanley, J.P. Morgan, Jefferies, and TD Securities, will see Absci grant the underwriters a 30-day option to purchase up to an additional $7.5 million in shares. The funds raised will be used to advance Absci's internally developed programs and investments in its Integrated Drug Creation™ platform, as well as for general corporate purposes.

The offering is subject to market conditions and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the proposed offering. The preliminary prospectus supplement and accompanying prospectus, detailing the terms of the offering, will be filed with the SEC and can be obtained from the underwriters listed in the press release.

Absci Corporation, headquartered in Vancouver, WA, with AI Research Lab in New York City and an Innovation Center in Zug, Switzerland, combines AI with scalable wet lab technologies to create better biologics for patients faster. The company's stock has seen increased institutional investment, with major hedge funds such as FMR LLC, ARK Investment Management LLC, and Massachusetts Financial Services adding shares to their portfolios in the first quarter of 2025.

Wall Street analysts have issued buy ratings on Absci's stock, with analysts setting price targets ranging from $7.0 to $10.0. The median price target is $9.0, reflecting the market's optimism in the company's prospects.

References:
[1] https://www.nasdaq.com/articles/absci-corporation-initiates-50-million-underwritten-public-offering-common-stock