Absci Q2 Revenue Misses by 73%, Loss Widens; Cash Runway Extended to H2 2028
ABSI has more than doubled off its 52-week low of $2.24.
Summary
Absci's Q2 revenue of $318,000 missed consensus by 73%, while net loss widened to $33.2M on higher R&D spending for its lead asset ABS-201. The company completed a $100M offering with Eli Lilly, extending cash runway into H2 2028. Management guided for interim ABS-201 proof-of-concept data in H2 2026 and a Phase 2 endometriosis trial start in Q4 2026. The revenue miss and rising costs pressure the near-term outlook, but the extended runway and upcoming catalysts keep the story alive.
At the time of this announcement, ABSI was trading at $8.35 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.6B. The 52-week trading range was $2.24 to $12.06. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.