Absci reported second quarter 2026 revenue of $0.3 million and a net loss per share of $0.21, missing analyst estimates as the company prioritizes clinical development over short-term revenue generation. Despite the financial miss, the company significantly de-risked its balance sheet through a $100 million underwritten offering, which included a $40 million strategic investment from Eli Lilly & Company, extending its liquidity into the second half of 2028.
Key Highlights
- Positive interim Phase 1 data for lead candidate ABS-201 indicated a half-life of at least 65 days, supporting a convenient dosing schedule of 2-3 injections per six-month period.
- Cash and marketable securities rose to $201.1 million as of June 30, 2026, up from $125.7 million in the previous quarter, following the successful capital raise.
- Research and development expenses increased to $22.6 million, up from $20.5 million year-over-year, driven by the advancement of the anti-PRLR antibody program into clinical stages.