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Form 10-Q - Quarterly report [Sections 13 or 15(d)]

Absci Corp

Announcement: ABSI 10-Q Quarterly Report

Form 8-K - Current report - Item 2.02 Item 9.01

Announcement: ABSI 8-K Special Filing

Performance Analysis:

Absci Corp is a generative AI drug creation company that aims to become a technology leader in biologic drug creation. The company has a unique Integrated Drug Creation platform that combines in silico modeling with wet lab testing, allowing them to generate immense real-world datasets and train and refine their deep learning models. The company has two business models; establishing partnerships with stakeholders in the drug development life cycle and developing their drug pipeline. The company had a total revenue of $5.7 million for the year ended December 31, 2022, compared to $4.8 million for the year ended December 31, 2021. The net losses for the years ended December 31, 2022, and 2021 were $104.9 million and $101.0 million, respectively. Research and development expenses increased by $14.3 million, or 32%, for the year ended December 31, 2022, compared to the year ended December 31, 2021. The company is located in Vancouver, Washington, and has research and development presence in Belgrade, Serbia, and AI Research Lab in New York, New York, and Innovation Center in Zug, Switzerland.

Forward-looking Analysis:

We believe that Absci Corp has good potential to grow revenue and long-term earnings if they can continue to establish technology development arrangements with new partners and increase the scope of existing partnerships. The company has invested heavily in research and development activities, establishing and maintaining their intellectual property portfolio, hiring personnel, and providing general and administrative support for these activities. The company has a unique Integrated Drug Creation platform that enables them to shorten preclinical development timelines and expand therapeutic possibilities. With a net loss of $104.9 million in 2022 and $101.0 million in 2021, the company needs to successfully commercialize their products and services to generate revenue and profitability in the future.

The biotech industry, where Absci Corp operates, is highly competitive, and the company faces competition from many established companies, as well as start-ups, that are developing novel biologics. The success of the company will, therefore, depend on their ability to innovate and provide novel solutions to the drug development industry. According to the CEO of Absci Corp, Sean McClain, "We believe our company is poised to transform the biopharmaceutical industry by harnessing the power of AI and synthetic biology to unlock the full potential of proteins." The industry is rapidly evolving, and companies that can keep up with technological advancements and changes in regulations are more likely to succeed in the long term.

In conclusion, Absci Corp has good potential to grow and become a technology leader in biologic drug creation if they can continue to establish partnerships with stakeholders in the drug development life cycle, increase the scope of existing partnerships, and successfully commercialize their products and services. However, the company faces competition from many established and start-up companies and needs to innovate and stay abreast of technological advancements and changes in regulations to succeed in the highly competitive biotech industry.

Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405]

Absci Corp's AI drug creation platform shows revenue growth potential

Absci, a generative AI drug creation company, has reported financial and operating results for the fourth quarter and full year ending December 31, 2022. It has exceeded full-year guidance by launching 10 new Active Programs in 2022, and anticipates at least ten new Active Programs in 2023. In addition, the company's strategic initiatives have strengthened its platform, talent, and infrastructure. 

Absci's generative AI capabilities and wet lab technologies have been integrated to create breakthroughs in drug creation. The company has demonstrated its ability to create and validate de novo antibodies using zero-shot generative AI, which unlocks potential to accelerate time to clinic and increase the probability of success for new drugs. 

The company has also focused on expanding its capabilities to develop an internal pipeline of assets. Andreas Busch, Chief Innovation Officer, is expected to advance the internal assets and demonstrate the power of their platform. With the completion of growth strategy, the company has plans to optimize pharmacokinetic properties for a Phase II candidate with an undisclosed partner, targeting an initial BLA filing within the next year. 

Absci's financial results demonstrate an increase in net loss of $58.4 million for the year ended December 31, 2022, which was driven by increased personnel, lab operation costs, and investments in platform expansion. Nonetheless, the company has generated significant progress and milestone achievement associated with ongoing programs, leading to an increase in revenue of $44.6 million for the year ended December 31, 2022. 

The company has sufficient funding to focus its investments and operations on strategic initiatives and near-term inflection points, providing cash and cash equivalents into late 2025. 

Absci's generative AI drug creation platform capabilities and wet lab technologies enable the company to create better biologics for patients, faster. With Absci's continued expansion and breakthroughs in drug creation, the outlook for the company appears promising for both current and potential investors.

$ABSI reports record-breaking year with ten new active programs and breakthroughs in drug creation

Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend]

Announcement: ABSI 10-Q Quarterly Report

Announcement: ABSI 10-Q Quarterly Report

Announcement: ABSI 8-K Special Filing

Announcement: ABSI 8-K Special Filing

Absci Corp's AI drug creation platform shows revenue growth potential

Absci Corp's AI drug creation platform shows revenue growth potential

$ABSI reports record-breaking year with ten new active programs and breakthroughs in drug creation

$ABSI reports record-breaking year with ten new active programs and breakthroughs in drug creation

Announcement: ABSI 8-K Special Filing

Announcement: ABSI 8-K Special Filing

Announcement: ABSI SC 13G/A Statement of acquisition of beneficial ownership by individuals - amendment

Announcement: ABSI SC 13G/A Statement of acquisition of beneficial ownership by individuals - amendment