Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $1.2 million, reflecting ongoing progress in partner programs [19] - Research and development expenses increased to $16.4 million from $12.2 million in the prior year, driven by advancements in internal programs [19] - Selling, general and administrative expenses rose to $9.5 million from $8.7 million, primarily due to increased stock compensation [20] - Cash, cash equivalents, and short-term investments at the end of the quarter totaled $134 million, up from $112.4 million as of December 31, 2024 [20] Business Line Data and Key Metrics Changes - The company initiated its first in-human clinical trial for ABS 101, marking its transition to a clinical-stage biotech [6] - ABS 201, targeting androgenetic alopecia, is progressing towards a first-in-human trial expected in early 2026 [13] - The company is advancing multiple programs, including ABS 301 and ABS 501, with ongoing preclinical studies [14][42] Market Data and Key Metrics Changes - ABS 201 targets a market of approximately 80 million adults in the U.S. affected by androgenetic alopecia, with potential for significant therapeutic innovation [11] - The company is exploring additional indications for ABS 201, including endometriosis, indicating a broader market strategy [34] Company Strategy and Development Direction - The company aims to leverage its AI platform to design novel therapeutics addressing unmet medical needs, focusing on high-value proprietary internal programs [17] - Plans to retain and develop ABS 201 through later stages of clinical development to maximize value [19] - The company is engaged in discussions with potential partners for drug creation partnerships, anticipating signing agreements with large pharma [16][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to execute across its portfolio, with a strong balance sheet supporting ongoing investments [21] - The FDA's proposal to reduce animal testing aligns with the company's AI-driven approach to drug development, presenting a favorable regulatory environment [15][67] - Management expects to see enhanced deal terms for future partnerships due to recent clinical successes [61] Other Important Information - The company is committed to leading biotech innovation through AI, aiming to deliver life-changing treatments [16] - Interim results from the ABS 101 trial are expected later in 2025, with a focus on safety and tolerability [8][24] Q&A Session Summary Question: What are the expectations for ABS 101's phase one top line results? - Management is looking for a favorable safety profile, low immunogenicity, and target engagement similar to previous data presented [26][27] Question: Can ABS 201 potentially be self-administered in the future? - Management believes it could be self-administered but will initially work with dermatologists for effective administration [28] Question: How is market segmentation being approached for ABS 201? - The company sees potential efficacy across various segments of the androgenetic alopecia population and will evaluate this in clinical trials [31][33] Question: What is the expected timeline for ABS 301's development candidate? - The company is progressing towards a drug candidate nomination but has not disclosed a specific timeline [42] Question: How does the company view its cost structure in the current market? - The company is focused on leveraging efficiencies from its AI platform to potentially reduce costs and reallocate resources [62]

Financial Performance - Partner program revenue increased to $1,179,000 for the three months ended March 31, 2025, compared to $898,000 in the same period of 2024, representing a growth of approximately 31.2%[21] - The net loss for the three months ended March 31, 2025, was $26,346,000, compared to a net loss of $21,975,000 for the same period in 2024, indicating a year-over-year increase in losses of approximately 19.5%[21] - For the three months ended March 31, 2025, the net loss was $26.346 million, compared to a net loss of $21.975 million for the same period in 2024, representing an increase of approximately 19% in net loss year-over-year[25] - The company reported an operating loss of $27,729,000 for Q1 2025, compared to an operating loss of $23,498,000 in Q1 2024, reflecting a deterioration of about 17.5%[21] - Total operating expenses rose to $28,908,000 in Q1 2025, up from $24,396,000 in Q1 2024, reflecting an increase of about 18.5%[21] - Total stock-based compensation expense for the three months ended March 31, 2025, was $4.943 million, compared to $3.597 million for the same period in 2024, reflecting a 37.5% increase[48] Cash and Assets - Cash and cash equivalents increased to $46,995,000 as of March 31, 2025, from $41,213,000 as of December 31, 2024, showing a growth of about 14.0%[20] - Total assets grew to $232,447,000 as of March 31, 2025, compared to $213,608,000 as of December 31, 2024, marking an increase of approximately 8.8%[20] - As of March 31, 2025, the company had cash, cash equivalents, and restricted cash totaling $64.125 million, down from $76.307 million at the end of the first quarter of 2024, a decrease of about 16%[25] - The company’s investments in short-term investments as of March 31, 2025, were valued at $86.988 million, compared to $71.212 million as of December 31, 2024, representing an increase of approximately 22%[35] - The total stockholders' equity as of March 31, 2025, was $198.796 million, up from $179.133 million as of December 31, 2024, reflecting an increase of approximately 11%[23] Expenses and Liabilities - Research and development expenses for Q1 2025 were $16,364,000, up from $12,236,000 in Q1 2024, indicating a rise of about 33.5%[21] - The company’s accumulated deficit increased to $535,947,000 as of March 31, 2025, compared to $509,601,000 as of December 31, 2024, reflecting a growth in the deficit of approximately 5.2%[20] - The contingent consideration liability related to the acquisition of Totient, Inc. was $12.750 million as of March 31, 2025, unchanged from December 31, 2024[41] - The company has financial commitments of $2.0 million, $4.6 million, $8.3 million, and $2.3 million for the years 2025 through 2028 under its agreement with Oracle Cloud Infrastructure[43] Shareholder Activity - The weighted-average common shares outstanding increased to 124,461,439 in Q1 2025 from 99,393,333 in Q1 2024, representing an increase of approximately 25.3%[21] - The company issued common shares, net of issuance costs, totaling $41.689 million during the three months ended March 31, 2025, compared to $80.827 million for the same period in 2024, indicating a decrease of approximately 48%[25] - The company issued 5,269,192 shares during the three months ended March 31, 2025, generating net proceeds of $21.7 million from its at-the-market offering program[45] - A strategic collaboration with AMD resulted in the sale of 5,714,285 shares for net proceeds of $20.0 million, aimed at optimizing AI drug creation technologies[46] Strategic Focus - The company continues to rely on its Integrated Drug Creation platform for future growth and partnerships, emphasizing the importance of regulatory approvals and market acceptance for its product candidates[11] - The company’s approach to drug creation leverages generative AI and synthetic biology, aiming to enhance the design of antibody therapeutics[27] - The company has collaborative arrangements with several partners, including PrecisionLife and Memorial Sloan Kettering Cancer Center, which involve joint research and development activities[33] Stock Options - As of March 31, 2025, total unrecognized stock-based compensation related to stock options was $28.0 million, expected to be recognized over a remaining weighted average period of 2.3 years[49] - The estimated grant-date fair value of stock options for the three months ended March 31, 2025, was based on a volatility of 90%-92% and a risk-free interest rate of 4.0%-4.4%[50] - The company had 21,758,054 stock options outstanding as of March 31, 2025, with an average exercise price of $3.39 per share[49]

Exhibit 99.1 Absci Reports Business Updates and First Quarter 2025 Financial and Operating Results Initiated dosing of participants in the first-in-human study of ABS-101 (anti-TL1A antibody), with interim data expected in the second half of 2025 ABS-201 (anti-PRLR) non-human primate (NHP) data demonstrate extended half life and high subcutaneous bioavailability; anticipate Phase 1 initiation in early 2026 Cash, cash equivalents, and short-term investments sufficient to fund operations into the first half o ...

Core Insights - Absci Corporation has initiated dosing of participants in the first-in-human study of ABS-101, an anti-TL1A antibody, with interim data expected in the second half of 2025 [1][5] - The company has released non-human primate data for ABS-201, an anti-PRLR antibody, showing extended half-life and high subcutaneous bioavailability, with Phase 1 initiation anticipated in early 2026 [1][5] - Absci's cash, cash equivalents, and short-term investments are sufficient to fund operations into the first half of 2027 [1][6] Internal Pipeline Updates - The first-in-human study of ABS-101 is a randomized, double-blind, placebo-controlled trial evaluating safety, tolerability, pharmacokinetics, and pharmacodynamics in approximately 40 healthy adult participants [5] - ABS-201 is being developed for androgenetic alopecia, targeting a significant unmet clinical need with a potential patient population of around 80 million in the U.S. [5] - The NHP study for ABS-201 demonstrated a high subcutaneous bioavailability of over 90% and the potential for Q8W-Q12W dosing intervals in humans [5] Financial Results - For Q1 2025, Absci reported revenue of $1.2 million, an increase from $0.9 million in Q1 2024 [7] - Research and development expenses rose to $16.4 million in Q1 2025 from $12.2 million in Q1 2024, driven by advancements in internal programs [8] - The net loss for Q1 2025 was $26.3 million, compared to $22.0 million in Q1 2024 [9] Cash Position - As of March 31, 2025, Absci had cash, cash equivalents, and short-term investments totaling $134.0 million, up from $112.4 million at the end of 2024 [10]

Absci becomes clinical stage company with ABS-101, first AI-designed biologic for IBD, beginning Phase 1 trial Preclinical data for ABS-101 demonstrates high potency and potential for quarterly dosing, an improvement in efficacy and convenience over first-generation anti-TL1As Interim data anticipated in the second half of 2025 VANCOUVER, Wash., May 13, 2025 (GLOBE NEWSWIRE) -- Absci Corporation (NASDAQ: ABSI) a clinical-stage biopharmaceutical company advancing breakthrough therapeutics with generative AI ...

VANCOUVER, Wash. and NEW YORK, April 14, 2025 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI), a data-first generative AI drug creation company, today announced the company will report business updates and financial and operating results for the first quarter 2025 after market close on Tuesday, May 13, 2025. Absci management will webcast a corresponding conference call beginning at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) to discuss its business developments, financial and operating results, and ...

Core Viewpoint - Absci Corporation (NASDAQ: ABSI) has experienced a significant decline in investor confidence, with shares dropping to just above $2, nearing its 52-week low since February 2025 [1] Company Summary - Absci Corporation's stock has seen a notable decrease in value, reflecting a loss of confidence among investors [1]

Core Insights - The pharmaceutical and healthcare sectors are characterized by significant volatility, with companies often facing long periods of unprofitability before achieving success, particularly when new products or clinical trial results emerge [1][2] - Tracking firms that attract investor interest can be beneficial, but caution is advised to avoid entering positions too late [2] Company Summaries Viking Therapeutics Inc. (VKTX) - Viking Therapeutics is gaining attention due to its potential contribution to the GLP-1 weight loss market, with its drug VK2735 completing enrollment for a Phase 2 clinical trial [4][5] - The stock forecast for Viking indicates a potential upside of 271.08%, with a 12-month price target of $95.18, compared to the current price of $25.65 [4] - Initial studies suggest VK2735 may facilitate faster weight loss than existing GLP-1 agonists, and it is being developed in both injectable and oral forms [5] - Despite the promising outlook, shares have declined over 67% in the year leading to March 27, 2025, due to investor impatience regarding the Phase 3 trial [6] Absci Corp. (ABSI) - Absci utilizes AI technology in drug development, with a 12-month stock price forecast indicating a potential upside of 181.48%, targeting $7.60 from a current price of $2.70 [8] - The company has reported significant successes in its drug pipeline, but also rising expenses, with R&D costs increasing by approximately 50% year-over-year, leading to net losses widening to $29 million [9][10] - Cash reserves have decreased to $112.4 million, necessitating careful management as the company seeks to build revenue-generating capacity [10] Elevance Health Inc. (ELV) - Elevance Health is positioned as a defensive play in healthcare, with a 12-month stock price forecast suggesting a 20.37% upside, targeting $519.81 from a current price of $431.84 [11] - The company boasts attractive valuation metrics, including a price-to-sales ratio of 0.55 and a low forward price-to-earnings ratio of 12.7, which may enhance efficiency and margins through AI integration [12] - Despite regulatory uncertainties in the health benefits industry, Elevance's strong market position is expected to provide resilience, with a consensus buy rating from 14 out of 16 analysts [12]

Core Points - U.S. stock futures are higher, with Dow futures up approximately 0.2% [1] - Absci Corporation reported a quarterly loss of 25 cents per share, missing the analyst consensus estimate of 23 cents per share, with sales of $665,000 missing the estimate of $1.778 million [2] Company Performance - Absci Corporation shares fell 9.4% to $2.79 in pre-market trading following the disappointing financial results [2] - Regencell Bioscience Holdings Limited shares dropped 16.1% to $26.50 after a significant increase of 70% the previous day [3] - Turkcell Iletisim Hizmetleri A.S. shares fell 14.8% to $6.43 in pre-market trading [3] - HealthEquity, Inc. shares declined 14.7% to $86.68 after reporting worse-than-expected quarterly earnings [3] - Tonix Pharmaceuticals Holding Corp. shares fell 13% to $17.87 due to weak quarterly sales [3] - Waterdrop Inc. shares declined 6.5% to $1.30 following a 5% drop on Tuesday [3] - Resolute Holdings Management, Inc. shares decreased 4.3% to $34.53 after an 18% dip on Tuesday [3] - Target Hospitality Corp. shares fell 3.8% to $5.63 in pre-market trading [3] - Alpha Technology Group Limited shares dropped 3.2% to $31.47 after a 14% gain on Tuesday [3]

Financial Data and Key Metrics Changes - Revenue in the fourth quarter was $0.7 million, reflecting progress in partner programs [37] - Research and development expenses increased to $18.4 million for the three months ending December 31, 2024, compared to $12.3 million for the prior year period, driven by advancements in internal programs [37] - Selling, general, and administrative expenses decreased to $8.8 million for the three months ending December 31, 2024, from $9.3 million in the prior year period [38] - The company ended the year with $112.4 million in cash, cash equivalents, and short-term investments, down from $127.1 million as of September 30, 2024 [38] Business Line Data and Key Metrics Changes - The ABS-201 program targeting androgenic alopecia is positioned as a potential flagship asset, with preclinical data suggesting high affinity and potency [19][21] - ABS-101, an anti-TL1A antibody, showed promising preclinical data indicating reduced internalization of TL1A complexes and prolonged target engagement [24][25] - ABS-301 and ABS-501 programs also demonstrated significant preclinical results, with ABS-301 showing potent anti-tumor response and ABS-501 confirming novel epitope interactions [26][27] Market Data and Key Metrics Changes - The market for androgenic alopecia is substantial, affecting approximately 80 million people in the US, with a significant unmet need for innovative treatments [20] - The company is exploring partnerships in the immuno-oncology and animal health markets, indicating a broad interest in various therapeutic areas [30][32] Company Strategy and Development Direction - The company aims to develop ABS-201 internally through later-stage clinical development to retain maximum value [23] - A strategic collaboration with AMD, including a $20 million investment, is expected to enhance the company's AI drug creation capabilities [15][39] - The focus is shifting towards a balanced portfolio of high-quality therapeutic programs, emphasizing internal programs and selective partnerships [33][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to execute across the portfolio, with expectations to become a clinical-stage biotech company as ABS-101 enters the clinic [44] - The company anticipates signing new partnerships, including with large pharma, to enhance its drug creation capabilities [36][44] - The existing cash reserves are projected to fund operations into the first half of 2027, supporting ongoing and future clinical studies [42][102] Other Important Information - The company has added four new partners to its ecosystem, enhancing its collaborative capabilities [8][29] - The focus on Generative AI for antibody design aims to create differentiated candidates and unlock novel biology for patient benefit [17] Q&A Session Summary Question: Plans for additional preclinical studies with ABS-101 and ABS-201 - Management confirmed that additional preclinical studies for ABS-101 are planned, with data to be disclosed at scientific conferences [51][52] Question: Updates on partner program developments - Management emphasized a focus on large pharma partnerships and potential out-licensing of ABS-101, aiming for significant upfront payments to extend cash runway [56][58] Question: Design and endpoints for the planned Phase I study of ABS-201 - The study will start with a single ascending dose (SAD) followed by a multiple ascending dose (MAD) study, with endpoints focused on hair density and terminal hair count [63][65] Question: Interest in large pharma partnerships and therapeutic areas - The focus is broad, with particular interest in immunology and oncology, leveraging the company's de novo design capabilities [67][70] Question: Expectations for interim readout of ABS-101 - The interim readout is expected to demonstrate sustained elevation of soluble TL1A in serum after a single dose [83][84] Question: Progress on the HIV program with Caltech - The collaboration is funded by the Gates Foundation, with plans to develop the molecule further based on preclinical data [98] Question: 2025 spending ramp and cash burn rate - The company reiterated that its balance sheet will support operations into the first half of 2027, with plans to advance Phase I studies for ABS-101 and ABS-201 [102]