Full Press Release Details
Absci Reports Business Updates and First Quarter 2026 Financial and Operating Results
Successfully dosed all four planned healthy volunteer SAD cohorts of ongoing ABS-201 HEADLINE trial well-tolerated with favorable emerging safety data
Preliminary pharmacokinetic (PK) modeling from HEADLINE trial supports ABS-201's targeted dosing interval
Initiated dosing of first MAD cohort of AGA participants of ongoing ABS-201 HEADLINE trial
Expanding prolactin program portfolio with addition of ABS-202 to internal pipeline
VANCOUVER, Wash. and NEW YORK, May 7, 2026 - Absci Corporation (Nasdaq ABSI), a clinical-stage biopharmaceutical company advancing breakthrough therapeutics designed with generative AI, today reported financial and operating results for the quarter ended March 31, 2026.
"2026 is going to be a data-rich year for Absci with multiple readouts ahead," said Sean McClain, Founder and CEO. "ABS-201, our AI-designed long-acting antibody against the prolactin receptor, has the potential to be the first new mechanism of action in androgenetic alopecia in nearly three decades, with a targeted dosing interval of just a few times a year. ABS-202, announced today, extends our prolactin work into a third therapeutic area. We're combining Origin with the prolactin biology we've built to go after a target that has been overlooked."
Successfully dosed all four planned healthy volunteer single ascending dose (SAD) cohorts of ongoing Phase 1 2a HEADLINE trial. To date, ABS-201 continues to be well tolerated, with favorable emerging safety data. Additionally, preliminary PK modeling from the company's ongoing clinical trial supports ABS-201's targeted dosing interval of two or three injections over a six-month period. Absci has also initiated dosing of the first multiple ascending dose (MAD) cohort of AGA participants. Absci anticipates reporting preliminary safety, tolerability, and PK data in the second quarter of 2026.
Expanded internal program pipeline with addition of ABS-202, a second novel anti-PRLR antibody currently in preclinical development for an undisclosed indication in inflammation and immunology (I I).
Launched endometriosis clinical advisory board for ABS-201 program, consisting of endometriosis and clinical development experts with backgrounds from renowned institutions including the Yale University School of Medicine, Duke University School of Medicine, UCSF, and the Mayo Clinic.
Prolactin (PRL) Program Portfolio
Absci is leveraging its leadership in prolactin biology to expand its pipeline of programs centered on prolactin and the prolactin receptor (PRLR). This growing portfolio currently includes
ABS-201 for Androgenetic Alopecia ABS-201, currently undergoing Phase 1 2a studies, is being developed for androgenetic alopecia (AGA), commonly known as male and female pattern hair loss. Absci believes that ABS-201, if successfully developed and approved, could provide a significant new category of AGA treatment that offers potentially durable hair growth with a convenient administration profile. Today, Absci announced that it has successfully dosed all four planned healthy volunteer single ascending dose (SAD) cohorts of the ongoing Phase 1 2a HEADLINE trial. To date, ABS-201 continues to be well tolerated, with favorable emerging safety data. Additionally, preliminary PK modeling from the company's ongoing clinical trial supports ABS-201's targeted dosing interval of two or three injections over a six-month period. Absci has also initiated dosing of the first multiple ascending dose (MAD) cohort of AGA participants. Absci anticipates reporting preliminary safety, tolerability, and PK data in the second quarter of 2026, with interim proof-of-concept data in the second half of 2026 and full proof-of-concept data in early 2027.
ABS-201 for Endometriosis Endometriosis is a condition that impacts a large, underserved patient population with significant unmet medical need and poor standard of care. Endometriosis is prevalent in up to 10% of women worldwide, including an estimated 9 million women in the U.S., and there is currently no FDA-approved disease-modifying therapy. ABS-201 for endometriosis represents a novel non-sex steroid hormone mechanism, with potential to be disease-modifying, act on both pain and lesion growth, and offer an improved safety profile. Absci anticipates initiation of a Phase 2 clinical trial for endometriosis in the fourth quarter of 2026, with potential proof-of-concept data in the second half of 2027.
ABS-202 for Undisclosed I I Indication Today, Absci announced the addition of ABS-202 to its portfolio of internal pipeline programs. ABS-202 is an anti-PRLR antibody in preclinical development for an undisclosed I I indication.
Other Internal Pipeline and Partnered Programs
Absci continues to advance partnering discussions for other internal programs at various stages of preclinical and clinical development. Absci also continues to advance its ongoing drug creation partnered programs and anticipates signing one or more partnerships, including with a Large Pharma company, in 2026.
Recent Accepted Presentations and Abstracts
Cold Spring Harbor Laboratory - Brain Body Physiology 2026 Re-interpreting Prolactin as a Peripheral Brain-Body Stress Response Amplifier Lessons from the Hair Follicle
Society of Investigative Dermatology (SID) 2026 Novel Strategy to Promote Hair Follicle Growth and Stem Cell Activation in Human Male Scalp Skin Targeting Prolactin Receptor with ABS-201
World Congress for Hair Research (WCHR) 2026 Prolactin Receptor Blockade with ABS-201 Promotes Hair Follicle Growth and Stem Cell Activation in Human Male Scalp Skin
Society of Endometriosis and Uterine Disorders (SEUD) 2026 Prolactin Receptor Blockade With ABS-201 Relieves Pain and Inflammation in a Homologous Transplant Mouse Model of Endometriosis
ICLR 2026 GEM Workshop Origin-1 Experimentally Validated Generative AI Platform for De Novo Antibody Design Against "Zero-Prior" Epitopes
PEGS Boston 2026 Origin-1 An Experimentally Validated Generative AI Platform for De Novo Antibody Design Against Zero-Prior Epitopes
First Quarter 2026 Financial Results
Revenue was $0.2 million for the three months ended March 31, 2026, compared to $1.2 million for the three months ended March 31, 2025.
Research and development expenses were $19.3 million for the three months ended March 31, 2026, compared to $16.4 million for the three months ended March 31, 2025. This increase was primarily driven by advancement of Absci's internal programs, including direct costs associated with external preclinical and clinical development of ABS-201.
Selling, general, and administrative expenses were $9.1 million for the three months ended March 31, 2026, compared to $9.5 million for the three months ended March 31, 2025. This decrease was primarily due to a reduction in personnel-related costs.
Net loss was $29.6 million for the three months ended March 31, 2026, compared to $26.3 million for the three months ended March 31, 2025.
Cash, cash equivalents, and marketable securities as of March 31, 2026 were $125.7 million, compared to $144.3 million as of December 31, 2025.
Based on the company's current projections, Absci believes its cash, cash equivalents, and marketable securities will be sufficient to fund its operating plans into the first half of 2028.
Absci will host a conference call to discuss its first quarter 2026 business updates and financial and operating results on Thursday, May 7, 2026 at 4 30 p.m. Eastern Time 1 30 p.m. Pacific Time. A webcast of the conference call can be accessed at investors.absci.com. The webcast will be archived and available for replay for at least 90 days after the event.
Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding any or all of the following development and clinical progress of Absci's pipeline programs, including ABS-201, the design, enrollment, conduct, and timelines of our ongoing Phase 1 2a HEADLINE trial of ABS-201 for androgenetic alopecia the anticipated timing of an interim proof-of-concept data readout for ABS-201 in the second half of 2026 the potential advancement of ABS-201 into Phase 3 development the anticipated initiation of a Phase 2 clinical trial of ABS-201 for endometriosis in
the fourth quarter of 2026 and a potential proof-of-concept readout in the second half of 2027 the anticipated characteristics and product profile of ABS-201 as a drug product, our target product profile and its attributes, the potential for an expedited development pathway including the possibility of advancing directly from Phase 1 2a into Phase 3, our planned engagement with the FDA regarding development strategy, and potential market opportunity and commercial prospects for ABS-201 projections regarding potential market opportunity based on various assumptions, including potential regulatory approval, the final approved label, and the evolving competitive landscape, any of which could cause our actual addressable market to differ materially from these projections Absci's strategy, goals, anticipated financial performance and the sufficiency of its cash resources and expected benefits of its collaborations with partners. Risks that contribute to the uncertain nature of the forward-looking statements include, without limitation, the risks and uncertainties discussed under the heading "Risk Factors" in Absci Corporation's most recent annual report on Form 10-K and in any other subsequent filings made by Absci Corporation with the U.S. Securities and Exchange Commission. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, other than to the extent required by law.
Corporate Vice President
Head of Investor Relations
Unaudited Condensed Consolidated Statements of Operations
| For the Three Months Ended March 31, | |||||||||||||
| (In thousands, except for share and per share data) | 2026 | 2025 | |||||||||||
| Revenues | |||||||||||||
| Partner program revenue | $ | 215 | $ | 1,179 | |||||||||
| Operating expenses | |||||||||||||
| Research and development | 19,275 | 16,364 | |||||||||||
| Selling, general and administrative | 9,058 | 9,472 | |||||||||||
| Depreciation and amortization | 2,728 | 3,072 | |||||||||||
| Total operating expenses | 31,061 | 28,908 | |||||||||||
| Operating loss | (30,846) | (27,729) | |||||||||||
| Other income (expense) | |||||||||||||
| Interest expense | (18) | (79) | |||||||||||
| Other income, net | 1,283 | 1,458 | |||||||||||
| Total other income, net | 1,265 | 1,379 | |||||||||||
| Loss before income taxes | (29,581) | (26,350) | |||||||||||
| Income tax expense (benefit) | (18) | 4 | |||||||||||
| Net loss | $ | (29,599) | $ | (26,346) | |||||||||
| Net loss per share Basic and diluted | $ | (0.19) | $ | (0.21) | |||||||||
| Weighted-average common shares outstanding Basic and diluted | 152,961,894 | 124,461,439 |
Unaudited Condensed Consolidated Balance Sheets
| March 31, | December 31, | |||||||
| (In thousands, except for share and per share data) | 2026 | 2025 | ||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 8,627 | $ | 20,025 | ||||
| Marketable securities | 117,078 | 124,267 | ||||||
| Prepaid expenses and other current assets | 6,267 | 5,281 | ||||||
| Total current assets | 131,972 | 149,573 | ||||||
| Operating lease right-of-use assets | 2,630 | 2,914 | ||||||
| Property and equipment, net | 18,778 | 20,860 | ||||||
| Intangibles, net | 40,768 | 41,514 | ||||||
| Restricted cash, long-term | 1,062 | 1,053 | ||||||
| Other long-term assets | 383 | 383 | ||||||
| TOTAL ASSETS | $ | 195,593 | $ | 216,297 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities | ||||||||
| Accounts payable and accrued expenses | $ | 17,310 | $ | 19,348 | ||||
| Long-term debt | 413 | 873 | ||||||
| Operating lease obligations | 1,857 | 1,805 | ||||||
| Deferred revenue | 450 | 739 | ||||||
| Total current liabilities | 20,030 | 22,765 | ||||||
| Operating lease obligations, net of current portion | 2,145 | 2,624 | ||||||
| Deferred revenue, long-term | 641 | 436 | ||||||
| Other long-term liabilities | 806 | 1,023 | ||||||
| TOTAL LIABILITIES | 23,622 | 26,848 | ||||||
| STOCKHOLDERS' EQUITY | ||||||||
| Preferred stock | - | - | ||||||
| Common stock | 15 | 15 | ||||||
| Additional paid-in capital | 826,035 | 813,627 | ||||||
| Accumulated deficit | (654,383) | (624,784) | ||||||
| Accumulated other comprehensive income | 304 | 591 | ||||||
| TOTAL STOCKHOLDERS' EQUITY | 171,971 | 189,449 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 195,593 | $ | 216,297 |