Welcome to our dedicated page for Absci Corporation news (Ticker: ABSI), a resource for investors and traders seeking the latest updates and insights on Absci Corporation stock.
Absci Corporation (Nasdaq: ABSI) is a leading company that leverages the power of artificial intelligence to drive the next generation of drug discovery and development. Based in Vancouver, WA, Absci combines advanced AI technology with scalable wet lab processes, aiming to revolutionize the speed and efficacy of creating novel biologics.
Absci's core business revolves around its Integrated Drug Creation™ platform, which offers a unified approach to biologic drug discovery and cell line development. By optimizing multiple drug characteristics simultaneously, this platform accelerates the timeline from concept to clinic while increasing the probability of success in therapeutic development. The company is uniquely positioned to screen billions of cells per week, enabling rapid transformation from AI-designed antibodies to wet lab-validated candidates in as little as six weeks.
Recent achievements include the presentation of positive preclinical data for ABS-101, a potential best-in-class anti-TL1A antibody program. The company has initiated IND-enabling studies and plans to submit an Investigational New Drug application in the first quarter of 2025. Additionally, Absci has forged strategic partnerships, such as a high-profile collaboration with AstraZeneca aimed at advancing an AI-designed oncology candidate, potentially valued at up to $247 million.
Financially, Absci has strengthened its balance sheet through successful public offerings, raising approximately $86 million in gross proceeds. This financial boost ensures the company has the resources needed to advance its internal programs and continue investment in its groundbreaking platform.
Absci's innovative approach and commitment to leveraging AI for drug discovery have not only enhanced its internal pipeline but also attracted significant industry partnerships. The company’s vision of delivering breakthrough therapeutics at the click of a button continues to drive its mission forward, promising better and faster solutions for patients worldwide.
Absci Corporation (Nasdaq: ABSI) recently announced its participation in the KeyBanc Capital Markets Life Sciences & MedTech Investor Forum scheduled for March 21, 2023, at 3:00 p.m. Eastern Time. This virtual event will feature a fireside chat with Absci management, providing insights into the company's innovative generative AI drug creation technologies.
Absci leverages AI alongside advanced wet lab methods to accelerate drug development, enhancing the probability of success by optimizing various drug characteristics. Interested parties can stream the event live via the company's investor relations website.
Absci Corporation (Nasdaq: ABSI) has expanded into the European pharmaceutical market by launching its Innovation Center in Zug, Switzerland. This strategic move aims to enhance its R&D portfolio and drug development pipeline. The company has appointed two senior executives, Christine Lemke and Christian Stegmann, to spearhead its initiatives. Lemke brings extensive experience from major global biopharmaceutical companies, while Stegmann has a strong background in R&D leadership. The Zug Innovation Center positions Absci to leverage European biotech resources and talent, underscoring its commitment to delivering innovative therapies using generative AI.
Absci Corporation (Nasdaq: ABSI), a leader in generative AI drug creation, announced their participation in the 43rd Annual Cowen Health Care Conference. The management team will engage in a panel discussion on March 6 at 1:40 PM PT and a fireside chat on March 8 at 9:50 AM PT. Both sessions will be accessible via a live and archived webcast on the company’s investor relations website. Absci utilizes its Integrated Drug Creation™ platform to enhance drug development, allowing rapid transitions from AI-designed antibodies to lab-validated candidates within weeks. The company aims to revolutionize the delivery of therapeutics globally.
Absci Corporation (Nasdaq: ABSI) has partnered with St. John’s Cancer Institute (SJCI) to accelerate cancer therapy development.
This collaboration utilizes Absci’s Integrated Drug Creation platform and SJCI’s extensive cancer biospecimen database to streamline the identification of new therapeutic candidates.
The initial focus will be on urological and gastrointestinal cancers, aiming to significantly reduce the typical decade-long drug development timeline and high costs.
Experts from both organizations express optimism that this partnership will enhance the discovery of effective cancer treatments.
Absci Corporation (Nasdaq: ABSI) has expanded its Scientific Advisory Board by adding three prominent experts: Dr. Victor Greiff, Dr. Timothy Lu, and Dr. Hubert Truebel, aiming to enhance its leadership in biologic drug creation. Dr. Greiff specializes in in silico antibody design, Dr. Lu focuses on synthetic biology, and Dr. Truebel brings extensive experience in translational medicine. This strategic move aligns with Absci's mission to leverage generative AI and wet lab technologies to expedite drug development. The company intends to innovate faster and improve therapeutic success rates through this strengthened team.
Absci Corporation (Nasdaq: ABSI) announced a significant breakthrough in biotech by using zero-shot generative AI to create and validate de novo antibodies in silico. This advancement could reduce the time for drug leads to enter clinical trials from six years to just 18-24 months while increasing their success probability. Traditionally, drug discovery is costly and lengthy, taking over a decade and more than $1 billion. Absci's innovative approach may unlock treatments for undruggable diseases and enhance biologic drug discovery efficiency.
Absci Corporation (Nasdaq: ABSI) announced its participation in the 41st Annual J.P. Morgan Healthcare Conference in San Francisco on January 12th at 8:15 a.m. PT. The event can be accessed via a live and archived webcast on the company's investor relations website.
Absci is focused on generative AI drug discovery, utilizing deep learning and synthetic biology to create innovative biotherapeutics. Their Integrated Drug Creation™ platform enables the identification of new drug targets and the development of protein-based drugs.
Absci Corporation (Nasdaq: ABSI) announced its participation in the Berenberg Discover AI Seminar on November 29, 2022, at 10:00 a.m. Eastern Time, in New York. The company, a pioneer in generative AI drug creation, will engage in a fireside chat during the event. Absci focuses on drug and target discovery using deep learning AI and synthetic biology to produce innovative protein-based therapeutics. Their Integrated Drug Creation™ platform streamlines the process from identifying drug targets to generating manufacturing cell lines.
Absci Corporation (Nasdaq: ABSI), a leader in generative AI drug creation, announced its participation in the Piper Sandler Healthcare Conference on December 1, 2022, at 8:30 a.m. ET. The presentation will be accessible via a live and archived webcast on the company's investor relations website. Absci utilizes its Integrated Drug Creation™ platform, which combines deep learning AI and synthetic biology, to enhance protein therapeutic development. The company strives to advance medicine through innovative drug discovery.
Absci Corporation (Nasdaq: ABSI) reported strong third-quarter results, showcasing progress in drug discovery through its Merck collaboration. Total revenue reached $2.4 million, up from $1.5 million in Q3 2021, driven by milestones in its non-standard amino acid (nsAA) technology. Operating expenses increased to $27.6 million, including $2.7 million in severance costs. Cash reserves decreased to $181.3 million. The company expects a total cash decrease of approximately $105 million for 2022, refining their prior estimate. Absci continues to prioritize strategic initiatives, projecting sufficient cash into late 2025.
FAQ
What is the current stock price of Absci Corporation (ABSI)?
What is the market cap of Absci Corporation (ABSI)?
What does Absci Corporation specialize in?
What is Absci's Integrated Drug Creation™ platform?
What are some of Absci's recent achievements?
How has Absci strengthened its financial position?
What is the significance of Absci's collaboration with AstraZeneca?
Where are Absci's main operational facilities located?
What is the timeline for ABS-101's clinical trials?
How does Absci's AI technology contribute to drug discovery?
What are some of the internal programs Absci is focusing on?
How can interested parties stay updated on Absci's developments?
