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) announced its participation in the Stifel Healthcare Conference in New York on November 16, 2022, at 4:10 p.m. ET. The company, known for leveraging generative AI and biological data in therapeutic design, will host a fireside chat, accessible via their investor relations website. Absci focuses on drug discovery and the development of protein-based therapeutics using its Integrated Drug Creation™ platform, aiming to enhance the creation of innovative drugs such as Bionic™ proteins.
Absci Corporation (Nasdaq: ABSI) has appointed Dan Rabinovitsj, a technology veteran and Meta Connectivity VP, to its Board of Directors. With over 30 years of experience in technology scaling and business model innovation, Rabinovitsj aims to enhance Absci’s generative AI-driven drug creation capabilities. His addition follows Dr. Andreas Busch's transition to Chief Innovation Officer. Rabinovitsj’s background includes key roles in major tech firms, which the CEO believes will be invaluable as Absci seeks to create biologics more efficiently.
Absci Corporation (Nasdaq: ABSI) announced participation in the Credit Suisse Annual Healthcare Conference to be held in Rancho Palos Verdes, CA, on November 10, at 9:10 a.m. PT. The event will feature a fireside chat with Absci management, which can be accessed via a live and archived webcast on their investor relations website. Absci focuses on protein drug creation, utilizing generative AI and biological data to advance therapeutic development.
Absci Corporation (Nasdaq: ABSI) has appointed Dr. Andreas Busch as Chief Innovation Officer, transitioning from the Board of Directors to the executive team. With extensive experience in R&D at major pharma companies, Dr. Busch has facilitated the development of over 10 FDA-approved drugs. His role will involve leading R&D and technical operations, enhancing Absci's drug creation capabilities through generative AI and high-throughput data technologies. The company aims to revolutionize drug discovery and improve access to effective therapeutics for patients.
Absci Corporation (Nasdaq: ABSI) announced its participation in the Morgan Stanley Annual Healthcare Conference in New York on September 14, 2022. The company will engage in a fireside chat scheduled for 4:05 PM ET. Interested parties can access a live and archived webcast via the company’s investor relations website. Absci focuses on drug and target discovery using deep learning AI and synthetic biology, aiming to enhance protein therapeutic potentials.
Absci Corporation (Nasdaq: ABSI) announced its participation in the Inaugural Gilmartin Group Emerging Growth Company Showcase, scheduled for August 31, 2022. The company will present in a fireside chat at 7:00 a.m. PT (10:00 a.m. ET). Interested parties can access the live and archived webcast on its investor relations website. Absci specializes in drug and target discovery using deep learning AI and synthetic biology, aiming to expand therapeutic proteins' potential through its Integrated Drug Creation™ Platform.
Absci Corporation (Nasdaq: ABSI) reported a strong performance in Q2 2022, signing ten Active Programs, exceeding its annual guidance of eight. Cash and equivalents stood at $206 million, down from $252.6 million at 2021's end. R&D expenses rose to $16.2 million, while SG&A expenses increased to $10.5 million. The net loss reduced to $28.7 million from $41.2 million year-over-year. A strategic reorganization aims to extend the cash runway into late 2025, focusing on AI-driven drug discovery. The company is projecting a net decrease in cash of approximately $110 million for 2022.
Absci Corporation (Nasdaq: ABSI) is set to participate in the UBS Genomics 2.0 and MedTech Innovations Summit Conference on August 9, 2022, at 3:00 p.m. PT. The event will feature a fireside chat with company management, accessible via a live and archived webcast on their investor relations website.
Absci is focused on drug and target discovery, leveraging deep learning AI and synthetic biology to enhance protein therapeutic potential. Their Integrated Drug Creation™ Platform enables efficient identification and development of novel biotherapeutics.
Absci Corporation (Nasdaq: ABSI) will participate virtually in the SVB Securities CybeRx event focusing on Big Data, A.I., and Machine Learning in Healthcare. The company is scheduled for the Drug R&D and Development panel on July 27, 2022, at 6:00 a.m. PT (9:00 a.m. ET). Absci is known for its innovative Integrated Drug Creation™ Platform, which leverages deep learning AI and synthetic biology to enhance protein therapeutic potential. The company aims to revolutionize drug discovery and development by creating next-generation protein-based drugs.
Absci Corporation (Nasdaq: ABSI) announced the hiring of two senior executives: Denise Dettore as Chief People Officer and Jack Gold as Chief Marketing Officer. Dettore brings 26 years of HR experience, including leadership roles in biotech and high-tech industries, while Gold has extensive marketing expertise from previous roles at Zymergen and Nike. Both leaders are expected to enhance Absci's growth and organizational culture as the company focuses on leveraging AI in drug discovery and advancing its brand.
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