Shares of Absci Corporation (NASDAQ: ABSI) tumbled 16.77% in after-hours trading on Wednesday following the release of its third-quarter 2025 financial results, which fell short of analysts' expectations.
The biotech company, which specializes in AI-powered drug discovery, reported revenue of $378,000 for the quarter ended September 30, 2025, significantly missing the analyst consensus estimate of $1.52 million. This represents a steep 77.78% decrease from the $1.7 million reported in the same period last year. The company's net loss widened to $28.7 million, or $0.20 per share, compared to $27.4 million, or $0.24 per share, in the prior year period.
Despite the revenue miss, Absci's loss per share of $0.20 narrowly beat the analyst estimate of $0.21. However, this slight beat was not enough to offset investor concerns about the company's declining revenue and expanding losses. The company's operating expenses increased to $30.5 million, up from $27.3 million in the same quarter last year, primarily due to higher research and development costs associated with the advancement of internal programs. Absci ended the quarter with $152.5 million in cash, cash equivalents, and marketable securities, providing a runway for continued operations and research initiatives.
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