Absci Corp (ABSI) Q3 2024 Earnings Call Highlights: Strategic Partnerships and Financial Challenges

GuruFocus.com11-13

Revenue: $1.7 million for Q3 2024. Research and Development Expenses: $18 million for Q3 2024, up from $11 million in the prior year period. Selling, General, and Administrative Expenses: $9.3 million...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2483502334?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-13 15:07","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2483502334","market":"us","top_or_hot":-1,"title":"Absci Corp (ABSI) Q3 2024 Earnings Call Highlights: Strategic Partnerships and Financial Challenges","media":"GuruFocus.com","content":"<div>\n<p>Revenue: $1.7 million for Q3 2024.\nResearch and Development Expenses: $18 million for Q3 2024, up from $11 million in the prior year period.\nSelling, General, and Administrative Expenses: $9.3 million...</p>\n\n<a href=\"https://finance.yahoo.com/news/absci-corp-absi-q3-2024-070738343.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Absci Corp (ABSI) Q3 2024 Earnings Call Highlights: Strategic Partnerships and Financial Challenges</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAbsci Corp (ABSI) Q3 2024 Earnings Call Highlights: Strategic Partnerships and Financial Challenges\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-13 15:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/absci-corp-absi-q3-2024-070738343.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Revenue: $1.7 million for Q3 2024.\nResearch and Development Expenses: $18 million for Q3 2024, up from $11 million in the prior year period.\nSelling, General, and Administrative Expenses: $9.3 million...</p>\n\n<a href=\"https://finance.yahoo.com/news/absci-corp-absi-q3-2024-070738343.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ABSI","symbol_name":"Absci Corporation.","start_time":0,"source_url":"https://finance.yahoo.com/news/absci-corp-absi-q3-2024-070738343.html","article_id":"2483502334","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483502334","pubTimestamp":1731481658,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Research and Development Expenses: $18 million for Q3 2024, up from $11 million in the prior year period.Selling, General, and Administrative Expenses: $9.3 million for Q3 2024, down from $9.5 million in the prior year period.Cash, Cash Equivalents, and Short-term Investments: $127.1 million as of September 30, 2024, compared to $145.2 million as of June 30, 2024.Expected Gross Use of Cash for 2024: Approximately $75 million, revised down from $80 million.GuruFocus has detected 3 Warning Signs with ABSI.For the complete transcript of the earnings call, please refer to the full earnings call transcript.Absci Corp  achieved a significant milestone in its collaboration with AstraZeneca by delivering AI-designed antibody sequences within six months.Absci Corp  ended the quarter with $127.1 million in cash, cash equivalents, and short-term investments, providing a strong financial position to fund operations into the first half of 2027.Q: What can we expect data-wise from your R&D day and u","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"ABSI":"Absci Corporation."},"translate_title":"Absci Corp(ABSI)2024年第三季度收益看涨期权亮点：战略合作伙伴关系和财务挑战","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ABSI":1},"content_text":"Revenue: $1.7 million for Q3 2024.\nResearch and Development Expenses: $18 million for Q3 2024, up from $11 million in the prior year period.\nSelling, General, and Administrative Expenses: $9.3 million for Q3 2024, down from $9.5 million in the prior year period.\nCash, Cash Equivalents, and Short-term Investments: $127.1 million as of September 30, 2024, compared to $145.2 million as of June 30, 2024.\nExpected Gross Use of Cash for 2024: Approximately $75 million, revised down from $80 million.\n\n\nWarning! GuruFocus has detected 3 Warning Signs with ABSI.\n\nRelease Date: November 12, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nAbsci Corp (NASDAQ:ABSI) achieved a significant milestone in its collaboration with AstraZeneca by delivering AI-designed antibody sequences within six months.\nThe company announced a new partnership with Twist Bioscience to design a novel antibody using generative AI, expanding its collaborative network.\nAbsci Corp (NASDAQ:ABSI) plans to initiate Phase 1 clinical studies of its ABS-101 program in the first half of 2025, with an interim data readout expected in the second half of 2025.\nThe company has a robust pipeline of proprietary programs, including ABS-101, ABS-201, and ABS-301, all generated using its integrated drug creation platform.\nAbsci Corp (NASDAQ:ABSI) ended the quarter with $127.1 million in cash, cash equivalents, and short-term investments, providing a strong financial position to fund operations into the first half of 2027.\n\n Negative Points \n\nRevenue for the third quarter of 2024 was only $1.7 million, indicating limited income from partner programs.\nResearch and development expenses increased significantly to $18 million, up from $11 million in the prior year period, driven by increased lab operations and stock compensation expenses.\nThere was a slight delay in the ABS-301 program due to issues at the contract research organization (CRO), affecting the timeline for data readouts.\nThe company experienced a decrease in cash, cash equivalents, and short-term investments from $145.2 million as of June 30, 2024, to $127.1 million by the end of the quarter.\nAbsci Corp (NASDAQ:ABSI) continues to rely heavily on partnerships for revenue, which may pose a risk if new partnerships are not secured as anticipated.\n\n Q & A Highlights \nQ: Can you remind us of the economics of the AstraZeneca partnership and when we can expect further updates? Does this validate Absci's platform potential? A: Sean McClain, CEO: The partnership is a great validation of our platform, delivering a binder in six months. Zach Jonasson, CFO: The deal is valued at $247 million, including upfront fees, milestones, and undisclosed royalties. It's a traditional drug creation partnership structure.\nQ: What can we expect data-wise from your R&D day and updates in the first half of 2025? A: Sean McClain, CEO: At R&D day, we'll present a robust pre-clinical data package for ABS-201, similar to ABS-101. In the first half of 2025, we plan to present efficacy data on ABS-301.\nQ: Are you using the same manufacturers for ABS-201 as for ABS-101, and should we expect similar R&D expenses? A: Sean McClain, CEO: Yes, we're using the same manufacturer, WuXi, for ABS-201, and expenses should be similar to those for ABS-101.\nQ: Can you provide more details about the upcoming partnerships expected this year? A: Zach Jonasson, CFO: We are advancing discussions with a mix of companies of different sizes, but that's all we can disclose at this point.\nQ: What are your expectations for the healthy volunteer study for ABS-101 next year in terms of antibody half-life? A: Christian Stegmann, SVP of Drug Creation: We aim to measure pharmacokinetics and expect a half-life profile similar to half-life engineered antibodies, allowing for once-monthly or potentially once-quarterly dosing.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483502334"}