Announced positive interim Phase 1 data from the HEADLINE$(TM)$ trial of ABS-201
Completed $100 million underwritten offering, including $40 million strategic investment from Eli Lilly & Company
Cash, cash equivalents, and marketable securities now sufficient to fund operations into the second half of 2028
VANCOUVER, Wash. and NEW YORK, Aug. 11, 2026 (GLOBE NEWSWIRE) -- 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 June 30, 2026.
"The positive Phase 1 interim data from our HEADLINE trial, combined with our strengthened balance sheet and advancing platform, position us well for what comes next," said Sean McClain, Founder and CEO. "We are fast approaching defining moments for Absci, with interim proof-of-concept data for pattern hair loss later this year and our full 26-week readout in early 2027. These results have the potential to demonstrate ABS-201's regenerative mechanism and change the treatment paradigm for the millions of people living with pattern hair loss. And this is just the beginning for our prolactin receptor franchise within our overall proprietary pipeline, with endometriosis expansion ahead."
Recent Highlights
-- Reported positive interim Phase 1 data from Absci's first-in-human trial
of ABS-201 (anti-PRLR antibody). Blinded, aggregate interim data suggest
study drug was well tolerated and exhibited a favorable safety and
tolerability profile. Based on available interim pharmacokinetic $(PK)$
data across all four single ascending dose (SAD) cohorts, half-life for
ABS-201 is estimated to be at least 65 days. These results support the
potential for dosing two or three times over a six month period, pending
confirmation through continued follow-up across all cohorts.
-- Completed $100 million underwritten offering, including a $40 million
strategic equity investment from Eli Lilly & Company, and participation
from leading financial institutions including Adage, BVF Partners,
Columbia Threadneedle, Invus, Redmile, and a large investment management
firm.
-- Continuing to dose participants with pattern hair loss (PHL) in multiple
ascending dose (MAD) portion of the HEADLINE trial. Absci anticipates
reporting interim proof-of-concept data from this study in the second
half of 2026 and full proof-of-concept data in early 2027.
Prolactin (PRL) Program Portfolio
-- ABS-201 for Pattern Hair Loss: ABS-201, currently undergoing Phase 1/2a
studies, is being developed for pattern hair loss (PHL). Absci believes
that ABS-201, if successfully developed and approved, could provide a
significant new category of PHL treatment that offers the potential for
durable hair growth with a convenient administration profile. In June,
Absci announced positive interim Phase 1 data from the HEADLINE trial,
demonstrating that the study medication appears well tolerated, with
favorable safety data across all blinded single ascending dose (SAD)
cohorts. Additionally, the estimated half-life of at least 65 days
supports the potential for ABS-201's targeted dosing interval of two or
three injections over a six-month period. Absci anticipates reporting
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. With the safety, tolerability, and
PK data generated in the ongoing HEADLINE trial, 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: ABS-202 is an anti-PRLR antibody
in preclinical development for an undisclosed I&I indication.
Other Internal Pipeline Programs and Partnerships
Absci continues to advance its ongoing drug creation partnered programs, as well as partnering discussions for other internal programs at various stages of preclinical and clinical development.
Absci's new partnership with Eli Lilly is tailored around the clinical development strategy for ABS-201, and does not confer any program rights to Eli Lilly. As part of Eli Lilly's $40 million strategic investment in Absci, a representative from Eli Lilly has joined Absci's Endometriosis Advisory Board.
Recent Publications, Presentations, and Abstracts
Peer-Reviewed Publications
-- mAbs 2026: "Efficient inference of non-polyreactive antibody variants
dependent on local fine-tuning"
Accepted Presentations and Abstracts
-- American Academy of Dermatology Innovation Academy (AAD) 2026: "ABS-201,
an AI-designed Antibody, Blocks Prolactin/PRLR Signaling and Presents a
Novel Biologic Strategy for the Treatment of Androgenetic Alopecia"
-- Summer RosettaCon 2026: "Origin-1: A Generative AI Platform for De Novo
Antibody Design Against Novel Epitopes"
-- Third Barcelona Hair Meeting 2026: "ABS-201-Mediated Prolactin Receptor
Inhibition Promotes Hair Growth in Androgen-Sensitive Male Scalp"
-- European Academy of Dermatology and Venereology Congress (EADV) 2026:
"Prolactin Receptor Antagonism by ABS-201 Drives Hair Follicle Growth and
Stem/Progenitor Cell Expansion in Human Male Scalp Skin"
-- American Society for Reproductive Medicine (ASRM) 2026: "Prolactin
Receptor Blockade With Anti-Prolactin Receptor Antibody (Anti-PRLR Ab)
Relieves Pain and Inflammation in a Homologous Transplant Mouse Model of
Endometriosis"
Second Quarter 2026 Financial Results
Revenue was $0.3 million for the three months ended June 30, 2026, compared to $0.6 million for the three months ended June 30, 2025.
Research and development expenses were $22.6 million for the three months ended June 30, 2026, compared to $20.5 million for the three months ended June 30, 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, offset by a decrease in personnel-related costs.
Selling, general, and administrative expenses were $9.2 million for the three months ended June 30, 2026, compared to $8.5 million for the three months ended June 30, 2025. This increase was primarily due to stock-based compensation and other administrative costs.
Net loss was $33.2 million for the three months ended June 30, 2026, compared to $30.6 million for the three months ended June 30, 2025.
Cash, cash equivalents, and marketable securities as of June 30, 2026 were $201.1 million, compared to $125.7 million as of March 31, 2026. The cash, cash equivalents, and marketable securities as of June 30, 2026 reflects $93.6 million of net proceeds from Absci's underwritten offering completed in June 2026.
Based on the company's current projections, Absci now believes its cash, cash equivalents, and marketable securities will be sufficient to fund its operating plans into the second half of 2028.
Webcast Information
Absci will host a conference call to discuss its second quarter 2026 business updates and financial and operating results on Tuesday, August 11, 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.
About Absci
Absci is advancing the future of drug discovery with generative design to create better biologics for patients, faster. Our Integrated Drug Creation(TM) platform combines cutting-edge AI models with a synthetic biology data engine, enabling the rapid design of innovative therapeutics that address challenging therapeutic targets. Absci's approach leverages a continuous feedback loop between advanced AI algorithms and wet lab validation. Each cycle refines our data and strengthens our models, facilitating rapid innovation and enhancing the precision of our therapeutic designs. Alongside collaborations with top pharmaceutical, biotech, tech, and academic leaders, Absci is advancing its own pipeline of AI designed therapeutics including ABS-201(TM), a groundbreaking innovation in hair regrowth with the potential to redefine treatment possibilities for androgenetic alopecia, commonly known as male and female pattern hair-loss. ABS-201 is also being investigated as a potential "best-in-class" therapeutic for endometriosis, a condition with significant unmet medical need and market potential. Absci is headquartered in Vancouver, WA, with AI Research Labs in New York City and Serbia, and an Innovation Center in Switzerland. Learn more at www.absci.com or follow us on LinkedIn (@absci), X (@Abscibio) and YouTube.
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