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1. Company Snapshot

1.a. Company Description

Absci Corporation, a drug and target discovery company, provides biologic drug candidates and production cell lines using integrated drug creation platform for partners in the United States.Its integrated drug creation platform enables the creation of biologics by unifying the drug discovery and cell line development processes into one process.Absci Corporation was founded in 2011 and is headquartered in Vancouver, Washington.

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1.b. Last Insights on ABSI

Absci Corporation's recent performance has been driven by several positive developments. The company initiated dosing of participants in the first-in-human study of ABS-101, an anti-TL1A antibody for the treatment of inflammatory bowel disease, with interim data expected in the second half of 2025. Additionally, non-human primate data for ABS-201 demonstrated extended half-life and high subcutaneous bioavailability, paving the way for Phase 1 initiation in early 2026. Absci also reported that its cash, cash equivalents, and short-term investments are sufficient to fund operations into the first half of 2027. Furthermore, the company has strengthened its leadership team with the appointment of biopharma executive Mary Szela to its Board of Directors and announced participation in upcoming investor conferences to showcase its pipeline and growth prospects.

1.c. Company Highlights

2. Absci Corporation's Q3 2025 Earnings: A Deeper Dive into Financials and Pipeline Progress

Absci Corporation reported revenue of $400,000 for Q3 2025, with research and development expenses at $19.2 million and selling, general, and administrative expenses at $8.4 million. The company's EPS came in at -$0.2, slightly missing estimates of -$0.19. The cash, cash equivalents, and marketable securities stood at $152.5 million as of September 30, 2025, expected to fund operations into 2028. Analysts estimate a significant revenue growth of 463.0% for the next year, indicating a potential surge in the company's financial performance.

Publication Date: Nov -25

📋 Highlights
  • ABS-101 Phase One Results:: Demonstrated extended half-life and favorable safety profile, though no PK impact, with trial completion targeted by 2026.
  • ABS-201 Development Momentum:: Accelerating trials for androgenetic alopecia (AGA) and endometriosis, with AGA phase 1/2a starting in December 2025 and endometriosis phase two in Q4 2026.
  • Financial Position:: $152.5M in cash reserves as of Q3 2025, projected to fund operations through 2028, despite $27.6M total operating expenses.
  • Partnership Strategy:: Aiming to secure at least one major pharma collaboration by year-end, leveraging ABS-201’s potential in $10B+ AGA and endometriosis markets.
  • Endometriosis Trial Design:: Capitalizing on AGA trial safety data for cost efficiency, targeting 10% of global women (approx. 300M) affected by endometriosis with a sex-hormone-independent therapy.

Financial Performance and Valuation

The company's financials indicate a significant investment in research and development, with expenses accounting for a substantial portion of the overall costs. The current valuation metrics show a P/E Ratio of -3.33, P/B Ratio of 2.18, and P/S Ratio of 107.56, indicating a potentially high valuation relative to sales. The EV/EBITDA ratio stands at -4.14, suggesting that the company's enterprise value is not justified by its current earnings before interest, taxes, depreciation, and amortization.

Pipeline Progress and Key Developments

Absci Corporation made significant progress in its pipeline, with ABS-201 moving into the clinic. The company is accelerating the development of ABS-201 in androgenetic alopecia (AGA) and expanding its development in endometriosis. A phase 1/2a trial for AGA is set to initiate in December, with an interim proof of concept readout anticipated in 2026. The company also plans to initiate a phase two proof of concept clinical trial for endometriosis in 2026, leveraging the safety data from the AGA trial in a capital-efficient development plan.

ABS-201 Mechanism and Potential

The company's preclinical data supports the mechanism of ABS-201, which is designed to antagonize the prolactin receptor. The treatment has shown potential in treating both AGA and endometriosis, with the potential to be a safe and effective therapy for the estimated 10% of women globally who suffer from endometriosis. The company believes that the prolactin receptor antibody should work in every endometriosis patient, as there is increased prolactin receptor and prolactin expression in endometriosis lesions and sensory neurons.

Partnerships and Future Plans

The company plans to sign one or more drug creation partnerships, including with a large pharma company, by the end of the year. With its current balance sheet, Absci believes it is well-positioned to execute on its strategy and deliver potential proof of concept readouts for ABS-201 in both AGA and endometriosis. The company's focus remains on driving the program through phase 1/2a for AGA and phase 2 for endometriosis, with a potential expansion into additional indications in the future.

3. NewsRoom

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Absci Announces First Participants Dosed in Phase 1/2a HEADLINE™ Trial of AI-Designed Antibody ABS-201™ for Androgenetic Alopecia

Dec -04

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10 AI Stocks Worth Buying Right Now

Dec -04

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Miss These Genesis Mission Stocks, and You’ll Regret It for a Decade

Dec -01

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Absci Corporation (ABSI) Presents at Jefferies London Healthcare Conference 2025 Transcript

Nov -22

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Absci Corporation (ABSI) Q3 2025 Earnings Call Transcript

Nov -13

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Absci Corporation (ABSI) Reports Q3 Loss, Lags Revenue Estimates

Nov -12

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Absci Reports Business Updates and Third Quarter 2025 Financial and Operating Results

Nov -12

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Absci to Report Business Updates and Third Quarter 2025 Financial and Operating Results on November 12, 2025

Oct -29

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.55%)

6. Segments

Biologics

Expected Growth: 10.55%

Absci Corporation's biologics segment growth of 10.55% is driven by increasing demand for novel therapeutic proteins, advancements in antibody engineering, and strategic partnerships. Additionally, the company's proprietary Bionic Protein platform enables rapid discovery and development of novel biologics, further fueling growth.

7. Detailed Products

SoluCode

A novel, AI-driven protein design platform that enables the rapid design and optimization of therapeutic proteins

Bionic Protein

A proprietary protein design and optimization technology that leverages AI and machine learning to create novel protein therapeutics

Integrated Drug Discovery

A comprehensive platform that integrates AI-driven protein design, high-throughput screening, and machine learning-based lead optimization

Protein Engineering

A suite of technologies and services for the design, optimization, and production of novel therapeutic proteins

Antibody Discovery

A platform for the rapid discovery and optimization of therapeutic antibodies

8. Absci Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

Absci Corporation's threat of substitutes is moderate due to the availability of alternative biotech companies that can provide similar services.

Bargaining Power Of Customers

Absci Corporation's customers have limited bargaining power due to the company's unique technology and expertise in AI-driven biotech.

Bargaining Power Of Suppliers

Absci Corporation's suppliers have moderate bargaining power due to the availability of alternative suppliers, but the company's strong relationships with its suppliers mitigate this risk.

Threat Of New Entrants

The threat of new entrants is high in the biotech industry, as new companies can easily enter the market with innovative technologies and disrupt the existing landscape.

Intensity Of Rivalry

The intensity of rivalry in the biotech industry is high, with many established companies competing for market share and innovative breakthroughs.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 5.49%
Debt Cost 6.32%
Equity Weight 94.51%
Equity Cost 16.03%
WACC 15.49%
Leverage 5.81%

11. Quality Control: Absci Corporation passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Nektar

A-Score: 4.5/10

Value: 8.0

Growth: 4.2

Quality: 4.8

Yield: 0.0

Momentum: 10.0

Volatility: 0.0

1-Year Total Return ->

Stock-Card
Werewolf Therapeutics

A-Score: 3.9/10

Value: 7.4

Growth: 4.4

Quality: 5.8

Yield: 0.0

Momentum: 5.0

Volatility: 0.7

1-Year Total Return ->

Stock-Card
HOOKIPA Pharma

A-Score: 3.6/10

Value: 9.2

Growth: 5.8

Quality: 4.8

Yield: 0.0

Momentum: 0.0

Volatility: 1.7

1-Year Total Return ->

Stock-Card
Absci

A-Score: 2.8/10

Value: 6.6

Growth: 2.7

Quality: 3.8

Yield: 0.0

Momentum: 2.5

Volatility: 1.0

1-Year Total Return ->

Stock-Card
Palisade Bio

A-Score: 2.7/10

Value: 6.4

Growth: 5.7

Quality: 3.5

Yield: 0.0

Momentum: 0.5

Volatility: 0.0

1-Year Total Return ->

Stock-Card
Xencor

A-Score: 2.5/10

Value: 7.2

Growth: 1.1

Quality: 4.4

Yield: 0.0

Momentum: 0.0

Volatility: 2.3

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

3.68$

Current Price

3.68$

Potential

-0.00%

Expected Cash-Flows