Absci (ABSI) Q2 2026 earnings summary

Executive summary

• Positive interim Phase I data for ABS-201 demonstrated favorable safety, tolerability, and an extended half-life supporting two to three injections over six months for pattern hair loss, with development also targeting endometriosis.

• $100 million financing completed in June 2026, including a $40 million strategic investment and partnership with Eli Lilly, extending the cash runway into the second half of 2028.

• AI-driven Atlas platform identified new indications for the prolactin receptor franchise and improved drug discovery efficiency, advancing two programs from AI design to IND in about two years at ~$15 million per program.

• Pipeline includes ABS-202 and multiple early-stage immunology/inflammation programs, with ongoing partnership efforts.

Financial highlights

• Revenue for Q2 2026 was $0.3 million, down from $0.6 million in Q2 2025, due to milestone timing and program mix.

• Research and development expenses were $22.6 million for Q2 2026, up from $20.5 million year-over-year, with six-month R&D expenses at $41.9 million.

• Selling, general, and administrative expenses rose to $9.2 million from $8.5 million year-over-year.

• Net loss for Q2 2026 was $33.2 million, up from $30.6 million in Q2 2025; operating loss was $34.2 million.

• Cash, cash equivalents, and marketable securities totaled $201.1 million as of June 30, 2026, up from $125.7 million at March 31, 2026.

Outlook and guidance

• Cash position expected to fund operations into the second half of 2028.

• Interim proof-of-concept data for ABS-201 in pattern hair loss expected in the second half of 2026, with full 26-week data anticipated in early 2027.

• Phase II trial for ABS-201 in endometriosis planned for Q4 2026, with proof-of-concept data expected in the second half of 2027.

• Additional details on endometriosis clinical development to be shared in Q3 2026.

• Expect continued significant expenses as clinical and preclinical programs advance and platform capabilities expand.