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 a convenient dosing schedule for pattern hair loss and endometriosis.

• Announced a $40 million strategic investment and clinical development partnership with Eli Lilly, and completed a $100 million financing round to support ongoing and future programs, extending cash runway into the second half of 2028.

• Advanced the AI-driven Atlas platform, enabling rapid identification and validation of new therapeutic targets and indications.

• Advanced two programs from AI design to IND in about 2 years at ~$15M per program, significantly faster and cheaper than industry averages.

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

Financial highlights

• Revenue for Q2 2026 was $0.3 million, down from $0.6 million year-over-year, 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, mainly due to increased clinical development costs.

• 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; net loss per share was $0.21.

• Cash, cash equivalents, and marketable securities totaled $201.1 million as of June 30, 2026, up from $125.7 million at March 31, 2026, following a $93.6 million net proceeds stock offering.

Outlook and guidance

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

• Phase II trial for ABS-201 in endometriosis planned to initiate in Q4 2026, with proof-of-concept readout anticipated in the second half of 2027.

• Cash runway projected to fund operations into the second half of 2028.

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