Loading...
•
Dec 31, 2024
Absci Q4 2024 Earnings Report
Absci reported fourth-quarter results with increased revenue and higher research and development spending, leading to a larger net loss compared to the prior year.
Key Takeaways
Absci generated $0.7 million in revenue during Q4 2024, up from $0.3 million the previous year. Increased investments in R&D and continued operational activities led to a net loss of $29.0 million, as the company advances its pipeline and AI-driven drug creation platform.
Revenue rose to $0.7 million in Q4 2024, more than doubling from Q4 2023.
R&D expenses increased to $18.4 million due to advancing internal programs.
Net loss widened to $29.0 million compared to $23.5 million in Q4 2023.
Cash and short-term investments stood at $112.4 million, funding operations into the first half of 2027.
Forward Guidance
Absci expects to advance key programs into clinical development in 2025 and continue signing additional drug creation partnerships.
Positive Outlook
- ABS-101 expected to initiate Phase 1 studies in the first half of 2025.
- ABS-201 Phase 1 trial anticipated in early 2026 targeting androgenic alopecia.
- Strong strategic collaboration with AMD including a $20 million investment.
- Continued expansion of drug creation partnerships with biotech and pharma companies.
- Cash position sufficient to fund operations into the first half of 2027.
Challenges Ahead
- Increasing research and development expenses impacting profitability.
- Higher stock compensation costs adding to SG&A expenses.
- Potential delays in clinical milestones for ABS-101 and ABS-201.
- Market volatility could affect equity investments and funding strategies.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...