Absci Q2 revenue falls and misses analyst expectations
ABSI•Funding and trial updates
The company said higher research and development expenses were driven by advancement of internal programs, including clinical development of ABS-201.
Absci also reported favorable safety and tolerability in interim Phase 1 data for ABS-201, supporting potential for convenient dosing.
The company completed a $100 million offering, including a $40 million strategic investment from Eli Lilly, extending funding into the second half of 2028.
Analyst coverage and price target
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the biotechnology & medical research peer group is "buy".
Wall Street's median 12-month price target for Absci Corp is $14.00, about 55.4% above its August 10 closing price of $9.01.
Q2 revenue misses estimates as loss widens
Absci said second-quarter revenue fell and missed analyst expectations, while its net loss widened as research and development expenses rose due to advancing internal programs.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Miss | $318,000 | $1.17 mln (7 Analysts) |
| Q2 Net Loss | $33.21 mln | ||
| Q2 Loss Per Basic Share | $0.21 | ||
| Q2 Operating Expenses | $34.48 mln | ||
| Q2 Operating Income |
