Absci Shares Jump 24% on Phase 1 Safety Success, Raises $100M
ABSI•Absci shares rose 24% after interim Phase 1 safety data for ABS-201 showed no serious adverse events across 32 participants receiving intravenous doses up to 1,800 mg. It revealed a 65-day half-life and supported progression to multiple-dose cohorts as Absci raised $100 million from a $7.41 per share offering.
1. Phase 1 Safety Results
Absci reported interim Phase 1 safety data for ABS-201 showing no serious adverse events among 32 healthy adults across four single ascending dose cohorts ranging from 150 mg to 1,800 mg. Most treatment-emergent adverse events were mild, with a single moderate headache deemed unlikely related to the therapy.
2. Pharmacokinetics and Dosing Schedule
Pharmacokinetic analysis indicated an estimated half-life of at least 65 days, supporting a potential treatment schedule of only two to three injections over a six-month period. The extended duration could differentiate ABS-201 from existing hair loss treatments.
3. Multiple-Dose Study Initiation
Following positive safety findings, Absci has started enrolling participants diagnosed with androgenetic alopecia in the first multiple ascending dose cohort. This stage aims to assess both safety and preliminary efficacy measures related to hair growth.
4. $100M Capital Raise
Absci completed an underwritten offering of 13.5 million shares at $7.41 each, generating approximately $100 million in gross proceeds. The funds will support ABS-201’s continued clinical development and multiple-dose study activities.
