Shares of drug developer Absci ABSI.O fall 1.4% to $9.3.
Co posts Q2 revenue of $318,000, sharply below analysts' estimates of $1.2 mln.
Reports increase in R&D expenses of $22.6 mln compared to $20.5 mln last year, primarily driven by advancement of Absci's internal programs.
Brokerage TD Cowen says revenue is expected to nearly halve due to lower collaboration and milestone payments, underscoring its reliance on partner-funded revenue.
Says investors are pivoting attention to its ABS-201 hair-loss data expected later this year - TD Cowen.
Nine of 10 brokerages rate the stock "buy" or higher and one "hold"; median PT is $14 - LSEG data.
Including the session's move, stock has more than doubled in value YTD.
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