Absci Corporation

(RTTNews) - Absci Corporation (ABSI), a clinical-stage biopharma company leveraging generative AI for drug discovery, has priced an underwritten public offering of 16.67 million shares of its common stock at $3.00 per share.
The offering is expected to generate approximately $50 million in gross proceeds, excluding any additional funds from the underwriters' 30-day option to purchase up to 2.5 million more shares on the same terms.
All shares in the offering will be sold by Absci. Net proceeds will support the company's internal pipeline, further development of its Integrated Drug Creation platform, and general corporate purposes.
The offering is expected to close around July 25, 2025, pending customary conditions.
ABSI currently trades at $2.855 or 18.6610% lower on the NasdaqGS.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Absci Prices $50 Mln Public Offering To Advance AI-Driven Drug Programs

The NASDAQ 100 Pre-Market Indicator is up 59.22 to 21,778.91. The total Pre-Market volume is currently 92,106,366 shares traded.
The following are the most active stocks for the pre-market session:
Direxion Daily TSLA Bull 2X Shares (TSLL) is +0.42 at $12.79, with 13,272,705 shares traded. This represents a 103.34% increase from its 52 Week Low.
Circle Internet Group, Inc. (CRCL) is +28.06 at $227.65, with 7,061,159 shares traded., following a 52-week high recorded in prior regular session.
ProShares UltraPro Short QQQ (SQQQ) is -0.1098 at $22.39, with 4,739,188 shares traded. This represents a 4.04% increase from its 52 Week Low.
ProShares UltraPro QQQ (TQQQ) is +0.43 at $73.89, with 3,986,057 shares traded. This represents a 111.11% increase from its 52 Week Low.
Absci Corporation (ABSI) is +0.21 at $2.96, with 3,374,098 shares traded. As reported in the last short interest update the days to cover for ABSI is 10.151617; this calculation is based on the average trading volume of the stock.
GraniteShares 2x Long COIN Daily ETF (CONL) is +2.66 at $36.22, with 3,041,256 shares traded. This represents a 293.27% increase from its 52 Week Low.
NVIDIA Corporation (NVDA) is -0.19 at $145.29, with 3,001,495 shares traded. Over the last four weeks they have had 7 up revisions for the earnings forecast, for the fiscal quarter ending Jul 2025. The consensus EPS forecast is $0.94. As reported by Zacks, the current mean recommendation for NVDA is in the "buy range".
Oscar Health, Inc. (OSCR) is +2.76 at $21.53, with 2,107,429 shares traded. OSCR's current last sale is 134.56% of the target price of $16.
Danaher Corporation (DHR) is +0.56 at $195.00, with 1,716,709 shares traded. As reported by Zacks, the current mean recommendation for DHR is in the "buy range".
BigBear.ai, Inc. (BBAI) is +0.0512 at $4.01, with 1,445,122 shares traded. BBAI's current last sale is 80.22% of the target price of $5.
Amphenol Corporation (APH) is unchanged at $93.65, with 1,343,240 shares traded. As reported by Zacks, the current mean recommendation for APH is in the "buy range".
D-Wave Quantum Inc. (QBTS) is +0.2024 at $15.91, with 749,178 shares traded. As reported by Zacks, the current mean recommendation for QBTS is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pre-Market Most Active for Jun 20, 2025 : TSLL, CRCL, SQQQ, TQQQ, ABSI, CONL, NVDA, OSCR, DHR, BBAI, APH, QBTS

The NASDAQ 100 Pre-Market Indicator is down -23.48 to 21,149.56. The total Pre-Market volume is currently 231,100,089 shares traded.
The following are the most active stocks for the pre-market session:
Currenc Group Inc. (CURR) is +1.78 at $3.17, with 36,877,026 shares traded.
Absci Corporation (ABSI) is +1.475 at $4.55, with 26,251,838 shares traded. As reported by Zacks, the current mean recommendation for ABSI is in the "buy range".
Sana Biotechnology, Inc. (SANA) is +4.08 at $5.73, with 18,291,768 shares traded. As reported in the last short interest update the days to cover for SANA is 18.636779; this calculation is based on the average trading volume of the stock.
fuboTV Inc. (FUBO) is -0.5788 at $4.88, with 15,327,745 shares traded., following a 52-week high recorded in prior regular session.
Arcadium Lithium plc (ALTM) is +0.43 at $5.70, with 13,131,695 shares traded. ALTM's current last sale is 97.44% of the target price of $5.85.
NVIDIA Corporation (NVDA) is +1.65 at $141.79, with 7,656,828 shares traded. As reported by Zacks, the current mean recommendation for NVDA is in the "buy range".
D-Wave Quantum Inc. (QBTS) is -2.59 at $6.96, with 6,785,060 shares traded. As reported by Zacks, the current mean recommendation for QBTS is in the "buy range".
Direxion Daily TSLA Bull 2X Shares (TSLL) is -0.4 at $25.54, with 6,338,213 shares traded. This represents a 417% increase from its 52 Week Low.
Quantum-Si Incorporated (QSI) is -0.4361 at $3.06, with 4,365,175 shares traded. QSI's current last sale is 94.12% of the target price of $3.25.
IonQ, Inc. (IONQ) is -9.09 at $40.50, with 4,063,112 shares traded. IONQ's current last sale is 184.09% of the target price of $22.
NIO Inc. (NIO) is -0.1401 at $4.37, with 3,231,685 shares traded. NIO's current last sale is 72.83% of the target price of $6.
BigBear.ai, Inc. (BBAI) is -0.1 at $3.86, with 1,332,810 shares traded. As reported by Zacks, the current mean recommendation for BBAI is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pre-Market Most Active for Jan 8, 2025 : CURR, ABSI, SANA, FUBO, ALTM, NVDA, QBTS, TSLL, QSI, IONQ, NIO, BBAI

Absci Corporation (ABSI) came out with a quarterly loss of $0.22 per share versus the Zacks Consensus Estimate of a loss of $0.19. This compares to loss of $0.27 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -15.79%. A quarter ago, it was expected that this company would post a loss of $0.19 per share when it actually produced a loss of $0.22, delivering a surprise of -15.79%.
Over the last four quarters, the company has not been able to surpass consensus EPS estimates.
Absci Corporation, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $1.27 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 37.93%. This compares to year-ago revenues of $3.37 million. The company has not been able to beat consensus revenue estimates over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Absci Corporation shares have lost about 7.6% since the beginning of the year versus the S&P 500's gain of 13.9%.
What's Next for Absci Corporation?
While Absci Corporation has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Absci Corporation: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.19 on $1.81 million in revenues for the coming quarter and -$0.80 on $7.42 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the top 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Mainz Biomed NV (MYNZ), has yet to report results for the quarter ended June 2024.
This company is expected to post quarterly loss of $0.25 per share in its upcoming report, which represents a year-over-year change of +55.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Mainz Biomed NV's revenues are expected to be $0.3 million, up 20% from the year-ago quarter.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Absci Corporation (ABSI) Reports Q2 Loss, Lags Revenue Estimates

Absci Corp (ABSI) is a biotech company that produces protein development technologies. As a data-first generative artificial intelligence (AI) drug creator, ABSI uses an integrated drug development platform that builds on traditional biological drug discovery with the help of AI to optimize multiple characteristics of the drug that may prove to be important towards development and effect of the drug.
Founded in 2011, the company operates out of Vancouver, Washington. Valued at a market cap of $408 million, the small-cap biotech is a component of the benchmark Russell 2000 Index (RUT).
ABSI stock has racked up an impressive return of 131.4% over the past 52 weeks, although the shares have pulled back more than 10% so far in 2024.
ABSI Reports Q1 Results
Absci’s most recent Q1 earnings were reported on May 14, including updates on its pipeline and generative AI platform.
The company reported revenue of $0.9 million during the quarter, down from $1.3 million a year ago, with the decrease driven by partnered and internal programs along with related progress. Research and development costs were relatively steady year over year at $12.2 million, with lower personnel costs partially offset by stock-based compensation. ABSI's net loss narrowed to $22.0 million from $23.4 million in the year-ago quarter.
Absci ended Q1 with a cash balance of $161.5 million, up from $97.7 million at the end of fiscal year 2023. Management projects to burn about $80 million in cash for the fiscal year ending Dec. 31, and predicts that its cash on hand will be sufficient to fund operations into the first half of 2027.
Looking ahead, ABSI is expecting to sign drug creation partnerships with at least four additional partners this year.
What's the Wall Street Forecast for ABSI?
Analysts have a bullish stance on biotech stock, with a consensus “Strong Buy” rating among 7 analysts in coverage. Six analysts call it a “Strong Buy,” with just one calling it a “Hold.”
Last week, Morgan Stanley (MS) joined the bandwagon, starting coverage of ABSI with an “Overweight” rating. In a note to clients, the analysts described the penny stock as “an economical way of gaining exposure to the theme of AI in biotech/drug development,” and set a price target of $7 - implying 95.5% upside potential.
In particular, Morgan Stanley mentioned that Absci’s recent partnerships with companies like AstraZeneca (AZN) and Almirall (ALM.E.DX) can “help validate Absci’s approach.”
The average 12-month price target for ABSI is even more ambitious, with the consensus forecast looking for a move up to $8.33 - about 132.6% north of current prices.
On the date of publication, Ruchi Gupta did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

1 'Strong Buy' Biotech Stock With 132% Upside Potential

In trading on Tuesday, the ARK Genomic Revolution ETF is outperforming other ETFs, up about 3.8% on the day. Components of that ETF showing particular strength include shares of Absci, up about 9.6% and shares of Ginkgo Bioworks Holdings, up about 9.5% on the day.
And underperforming other ETFs today is the iShares MSCI Global Metals & Mining Producers ETF, off about 1.4% in Tuesday afternoon trading. Among components of that ETF with the weakest showing on Tuesday were shares of Cleveland-cliffs, lower by about 7.6%, and shares of Nucor, lower by about 6.1% on the day.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tuesday's ETF Movers: ARKG, PICK

In trading on Tuesday, diagnostics shares were relative leaders, up on the day by about 3.4%. Leading the group were shares of VolitionRx, up about 41.5% and shares of GeneDx Holdings up about 15.5% on the day.
Also showing relative strength are biotechnology shares, up on the day by about 3.4% as a group, led by Absci, trading up by about 11.9% and Tiziana Life Sciences, trading up by about 11.4% on Tuesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tuesday Sector Leaders: Diagnostics, Biotechnology Stocks

Health care stocks were leaning lower pre-bell Monday as the Health Care Select Sector SPDR Fund (XLV) was down 0.4% while the iShares Biotechnology ETF (IBB) was down 0.3%.
Absci (ABSI) was up more than 8% amid an agreement with AstraZeneca (AZN) to collaborate on creating an artificial intelligence-designed antibody against an oncology target.
Veracyte (VCYT) was over 1% higher after saying new results with clinical observations and research conducted by users of its Decipher Prostate Genomic Classifier provide evidence backing the utility of the test to treat and manage prostate cancer.
Cigna (CI) was marginally advancing after saying it plans to reaffirm its full-year 2023 adjusted income from operations guidance of at least $24.75 per share during investor and analyst meetings over the next several weeks.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Health Care Sector Update for 12/04/2023: ABSI, AZN, VCYT, CI, XLV, IBB

(RTTNews) - Absci (ABSI) announced a collaboration with AstraZeneca to deliver an AI-designed antibody against an oncology target. Absci will contribute its generative AI technology to deliver a therapeutic candidate antibody for a specified oncology target. The deal includes an upfront commitment, R&D funding and milestone payments, in addition to royalties on product sales.
Puja Sapra, Senior Vice President of Biologics Engineering & Oncology Targeted Delivery, AstraZeneca said, "This collaboration is an exciting opportunity to utilize Absci's de novo AI antibody creation platform to design a potential new antibody therapy in oncology."
Absci's headquarters is in Vancouver, WA, its AI Research Lab is in New York City, and Innovation Center is in Zug, Switzerland.
Shares of Absci are up 8% in pre-market trade on Monday.
For More Such Health News, visit rttnews.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Absci, AstraZeneca Join To Deliver AI-designed Antibody Against Oncology Target

Health care stocks were advancing premarket Tuesday, with the iShares Biotechnology ETF (IBB) recently up 0.6% and the Health Care Select Sector SPDR Fund (XLV) 0.6% higher.
Jazz Pharmaceuticals (JAZZ) was gaining 5% in value amid an exclusive global licensing agreement with Autifony Therapeutics to discover and develop drug candidates for "two different ion channel targets associated with neurological disorders."
ALX Oncology (ALXO) was down more than 1% after it reported a Q3 diluted net loss of $1.24 per share, compared with the net loss of $0.87 a year earlier. Analysts polled by Capital IQ expected a loss of $0.87.
Absci (ABSI) was 4% higher after saying it has entered into a drug discovery partnership with Almirall to develop and market artificial intelligence-designed therapies for dermatological diseases.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Indicator	TTM Median
P/E	0.00 23.75
Price/Sales	135.67 3.01
P/B	2.08 2.20
P/FCF	0.00 18.30

Indicator	TTM Median
ROE	-44.66 25.41
ROA	-37.80 6.00
ROI	-43.66 9.66
Net Worth	0.41 0.20
Quick Ratio	0.00 1.71
Current Ratio	6.49 2.83

Indicator	TTM Median
Net Profit Margin	-3.10K 10.25
Operating Margin	-3.27K 14.24
Gross Margin	100.00 68.57
Return on tangible equity	-57.85 53.53

Indicator	TTM Median
EPS	0.24 0.37
EPS Forecast	0.19 0.37
Revenue	1.00M 16.00M
Gross Profit	1.00M —
EBITDA	-23.00M —

Absci Corporation

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