Absci expects cash to fund operations into 1H27

Absci (ABSI) now expects a gross use of cash, cash equivalents, and short-term investments of approximately $75 million, below the previous expectation of approximately $80 million, for the fiscal year ending December 31, 2024. This amount includes the expected costs associated with advancing the IND-enabling studies for ABS-101 with a third-party contract research organization. Absci continues to focus its investments and operations on advancing its internal pipeline of programs, alongside current and future partnered programs, while achieving ongoing platform improvements and operational efficiencies. Based on the company’s current plans, Absci believes its existing cash, cash equivalents, and short-term investments will be sufficient to fund its operations into the first half of 2027.