Absci Corporation reported its financial results for the third quarter of 2025, revealing a significant decline in revenue and continued operational losses. The company generated $0.4 million in partner program revenue for the three months ended September 30, 2025, a decrease of 78% compared to $1.7 million in the same period last year. For the nine months ended September 30, 2025, revenue totaled $2.2 million, down 44% from $3.9 million in the prior year. The decrease in revenue was attributed to the timing of project-based milestones and the mix of ongoing program activity under drug creation agreements.
Absci's operating expenses remained relatively stable, totaling $30.5 million for the third quarter of 2025, slightly down from $30.6 million in the same quarter of 2024. Research and development expenses increased by 7% to $19.2 million, driven by advancements in drug creation programs. However, selling, general, and administrative expenses decreased by 9% to $8.4 million, primarily due to reduced stock-based compensation. The company reported a net loss of $28.7 million for the third quarter, compared to a net loss of $27.4 million in the same period last year.
The company’s financial position showed an accumulated deficit of $595.2 million as of September 30, 2025, with cash, cash equivalents, and marketable securities totaling $152.5 million. Absci's cash flow from operating activities for the nine months ended September 30, 2025, was a net outflow of $63.7 million, an increase from $55.4 million in the same period of 2024. The increase in cash used in operations was primarily due to higher research and development costs.
Strategically, Absci has focused on advancing its Integrated Drug Creation platform, which utilizes generative AI for antibody therapeutics. The company has identified five wholly owned, internally developed programs, with ongoing clinical trials for its lead candidate, ABS-101, targeting Inflammatory Bowel Disease. Additionally, Absci entered into a strategic collaboration with Advanced Micro Devices, Inc. (AMD) in January 2025, which included a $20 million investment to enhance its AI drug creation capabilities.
Looking ahead, Absci anticipates continued significant expenses related to the development of its programs and the expansion of its platform. The company aims to secure additional partnerships and advance its drug candidates through clinical development. However, it acknowledges the inherent uncertainties in biopharmaceutical development and the need for additional capital to fund its operations and growth initiatives.
About Absci Corp
Absci Corporation is a biopharmaceutical company specializing in AI-driven antibody drug creation. Its Integrated Drug Creation platform combines generative AI, synthetic biology, and high-throughput wet-lab validation to design and optimize novel antibody therapeutics, including against hard-to-drug targets. Absci develops internally owned programs and partners with pharmaceutical and biotech firms, aiming to accelerate biologic drug discovery, improve success rates, and generate milestone and royalty revenues across diverse therapeutic areas.
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