Absci Corporation reported its financial results for the second quarter of 2026, revealing a decrease in revenue and an increase in net losses compared to the same period in the previous year. For the three months ended June 30, 2026, the company generated $0.3 million in partner program revenue, a 46% decline from $0.6 million in the same quarter of 2025. For the first half of 2026, revenue totaled $0.5 million, down 70% from $1.8 million in the prior year. The decrease in revenue was attributed to the timing of project-based milestones and the mix of ongoing program activities under drug creation agreements.
Absci's operating expenses for the second quarter of 2026 were $34.5 million, an 8% increase from $32.0 million in the same quarter of 2025. Research and development expenses rose by 11% to $22.6 million, primarily due to increased costs associated with external preclinical and clinical development. The company reported a net loss of $33.2 million for the second quarter, compared to a net loss of $30.6 million in the same period last year. For the first half of 2026, the net loss was $62.8 million, up from $56.9 million in the prior year.
In terms of strategic developments, Absci has made significant progress in its clinical programs, particularly with its lead product candidate, ABS-201, which is being evaluated for the treatment of pattern hair loss and endometriosis. The company announced positive interim data from the HEADLINE Phase 1/2a clinical trial for ABS-201, indicating favorable safety and tolerability. The trial is expected to provide proof-of-concept data in the second half of 2026, with plans to initiate a Phase 2 trial for endometriosis in late 2026.
As of June 30, 2026, Absci reported cash, cash equivalents, and marketable securities totaling $201.1 million, a significant increase from $149.6 million at the end of 2025. This increase was bolstered by a public offering in June 2026, which raised approximately $93.6 million. The company anticipates continued investment in its research and development activities, particularly in advancing its Integrated Drug Creation platform and ongoing clinical trials. Absci's accumulated deficit reached $687.6 million, reflecting its ongoing investment in product development and operational growth.
Looking ahead, Absci expects to continue incurring significant expenses as it develops its product candidates and expands its partnerships. The company remains focused on leveraging its AI-driven drug creation platform to address unmet medical needs in the biopharmaceutical sector. However, it acknowledges the inherent uncertainties in drug development and the need for additional capital to support 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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