NASDAQ$ABSI
Absci Corp · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Absci reported financial results for the first quarter of 2024, highlighting progress in internal and partnered programs.
Absci reported a revenue of $0.9 million and a net loss of $22.0 million for the first quarter of 2024. The company continues to advance its internal pipeline programs and expects to sign additional drug creation partnerships. Cash, cash equivalents, and short-term investments totaled $161.5 million as of March 31, 2024.
- Initiated IND-enabling studies for ABS-101 in February 2024.
- Advanced ABS-201 and ABS-301 programs through preclinical studies.
- Completed an underwritten public offering of common stock raising gross proceeds of approximately $86.4 million in March 2024.
- Anticipates signing additional drug creation partnerships with at least four Partners in 2024.
Headline financials
Revenue & EPS history
Absci · Revenue · Quarterly
$898K
Forward guidance
Absci expects a gross use of cash, cash equivalents, and short-term investments of approximately $80 million for the fiscal year ending December 31, 2024. Based on 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.
Tailwinds
- Advancing internal pipeline of programs.
- Focusing on current and future partnered programs.
- Achieving ongoing platform improvements.
- Achieving operational efficiencies.
- Existing cash, cash equivalents, and short-term investments will be sufficient to fund its operations into the first half of 2027.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
-9.1%
Avg return
Earnings day
-9.1%
Avg return
5 days after
-9.3%
Avg return
30 days after
21%
5 / 24 earnings
Positive
+13.8%
Q2 2022
Best reaction
-28.9%
Q4 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | -5.6% | +8.6% | — | |
| Q1 2026 | -3.4% | -10.1% | +7.1% | |
| Q3 2025 | -22.4% | -16.5% | +7.1% | |
| Q2 2025 | +5.1% | -4.7% | -14.1% | |
| Q1 2025 | -0.7% | -6.4% | -6.1% | |
| Q4 2024 | -3.2% | +0.6% | +0.3% | |
| Q3 2024 | -26.6% | -33.6% | -14.0% | |
| Q2 2024 | +6.7% | +7.5% | +0.5% | |
| Q1 2024 | -4.5% | -8.8% | -13.6% | |
| Q4 2023 | -2.8% | +2.4% | -6.3% | |
| Q3 2023 | +12.0% | +16.0% | +120.8% | |
| Q2 2023 | -2.4% | +0.0% | -1.2% | |
| Q1 2023 | -6.4% | +11.2% | +34.4% | |
| Q4 2022 | -0.8% | -0.3% | -25.2% | |
| Q3 2022 | -0.3% | +1.6% | -14.7% | |
| Q2 2022 | +13.8% | +9.0% | -1.4% | |
| Q1 2022 | -11.3% | -9.0% | -21.7% | |
| Q4 2021 | +7.2% | +9.6% | +3.8% | |
| Q3 2021 | -28.5% | -38.0% | -41.4% | |
| Q3 2020 | -28.5% | -38.0% | -41.4% | |
| Q1 2021 | -28.9% | -30.1% | -46.4% | |
| Q2 2021 | -28.9% | -30.1% | -46.4% | |
| Q2 2020 | -28.9% | -30.1% | -46.4% | |
| Q4 2020 | -28.9% | -30.1% | -46.4% | |
| Q1 2020 | — | — | — |
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