Absci reports Q2 2026 results, positive ABS-201 Phase 1 data, $100M raise with Lilly
Absci says its hair-loss antibody was well tolerated in early dosing, adds $40 million from Eli Lilly, and now expects cash to last into second half of 2028.
Absci Corporation reported second quarter 2026 financial and operating results on August 11, 2026, alongside an update on its lead program, ABS-201, an anti-PRLR antibody being studied for pattern hair loss and endometriosis.
The company said blinded, aggregate interim data from the single ascending dose cohorts suggested the study drug was well tolerated with a favorable safety and tolerability profile, and interim pharmacokinetic data across all four cohorts put the estimated half-life at least 65 days.1 Absci said these results support the potential for dosing two or three times over a six month period, pending confirmation through continued follow-up.1 The company is continuing to dose participants with pattern hair loss in the multiple ascending dose portion of the HEADLINE trial, and expects interim proof-of-concept data in the second half of 2026 and full data in early 2027.1 For endometriosis, Absci said it anticipates initiating a Phase 2 trial in the fourth quarter of 2026, with potential proof-of-concept data in the second half of 2027.1
Absci also disclosed it completed a $100 million underwritten offering, including a $40 million strategic equity investment from Eli Lilly & Company, with participation from Adage, BVF Partners, Columbia Threadneedle, Invus, Redmile, and a large investment management firm.1 The company said the Lilly partnership is tailored around ABS-201's clinical development strategy and does not confer program rights to Lilly, though a Lilly representative has joined Absci's Endometriosis Advisory Board.1
Financially, research and development expenses were $22.6 million for the quarter, up from $20.5 million a year earlier1, while net loss was $33.2 million, compared to $30.6 million in the prior-year quarter.1 Cash, cash equivalents, and marketable securities stood at $201.1 million as of June 30, 2026, up from $125.7 million at March 31, 2026, reflecting $93.6 million in net proceeds from the June offering.1 Absci said this is now expected to fund operations into the second half of 2028.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.