Latest news with #Absci
Business Insider
14 hours ago
- Business
- Business Insider
CRSP, ABSI, IRDM: Cathie Wood Offloads $16.4M of CRISPR Therapeutics Stock, Buys Absci and Iridium
Ace hedge fund manager Cathie Wood made some interesting trades on July 25, according to ARK Invest's daily trade updates. Wood sold $16.46 million worth of biotechnology company Crispr Therapeutics (CRSP) and $2.15 million of defense contractor Kratos Defense (KTOS) stock. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Meanwhile, ARK funds added $6.2 million in biotechnology firm Absci Corp. (ABSI), purchased 262,141 shares of genomic diagnostics company Veracyte (VCYT), and acquired 69,969 shares of satellite company Iridium Communications (IRDM). Wood Buys the Dip in Absci Stock On July 25, Wood loaded up on 2.25 million shares of Absci, totaling $6.2 million. Absci leverages generative artificial intelligence (AI) and synthetic biology to develop novel biologic drugs, primarily antibodies, for pharmaceutical and biotechnology partners. ABSI stock plunged 17.7% on Friday after the company announced a $50 million secondary offering of its common shares. Wood seems to have capitalized on the 'dip' in Absci shares to gain a notable position. All seven analysts tracking ABSI stock have rated it a Strong Buy on TipRanks. The average Absci price target of $9.17 implies an impressive 217.3% upside potential from current levels. Year-to-date, ABSI stock has gained 10.3%. Why Is Wood Dumping CRSP Stock? Wood appears to have taken a bearish stance on gene-editing company Crispr, although she maintains a rather optimistic outlook on the overall genomics sector. On Friday, The ARK Innovation ETF (ARKK) sold 190,840 shares of Crispr worth $12.6 million, and the ARK Genomic Revolution ETF (ARKG) sold another 58,268 shares of CRSP for $3.8 million. Crispr is a Swiss-American biotech company focused on developing transformative gene-based medicines to treat serious diseases such as sickle cell disease, beta-thalassemia, various cancers, type 1 diabetes, and cardiovascular diseases. It uses advanced gene-editing technology, primarily its CRISPR/Cas9 platform, to develop its medicines. Despite the latest sale, CRSP remains the largest holding in the ARKG fund, with a market value of $137.5 million, and is also the fourth largest holding in the ARKK fund, with a market value of $450.6 million. Notably, CRSP stock has surged over 64% so far this year, backed by its revolutionary business model. Crispr is expected to release its Q2FY25 results in August. Wall Street expects CRSP to report a diluted loss of $1.4 per share, 1.3% better than the prior year's loss of $1.49. Revenues are expected to jump nearly 1100% year-over-year to $6.14 million. On TipRanks, CRSP stock has a Moderate Buy consensus rating based on 14 Buys and seven Hold ratings. Also, the average Crispr Therapeutics price target of $69.38 implies 7.1% upside potential from current levels. Year-to-date, CRSP stock has soared 64.5%.
Globe and Mail
5 days ago
- Business
- Globe and Mail
Absci Announces Pricing of Public Offering of Common Stock
VANCOUVER, Wash., July 24, 2025 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI) ('Absci'), a clinical-stage biopharmaceutical company advancing potential breakthrough therapeutics designed with generative AI, today announced the pricing of an underwritten public offering of 16,670,000 shares of its common stock at a public offering price of $3.00 per share, before deducting underwriting discounts and commissions. In addition, Absci has granted the underwriters a 30-day option to purchase up to an additional 2,500,500 shares of its common stock on the same terms and conditions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $50 million, excluding any exercise of the underwriters' option to purchase additional shares. All of the shares in the offering are to be sold by Absci. Absci intends to use the net proceeds from the offering to fund the advancement of its internally developed programs, continued investment in its Integrated Drug Creation™ platform, and for working capital and other general corporate purposes. Morgan Stanley, J.P. Morgan, Jefferies, and TD Cowen are acting as joint book-running managers for the offering. The offering is expected to close on or about July 25, 2025, subject to the satisfaction of customary closing conditions. The shares of common stock are being offered by Absci pursuant to an effective shelf registration statement on Form S-3 (File No. 333-267043) that was previously filed with the U.S. Securities and Exchange Commission (SEC) on August 24, 2022 and became effective on September 2, 2022. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering was filed with the SEC on July 24, 2025. The final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and may be obtained, when available, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by telephone: (866) 718-1649, or by email at prospectus@ J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@ and postsalemanualrequests@ Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388 or by email at prospectus_department@ TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (833) 297- 2926, or by email at or by accessing the SEC's website at This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Absci Absci is a data-first generative AI drug creation company that combines AI with scalable wet lab technologies to create better biologics for patients, faster. Absci's headquarters is in Vancouver, WA, with our AI Research Lab in New York City and an Innovation Center in Zug, Switzerland. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding Absci's anticipated public offering. The words 'may,' 'might,' 'will,' 'could,' 'would,' 'should,' 'expect,' 'plan,' 'anticipate,' 'intend,' 'believe,' 'expect,' 'estimate,' 'seek,' 'predict,' 'future,' 'project,' 'potential,' 'continue,' 'target' and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release, such as the intended offering terms, are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, uncertainties related to market conditions, statements about the expected gross proceeds from the offering and use of proceeds, and the completion of the offering on the anticipated terms or at all. These and other risks and uncertainties are described in greater detail in the section entitled 'Risk Factors' in Absci's Annual Report on Form 10-K for the year ended December 31, 2024, as amended, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, as well as discussions of potential risks, uncertainties, and other important factors in Absci's other filings with the SEC, including those contained or incorporated by reference in the preliminary prospectus supplement and accompanying prospectus related to the public offering filed with the SEC. In addition, any forward-looking statements contained in this press release represent Absci's views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Absci explicitly disclaims any obligation to update any forward-looking statements, except as required by law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.
Globe and Mail
5 days ago
- Business
- Globe and Mail
Absci Announces Proposed Public Offering of Common Stock
VANCOUVER, Wash., July 24, 2025 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI) ('Absci'), a clinical-stage biopharmaceutical company advancing potential breakthrough therapeutics designed with generative AI, announced today that it has commenced an underwritten public offering of $50 million of shares of its common stock. Absci also intends to grant the underwriters a 30-day option to purchase up to an additional $7.5 million of shares of its common stock. All of the shares in the proposed offering are to be sold by Absci. Absci intends to use the net proceeds from the offering to fund the advancement of its internally developed programs, continued investment in its Integrated Drug Creation™ platform, and for working capital and other general corporate purposes. Morgan Stanley, J.P. Morgan, Jefferies, and TD Securities (USA) LLC are acting as joint book-running managers for the proposed offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the proposed offering. The shares of common stock are being offered by Absci pursuant to an effective shelf registration statement on Form S-3 (File No. 333-267043) that was previously filed with the U.S. Securities and Exchange Commission (SEC) on August 24, 2022 and became effective on September 2, 2022. The offering is being made only by means of a prospectus supplement and the accompanying prospectus that will form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and may be obtained, when available, from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, by telephone: (866) 718-1649, or by email at prospectus@ J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@ and postsalemanualrequests@ Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388 or by email at prospectus_department@ TD Securities (USA) LLC, 1 Vanderbilt Avenue, New York, NY 10017, by telephone at (833) 297- 2926, or by email at or by accessing the SEC's website at The final terms of the proposed offering will be disclosed in a final prospectus supplement to be filed with the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Absci Absci is a data-first generative AI drug creation company that combines AI with scalable wet lab technologies to create better biologics for patients, faster. Absci's headquarters is in Vancouver, WA, with our AI Research Lab in New York City and an Innovation Center in Zug, Switzerland. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding Absci's anticipated public offering. The words 'may,' 'might,' 'will,' 'could,' 'would,' 'should,' 'expect,' 'plan,' 'anticipate,' 'intend,' 'believe,' 'expect,' 'estimate,' 'seek,' 'predict,' 'future,' 'project,' 'potential,' 'continue,' 'target' and similar words or expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release, such as the intended offering terms, are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, uncertainties related to market conditions, the completion of the public offering on the anticipated terms or at all, Absci's intention to grant the underwriters an option to purchase additional shares and the intended use of proceeds. These and other risks and uncertainties are described in greater detail in the section entitled 'Risk Factors' in Absci's Annual Report on Form 10-K for the year ended December 31, 2024, as amended, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, as well as discussions of potential risks, uncertainties, and other important factors in Absci's other filings with the SEC, including those contained or incorporated by reference in the preliminary prospectus supplement and accompanying prospectus related to the proposed public offering expected to be filed with the SEC. In addition, any forward-looking statements contained in this press release represent Absci's views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Absci explicitly disclaims any obligation to update any forward-looking statements. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.
Yahoo
03-07-2025
- Business
- Yahoo
MS initiates coverage on AI Biotechs, flags key pipeline catalysts
-- Morgan Stanley initiated coverage on three AI-integrated biotechnology firms, Absci, Schrodinger (NASDAQ:SDGR), and Recursion Pharmaceuticals, flagging divergent business models and upcoming catalysts in a sector under pressure. The brokerage rated Absci 'overweight' with a $7 price target, and assigned 'equal weight' ratings to Schrodinger and Recursion with price targets of $28 and $5, respectively. Absci combines generative AI with lab validation through its Integrated Drug Creation Platform. Its lead candidate, ABS-101, is a TL1A monoclonal antibody in Phase I for inflammatory bowel disease. Interim data from this trial, expected in 2H25, is being closely watched for indicators of safety, pharmacokinetics, and immunogenicity. Absci is in discussions with three biopharma firms for potential partnerships and aims to use any resulting non-dilutive funding to extend its cash runway, currently guided through 1H27. A second candidate, ABS-201, targets androgenetic alopecia and could address a U.S. population of 80 million, representing a $7B–$14B market opportunity. A Phase I trial is planned for 2026, with a proof-of-concept readout expected in 2H26. Morgan Stanley does not yet assign financial value to this program due to its early stage. Schrodinger's model includes a software licensing segment that contributed $180 million in 2024 revenue, up 13% year-over-year, and showed 98-100% customer retention for contracts over $500K. FY25 guidance indicates expected software revenue growth of 10–15%, or about $203 million. Peak modeled contribution from the software business is $404 million by 2035, though consensus projects up to $497 million. The company's proprietary pipeline includes SGR-1505, which posted early efficacy in B-cell malignancies with 18% response in CLL/SLL and 100% in WM in a Phase I trial. No dose-limiting toxicities were reported. Additional data for SGR-1505 and two other oncology programs (SGR-2921 and SGR-3515) are expected in 2H25. Schrodinger's price target was lowered from $31 to $28 due to increasing competitive pressure in CLL. Recursion has refocused its pipeline following the discontinuation of three programs. Its lead drug, REC-4881, is in a Phase Ib/II trial for familial adenomatous polyposis. Early data showed a median 43% reduction in polyps across six patients. Further efficacy and safety results are expected later this year. Additional programs include REC-617 and REC-1245, both in early-stage trials. Recursion maintains partnerships with Bayer (OTC:BAYRY), Roche/Genentech, and Sanofi (NASDAQ:SNY), with potential economics totaling ~$20 billion. The brokerage models $840 million in risk-adjusted peak U.S. sales for REC-4881, with Street consensus at $409 million. Despite $85B+ in AI-biotech deal flow from 2019 to mid-2025, these stocks have underperformed broader biotech indices since 2023. Morgan Stanley cites valuation overhangs, volatile clinical results, and lack of near-term revenue visibility but maintains that platform innovation and partnerships may unlock longer-term value. Related articles MS initiates coverage on AI Biotechs, flags key pipeline catalysts U.S., Europe push to build critical minerals supply chains as China dominates Citi names DuPont top chemicals pick, sees earnings support from electronics, FX Sign in to access your portfolio
Yahoo
13-05-2025
- Business
- Yahoo
Absci Announces First Participants Dosed in Phase 1 Clinical Trial of ABS-101, a Potential Best-In-Class anti-TL1A Antibody for the Treatment of Inflammatory Bowel Disease
Absci becomes clinical stage company with ABS-101, first AI-designed biologic for IBD, beginning Phase 1 trial Preclinical data for ABS-101 demonstrates high potency and potential for quarterly dosing, an improvement in efficacy and convenience over first-generation anti-TL1As Interim data anticipated in the second half of 2025 VANCOUVER, Wash., May 13, 2025 (GLOBE NEWSWIRE) -- Absci Corporation (NASDAQ: ABSI) a clinical-stage biopharmaceutical company advancing breakthrough therapeutics with generative AI, today announced that the first healthy volunteers have been dosed in a randomized, placebo-controlled Phase 1 study evaluating ABS-101, an investigational anti-TL1A antibody engineered with Absci's generative AI platform. ABS-101 is formulated for quarterly subcutaneous dosing, superior potency against monomeric and trimeric TL1A, and reduced immunogenicity risk enabling improved efficacy, patient convenience, and adherence. Interim safety, PK/PD, and immunogenicity data are expected in the second half of 2025. "We are excited to advance ABS-101 into Phase 1 clinical trials,' said Andreas Busch, PhD, Absci Chief Innovation Officer. 'Designed and optimized using our generative AI platform, ABS-101 exhibits high affinity and potency, expected low immunogenicity, and an extended dosing interval—all of which are intentional attributes achieved through AI." The Phase 1 (ACTRN12625000212459p) randomized, double-blind, placebo-controlled, first-in-human study of single ascending doses of ABS-101 will evaluate safety, tolerability, pharmacokinetics (PK), and pharmacodynamics (PD) in healthy volunteers. The study is expected to enroll approximately 40 healthy adult participants. The primary endpoint is safety and tolerability, with PK, PD, and immunogenicity serving as secondary endpoints. The Phase 1 interim data readout is expected in the second half of 2025. 'The initiation of our first clinical trial marks Absci's transition to a clinical-stage biotech, with a pipeline wholly designed and optimized using AI,' said Sean McClain, Founder and CEO of Absci. 'ABS-101 is the first proof point of our generative AI platform—a therapeutic engineered with speed and precision using AI. With a growing pipeline of AI-designed biologics, we're accelerating a new chapter to bring better biologics to patients, faster.' In addition to ABS-101, Absci is rapidly advancing a pipeline of AI-designed biologics targeting high-value indications, including ABS-201—an anti-prolactin receptor antibody for androgenetic alopecia, commonly known as male and female pattern hair loss. ABS-201 is an important innovation in an indication with significant unmet medical need and large patient population. Preclinical data for ABS-201 shows improved hair regrowth versus existing standard of care, high potency, and a favorable safety profile, with Phase 1 trials expected to begin in early 2026. About ABS-101ABS-101 is a potential best-in-class anti-TL1A antibody that demonstrates high affinity and potency, ability to bind the monomer and trimer of TL1A, anticipated low immunogenicity, high bioavailability in non-human primates (NHP), and potential to be administered subcutaneously with an anticipated dosing interval of 8-12 weeks, or even less frequently. Absci has also shared data illustrating that ABS-101 shows reduced internalization of TL1A immune-complexes in in vitro THP-1 immunogenicity tests compared to a competitor molecule with a high clinical anti-drug antibody (ADA) rate, suggesting a lower chance of ABS-101 developing ADAs in clinical settings. Additionally, Absci has shown data from ABS-101's NHP PK/PD study, demonstrating confirmatory prolonged target engagement, dose dependency of target engagement (including a ceiling effect), and significantly improved target engagement as compared to competitor molecules at a comparative dosing regimen. ABS-101 was well-tolerated at all doses in a 13-week GLP study in cynomolgus monkeys. Absci anticipates reporting interim Phase 1 data for this study in the second half of 2025. About AbsciAbsci is advancing the future of drug discovery with generative design to create better biologics for patients, faster. Our Integrated Drug Creation™ platform combines cutting-edge AI models with a synthetic biology data engine, enabling the rapid design of innovative therapeutics that address challenging therapeutic targets. Absci's approach leverages a continuous feedback loop between advanced AI algorithms and wet lab validation. Each cycle refines our data and strengthens our models, facilitating rapid innovation and enhancing the precision of our therapeutic designs. Alongside collaborations with top pharmaceutical, biotech, tech, and academic leaders, Absci is advancing its own pipeline of AI designed therapeutics. These include ABS-101, a potentially best-in-class antibody to treat inflammatory bowel disease (IBD), as well as other indications, and ABS-201, a groundbreaking innovation in hair regrowth with the potential to redefine treatment possibilities for androgenetic alopecia, commonly known as male and female pattern baldness. Absci is headquartered in Vancouver, WA, with an AI Research Lab in New York City, and Innovation Center in Switzerland. Learn more at or follow us on LinkedIn (@absci), X (@Abscibio) and YouTube. Absci Forward-Looking StatementsCertain statements in this press release that are not historical facts are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements containing the words 'will,' 'may,' 'pursues,' 'anticipates,' 'plans,' 'believes,' 'aims,' 'potential,' 'forecast,' 'estimates,' 'extends,' 'expects,' and 'intends,' or similar expressions. We intend these forward-looking statements, including statements regarding the capabilities of our Integrated Drug Creation platform, our technology development efforts and the application of those efforts, the potential benefits of our partnership with Twist, the plans and success of our current and future partnerships and the ability to generate advancements towards treating disease using generative AI drug creation to accelerate the development of novel candidate therapies, the anticipated value to us under our partnerships, and our internal therapeutic asset programs, to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, and we make this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies, and prospects, which are based on the information currently available to us and on assumptions we have made. We can give no assurance that the plans, intentions, expectations, or strategies will be attained or achieved, and furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, risks and uncertainties relating to our ability to effectively collaborate on research, drug discovery and development activities with our partners or potential partners, our dependence on third parties to support our internal development programs, including for the manufacture and supply of preclinical and clinical supplies of our product candidates or components thereof, our existing and potential partners' ability and willingness to pursue the development and commercialization of programs or product candidates under the terms of our partnership agreements, and overall market conditions and regulatory developments that may affect our and our partners' activities under these agreements, along with those risks set forth in our most recent periodic report filed with the U.S. Securities and Exchange Commission, as well as discussions of potential risks, uncertainties, and other important factors in our subsequent filings with the U.S. Securities and Exchange Commission. Except as required by law, we assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. Absci Investor ContactAlex KhanVP, Finance & Investor Relationsinvestors@ Absci Media Contactpress@ in to access your portfolio
