Key Highlights

  • Net loss was USD 33.3 million for the third quarter of 2026.
  • Cash, cash equivalents and marketable securities totaled USD 173.7 million.
  • Interim ABS-201 hair loss proof of concept data is targeted for December 2026.
  • Nine-month Research and Development expenses rose USD 9.4 million, or 17%.

Absci (NASDAQ:ABSI) reported a third-quarter 2026 net loss of USD 33.3 million, against USD 28.7 million a year earlier. Loss per share was USD 0.19, in line with the estimate. Revenue was USD 0.3 million, against an estimate of USD 657.81 thousand and USD 0.4 million in the prior-year quarter.

For the nine months, revenue was USD 0.8 million, against USD 2.2 million, and net loss was USD 96.1 million, against USD 85.6 million. The company is developing ABS-201 and other programs that use its capabilities in de novo design, multi-parametric lead optimization and reverse immunology.

Spending and Cash Flow

Research and development expenses increased by USD 9.4 million, or 17%, for the nine months ended September 30, 2026, against the same period of 2025. Selling, general and administrative expenses increased USD 0.6 million, or 7%, for the third quarter and USD 0.8 million, or 3%, for the nine months.

As of September 30, 2026, the company had an accumulated Deficit of USD 720.9 million and cash, cash equivalents and marketable securities totaling USD 173.7 million. Net cash provided by financing activities was USD 112.3 million for the nine months ended September 30, 2026.

For the nine months ended September 30, 2025, net cash used in Operating Activities was USD 63.7 million. It reflected a net loss of USD 85.6 million, adjusted for Depreciation and amortization of USD 8.9 million, stock-based compensation of USD 14.1 million and a net decrease in operating Assets and liabilities of USD 1.2 million. Net cash used in investing activities in that period was USD 69.7 million, from purchases of marketable securities of USD 134.9 million, partly offset by maturities of USD 65.2 million.

ABS-201 Program Timeline

The filing states that ABS-201 is being developed for two indications, pattern hair loss and endometriosis, each with a large affected population and significant unmet need. The company describes it as a candidate that could establish a new treatment category in indications where current Options remain inadequate.

On the call, management referred to interim proof of concept data from the Phase 1/2a trial in pattern hair loss in December 2026 and full proof of concept data in early 2027. It also referred to a potential advance into Phase 3, including an expedited path directly from Phase 1/2a, and to a planned Phase 2 endometriosis trial starting in mid-2027. Management said it plans FDA engagement on the development strategy.

The company said it leverages safety, tolerability and pharmacokinetic data being generated for ABS-201 in the ongoing hair loss trial to support the Phase 2 endometriosis trial. It noted that certain research findings discussed on the call reflect participant responses to a hypothetical product profile and are not clinical results for ABS-201.

Reported Reference Points for the Quarter

The call took place on November 12, 2026, and management noted that the call contains time-sensitive information that is accurate only as of the live broadcast. The reported items are the third-quarter net loss of USD 33.3 million, nine-month net loss of USD 96.1 million, cash and marketable securities of USD 173.7 million and the dates for the ABS-201 hair loss and endometriosis programs.

The company's pipeline programs are described in the filing as designed to address significant unmet medical needs, with potential first-in-class, best-in-class or disease-modifying profiles. Its shares are listed on the Nasdaq Global Select Market.