Key Highlights

  • ABSI shares are trading up 11.64% to $10.55, against a prior close of $9.45.
  • Interim Phase 1 data for ABS-201 showed an estimated antibody half-life of at least 65 days.
  • Three fireside chats are scheduled for November 10, November 18 and December 1.
  • KeyBanc lifted its price target to $20, and JPMorgan's sits at $15.
  • Third-quarter results are due on November 12.

ABS-201 Phase 1 Data Points to a Half-Life of at Least 65 Days

Absci (NASDAQ:ABSI) shares are trading up 11.64% to $10.55 as investors stay focused on the ABS-201 hair-loss program after positive interim Phase 1 data. The data showed an estimated antibody half-life of at least 65 days. Shares opened at $9.45, and the 52-week range runs from $2.24 to $12.06.

Absci is a clinical-stage, AI-native biopharmaceutical company based in Vancouver, Washington. Its Integrated Drug Creation platform pairs generative AI models, including the Origin-1 design model, with a high-throughput synthetic biology lab to design and validate antibodies, including de novo designs, in as little as six weeks.

Fireside Chats Line Up From Boston to London to Florida

The company also announced three investor conference appearances. It will hold fireside chats at the Guggenheim healthcare innovation conference in Boston on November 10, the Jefferies global healthcare conference in London on November 18, and the Evercore healthcare conference in Coral Gables, Florida, on December 1. Live and archived webcasts will be available on its investor relations site.

KeyBanc and JPMorgan Targets Frame the Valuation

KeyBanc lifted its price target to $20, while JPMorgan's target is $15, and the consensus rating is Moderate Buy. Absci carries a market cap of $1.81 billion and a loss of $0.80 per share, so no P/E ratio applies.

ABS-201 is an anti-prolactin receptor antibody in a Phase 1/2a study for androgenetic alopecia and is advancing into Phase 2 for endometriosis. The pipeline also includes ABS-101, an anti-TL1A antibody for inflammatory bowel disease, plus earlier immunology and oncology programs, and the company works with pharmaceutical, technology and academic collaborators.

The move comes as healthcare draws defensive rotation, with the State Street Health Care Select Sector SPDR ETF little changed, down 0.09%, well behind Absci's gain.

Third-Quarter Report on November 12 Is the Next Checkpoint

Absci reports third-quarter results on November 12. Risks include heavy reliance on one asset, minimal revenue, significant cash burn, recent equity raises to fund its runway and a high beta of 2.27. The company remains pre-commercial, with modest partnership revenue.