Absci Corp

absci.com

What Do They Do?

Develops antibody therapeutics for its own pipeline and uses an AI drug-creation platform to support pharmaceutical and biotechnology partners’ programs.

How Do They Make Money?

Partners pay fees under drug-creation agreements: some are paid upfront, others as project milestones are reached or throughout the program. Future payments may include clinical, regulatory and commercial milestones, as well as royalties on product sales.

FY2025 revenue

Who Are Their Customers?

Pharmaceutical and biotechnology companies work with Absci through drug-creation collaborations and co-development partnerships. Its platform supports programs developed with these partners.

Do Revenues Turn Into Profits?

No. It lost $115.2M in FY2025.

Operating income, FY2025

−4297% of revenue

▲ +10% (Loss) vs FY2024 (−$108.9M, −2402%)

Net income, FY2025

−4114% of revenue

▲ +12% (Loss) vs FY2024 (−$103.1M, −2274%)

Free cash flow, FY2025

−3358% of revenue

▲ +29% (Loss) vs FY2024 (−$72.8M, −1606%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −46%; vs $593K in Q2 FY2025
Net income: ▲ +9% (Loss); vs −$30.6M in Q2 FY2025

Aug 11, 2026 Absci reported positive interim Phase 1 data for ABS-201 Blinded interim data suggested favorable safety and tolerability; the company continued dosing participants in the multiple-dose trial.

Shrinking. Revenue fell 41% in 4 years, from $4.8M in FY2021 to $2.8M in FY2025, about 13% a year.

More internal clinical development The older report centers on using the platform for partner programs and building an internal discovery pipeline. The latest report describes advancing selected internally developed antibody programs through clinical development while continuing partnered work.

A narrower therapeutic focus The older report describes creating biologics and new modalities, including cell-line development. The latest report frames the platform primarily around designing antibody-based therapeutics, including multispecific antibodies.

Who Do They Compete With?

Competes with Hope Medicine, Veradermics, Pelage Pharmaceuticals, Cosmo Pharmaceuticals, Chugai Pharmaceuticals, GenSci, Merck, Roche, Roivant, Sanofi, Teva, Spyre, AbbVie, Xencor, Generate Biomedicines, Xaira Therapeutics, Recursion Pharmaceuticals, and Isomorphic Labs

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