Absci Corp.: Q1 FY2026 earnings call

What management said about Q1 FY2026, from the documents filed with the SEC on 7 May 2026: press release. Guidance figures: 7 kept. The quarter’s numbers.

Read the filing

Key takeaways

• All four SAD cohorts dosed: All four planned healthy volunteer single ascending dose cohorts of the Phase 1/2a HEADLINE trial have been dosed, up from three in the prior release. Management says ABS-201 continues to be well tolerated. Source
• Multiple-dose cohort started in AGA: Dosing started in the first multiple ascending dose cohort of androgenetic alopecia participants. Source
• Dosing interval set at few injections: Preliminary PK modeling supports a targeted dosing interval of two or three injections over six months. Source
• ABS-202 added to pipeline: ABS-202, a second anti-PRLR antibody, was added to the internal pipeline. It is in preclinical development for an undisclosed inflammation and immunology indication. Source
• R&D spend rose on ABS-201: Research and development expenses were $19.3 million, up from $16.4 million. The company attributes the increase to internal programs, including external preclinical and clinical costs for ABS-201. Source
• Net loss widened: Net loss was $29.6 million, compared with $26.3 million a year earlier. Basic and diluted loss per share was $0.19, against $0.21. Source
• Cash position declined: Cash, cash equivalents and marketable securities were $125.7 million at March 31, 2026, down from $144.3 million at December 31, 2025. Source
• Runway into first half 2028: Management believes current cash, cash equivalents and marketable securities will fund operating plans into the first half of 2028, the same window stated in the prior release. Source

“2026 is going to be a data-rich year for Absci with multiple readouts ahead,”

Sean McClain, Founder and CEO

Guidance

What changed from last quarter

• New guidance: A targeted dosing interval of two or three injections over six months was stated, based on preliminary PK modeling. The prior release described a convenient administration profile without an interval. Source
• New: ABS-202, a second anti-PRLR antibody in preclinical development for an undisclosed inflammation and immunology indication, was added to the internal pipeline. Source
• New: Dosing began in the first multiple ascending dose cohort of androgenetic alopecia participants. The prior release reported only the single ascending dose portion. Source
• New: A clinical advisory board for the ABS-201 endometriosis program was launched. Source

ABS-201 clinical progress

• All four SAD cohorts dosed: All four planned healthy volunteer single ascending dose cohorts of the Phase 1/2a HEADLINE trial have been dosed, up from three in the prior release. Management says ABS-201 continues to be well tolerated. Source
• Multiple-dose cohort started in AGA: Dosing started in the first multiple ascending dose cohort of androgenetic alopecia participants. Source
• Dosing interval set at few injections: Preliminary PK modeling supports a targeted dosing interval of two or three injections over six months. Source
• Preliminary data moved to Q2: Preliminary safety, tolerability and PK data are expected in the second quarter of 2026, which falls within the first-half 2026 window in the prior release. Source

Pipeline and program expansion

• ABS-202 added to pipeline: ABS-202, a second anti-PRLR antibody, was added to the internal pipeline. It is in preclinical development for an undisclosed inflammation and immunology indication. Source
• Endometriosis advisory board launched: A clinical advisory board for the ABS-201 endometriosis program was launched. Members come from endometriosis and clinical development backgrounds, including Yale, Duke, UCSF and the Mayo Clinic. Source
• Endometriosis Phase 2 start planned: Initiation of a Phase 2 endometriosis trial is anticipated in the fourth quarter of 2026, with potential proof-of-concept data in the second half of 2027. Source
• Prolactin portfolio being expanded: Management says it is using its prolactin biology leadership to expand a pipeline of programs centred on prolactin and the prolactin receptor. Source
• Internal programs under partnering talks: Partnering discussions continue for other internal programs at various stages of preclinical and clinical development. Source
• Endometriosis market framed as unmet need: The company cites endometriosis prevalence of up to 10% of women worldwide, an estimated 9 million women in the U.S., and no FDA-approved disease-modifying therapy. Source

“ABS-201, our AI-designed long-acting antibody against the prolactin receptor, has the potential to be the first new mechanism of action in androgenetic alopecia in nearly three decades, with a targeted dosing interval of just a few times a year.”

Sean McClain, Founder and CEO

Partnerships and drug creation

• Drug creation partnerships progressing: Management says work continues on existing drug creation partnered programs and that it anticipates signing one or more partnerships in 2026, including with a Large Pharma company. Source

Results and operating costs

• Revenue down year on year: Revenue was $0.2 million in the quarter, compared with $1.2 million in the first quarter of 2025. Source
• R&D spend rose on ABS-201: Research and development expenses were $19.3 million, up from $16.4 million. The company attributes the increase to internal programs, including external preclinical and clinical costs for ABS-201. Source
• SG&A slightly lower on personnel: SG&A was $9.1 million, down from $9.5 million. The company attributes the decrease mainly to lower personnel-related costs. Source
• Net loss widened: Net loss was $29.6 million, compared with $26.3 million a year earlier. Basic and diluted loss per share was $0.19, against $0.21. Source
• Weighted share count increased: Weighted-average basic and diluted shares were 152,961,894, up from 124,461,439 a year earlier. Source

“We're combining Origin with the prolactin biology we've built to go after a target that has been overlooked.”

Sean McClain, Founder and CEO

Cash and runway

• Cash position declined: Cash, cash equivalents and marketable securities were $125.7 million at March 31, 2026, down from $144.3 million at December 31, 2025. Source
• Runway into first half 2028: Management believes current cash, cash equivalents and marketable securities will fund operating plans into the first half of 2028, the same window stated in the prior release. Source
• Cash held in equivalents and securities: Cash and cash equivalents were $8.6 million, against $20.0 million at December 31, 2025. Marketable securities were $117.1 million, against $124.3 million. Source

Scientific presentations

• ABS-201 hair follicle data at meetings: Accepted presentations include Society of Investigative Dermatology 2026 on targeting the prolactin receptor with ABS-201 in human male scalp skin. Source
• Origin-1 platform presented: The Origin-1 generative AI platform is listed for presentation at the ICLR 2026 GEM Workshop, and at PEGS Boston 2026 under a similar title. Source
• Endometriosis model data presented: A Society of Endometriosis and Uterine Disorders 2026 abstract covers ABS-201 relieving pain and inflammation in a mouse model of endometriosis. Source

Coming up, as management said on 7 May 2026

• Preliminary safety and PK readout: Management expects to report preliminary safety, tolerability and PK data for ABS-201 in the second quarter of 2026. Source
• Endometriosis Phase 2 start: Initiation of a Phase 2 endometriosis trial is anticipated in the fourth quarter of 2026. Source
• Partnership signings expected in 2026: Management anticipates signing one or more drug creation partnerships during 2026, including with a Large Pharma company. Source

Earlier plans management reported on

• Met: Management says all four planned SAD cohorts have been dosed, up from three in the prior release. Source
• Not stated: The prior release gave a first-half 2026 window for preliminary data. The current release names the second quarter of 2026 for the same data.
• Not stated: The endometriosis Phase 2 start is restated from the prior release with the same timing.

Other quarters

• Q3 FY2026 earnings call
• Q2 FY2026 earnings call
• Q4 FY2025 earnings call
• Q3 FY2025 results

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.