greeksoup/ stock research
Stock research / United States / ABSI / Q3 FY2026 / Earnings call

Absci Corp.: Q3 FY2026 earnings call

What management said about Q3 FY2026, from the documents filed with the SEC on 12 November 2026: press release. Guidance figures: 1 lowered, 1 new, 4 kept. The quarter’s numbers.

Key takeaways

  • Net loss widened year over year: Net loss was $33.3 million, against $28.7 million a year earlier; basic and diluted loss per share was $0.19 against $0.20. Source
  • R&D rose on ABS-201 spending: Research and development expenses were $23.6 million, against $19.2 million, mainly from external ABS-201 nonclinical and clinical work, partly offset by lower personnel costs. Source
  • Interim hair-loss data due December: 13-week interim proof-of-concept data from the HEADLINE trial is expected in December 2026, with full 26-week data in early 2027. Source
  • Phase 2 start moved to mid-2027: Phase 2 STORYLINE trial start is now anticipated in mid-2027, after the fourth quarter of 2026 expected in the prior release. Source
  • Galderma executive named CCO: Former Galderma executive Gerry Muhle was appointed Chief Commercial Officer as the company builds its commercial infrastructure. Source
  • Cash and securities declined in quarter: Cash, cash equivalents and marketable securities were $173.7 million, against $201.1 million at June 30, 2026: cash $13.4 million and marketable securities $160.4 million. Source

“As we approach our first look at proof-of-concept data for ABS-201 next month, followed by full data early next year”

Sean McClain, Founder and CEO

Guidance

AreaPeriodFigureAgainst last quarter
ABS-201 pattern hair loss interim data Source13-week interim proof-of-concept, December 2026December 2026Kept
ABS-201 pattern hair loss full data Source26-week full proof-of-concept dataearly 2027Kept
STORYLINE Phase 2 endometriosis trial initiation Sourcemid-2027mid-2027Lowered from fourth quarter 2026
STORYLINE enrollment SourcePhase 2 trialapproximately 150 patients from approximately 10 or more countriesNew
ABS-201 half-life and dosing interval Sourceover a six-month periodat least 65 days; two or three injections over a six-month periodKept
Cash runway Sourceoperating plansinto the second half of 2028Kept

What changed from last quarter

  • Guidance lowered: Phase 2 STORYLINE initiation moved from the fourth quarter of 2026 to mid-2027. Source
  • New: Former Galderma executive Gerry Muhle appointed Chief Commercial Officer. Source
  • New: STORYLINE described as a dose-ranging trial testing two or three dose levels. Source
  • Guidance kept: Cash runway into the second half of 2028 is restated. Source

Quarter results and losses

  • Net loss widened year over year: Net loss was $33.3 million, against $28.7 million a year earlier; basic and diluted loss per share was $0.19 against $0.20. Source
  • Partner program revenue declined modestly: Partner program revenue was $0.3 million, against $0.4 million a year earlier. Source
  • Nine-month loss per share narrowed: Nine-month loss per share was $0.60, against $0.65, while nine-month partner revenue was $0.8 million, against $2.2 million. Source

Operating costs and other income

  • R&D rose on ABS-201 spending: Research and development expenses were $23.6 million, against $19.2 million, mainly from external ABS-201 nonclinical and clinical work, partly offset by lower personnel costs. Source
  • SG&A increase tied to stock pay: Selling, general and administrative expenses were $9.0 million, against $8.4 million, primarily due to stock-based compensation. Source
  • Other income roughly steady: Total other income, net was $1.7 million, against $1.6 million a year earlier. Source

“As ABS-201 progresses through the clinic, we have begun building our commercial infrastructure to support this and potential future programs.”

Sean McClain, Founder and CEO

ABS-201 hair loss program

  • Interim hair-loss data due December: 13-week interim proof-of-concept data from the HEADLINE trial is expected in December 2026, with full 26-week data in early 2027. Source
  • Half-life supports two or three injections: Estimated half-life of at least 65 days is cited as supporting a targeted dosing interval of two or three injections over six months. Source
  • Phase 1 tolerability reported in June: Interim Phase 1 data reported in June described the study medication as appearing well tolerated across blinded single ascending dose cohorts. Source

Endometriosis program and STORYLINE

  • Phase 2 start moved to mid-2027: Phase 2 STORYLINE trial start is now anticipated in mid-2027, after the fourth quarter of 2026 expected in the prior release. Source
  • About 150 patients planned: The planned double-blind, randomized, placebo-controlled trial would enroll about 150 patients from about 10 or more countries, subject to protocol finalization and regulatory clearance. Source
  • Dose-ranging design with two or three doses: STORYLINE is designed as a dose-ranging trial testing two or three dose levels, to be confirmed after HEADLINE data review. Source
  • Pain-based efficacy endpoints: Efficacy endpoints would include reductions in dysmenorrhea and non-menstrual pelvic pain, reported through patient-reported measures, in participants with surgically-diagnosed endometriosis. Source
  • Non-sex steroid mechanism described: The company describes ABS-201 for endometriosis as a non-sex steroid hormone mechanism that may be disease-modifying and act on pain and lesion growth. Source

“we are thrilled to be welcoming Gerry Muhle to Absci as our Chief Commercial Officer”

Sean McClain, Founder and CEO

Commercial leadership

  • Galderma executive named CCO: Former Galderma executive Gerry Muhle was appointed Chief Commercial Officer as the company builds its commercial infrastructure. Source
  • Muhle's cross-sector background: Muhle has more than 25 years of experience across pharma, aesthetics and consumer brands. Source
  • Commercial build for owned programs: The company says it continues to build commercial infrastructure for its wholly-owned programs. Source

Cash and share count

  • Cash and securities declined in quarter: Cash, cash equivalents and marketable securities were $173.7 million, against $201.1 million at June 30, 2026: cash $13.4 million and marketable securities $160.4 million. Source
  • Runway into second half of 2028: Management says cash and securities are sufficient to fund operating plans into the second half of 2028. Source
  • Weighted share count was higher: Weighted-average basic and diluted shares were 171.8 million, against 143.8 million a year earlier. Source

Platform and partnered programs

  • ABS-202 remains preclinical: ABS-202, an anti-PRLR antibody, is in preclinical development for an undisclosed I&I indication. Source
  • Partnered programs and talks continue: The company says it continues to advance partnered drug creation programs and partnering discussions for other internal programs. Source

Presentations and publications

  • Barcelona hair meeting abstract: An abstract on ABS-201 hair growth mechanisms was accepted for the Third Barcelona Hair Meeting 2026. Source
  • Endometriosis abstract at ASRM: An ASRM 2026 abstract reports that prolactin receptor blockade relieved pain and inflammation in a mouse model of endometriosis. Source
  • Cosmetic medicine symposium presentation: A presentation at the New Frontiers in Cosmetic Medicine symposium covers extended release minoxidil and prolactin receptor inhibition for hair growth. Source

Coming up, as management said on 12 November 2026

  • Interim and full hair-loss data dated: 13-week interim proof-of-concept data from the HEADLINE trial is expected in December 2026, with full 26-week data in early 2027. Source
  • STORYLINE start mid-2027 pending clearance: The company expects STORYLINE to start in mid-2027, subject to protocol finalization and regulatory clearance. Source
  • Commercial infrastructure build continues: The company says it continues to build commercial infrastructure to support its wholly-owned programs under the new Chief Commercial Officer. Source

Risks management discussed

  • Regulatory: Start of STORYLINE depends on protocol finalization and regulatory clearance, as management noted. Source
  • Operational: Dose levels for STORYLINE are to be confirmed after review of HEADLINE data, which is still in progress. Source
  • Regulatory: The company's description of ABS-201 as a new PHL treatment is conditioned on successful development and approval. Source

Earlier plans management reported on

  • On track: Management describes the HEADLINE trial as progressing on track toward the interim data readout. Source
  • Not stated: The prior release expected interim data in the second half of 2026; the current release dates it to December 2026.
  • Not stated: The prior release expected the Phase 2 endometriosis trial to start in the fourth quarter of 2026; the current release gives mid-2027.

Other quarters

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.