ABSI · Absci Corp

Absci Corporation, a clinical-stage biopharmaceutical company, develops various antibody therapeutics in the United States. Its preclinical development programs include ABS-101, which is in Phase 1 clinical trial for the treatment of inflammatory bowel disease; ABS-201, an anti-prolactin receptor (PRLR) antibody, which is phase 1/2a clinical trial for treating androgenic alopecia; ABS-301 for the treatment of immuno-oncology; and ABS-501 for treating oncology. Absci Corporation has collaboration agreements with PrecisionLife, Memorial Sloan Kettering Cancer Center, Twist Bioscience, Owkin, Oracle Corporation, and Advanced Micro Devices, Inc. for joint research and development activities. The company was founded in 2011 and is headquartered in Vancouver, Washington.

Cap structure and valuation

Cap structure
SP	$5.30
SO	155.9M
Options	25.4M
Warrants	0.0M
FD SO	181.3M
MC	$960.9M

Cash	$8.6M
Total debt	$4.0M
EV	$956.3M

TTM Multiples
EV / Revenue	520.9x
EV / EBITDA	—
MC / Net Income	—
EV / FCF	—
MC / FCF	—

MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-04-30. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative.

Financial statements

	3/31/26	12/31/25	9/30/25	6/30/25
Total Revenue	0.21	0.65	0.38	0.59
Revenue YoY %	(81.8%)	(2.3%)	(77.8%)	(53.3%)

SG&A	9.06	8.62	8.44	8.53
R&D	19.27	25.35	19.25	20.46

Operating Income	(30.85)	(31.04)	(30.15)	(31.39)
Operating Income YoY %	(11.2%)	(4.3%)	(4.4%)	(17.5%)
Operating Margin %	(14347.0%)	(4775.5%)	(7977.2%)	(5293.9%)
EBITDA	(28.12)	(28.21)	(27.31)	(28.39)
EBITDA Margin %	(13078.1%)	(4340.5%)	(7225.4%)	(4788.0%)

Interest Expense	0.02	0.03	0.04	0.06
Pretax Income	(29.58)	(29.72)	(28.60)	(30.44)
Tax Provision	0.02	(0.16)	0.10	0.13
Net Income	(29.60)	(29.56)	(28.71)	(30.57)
Net Margin %	(13767.0%)	(4548.0%)	(7594.2%)	(5155.0%)

Diluted EPS	-$0.19	-$0.19	-$0.20	-$0.24
Basic EPS	-$0.19	-$0.19	-$0.20	-$0.24
Diluted Avg Shares	153.0	4.7	143.8	127.6
Basic Avg Shares	153.0	4.7	143.8	127.6

	LTM	12/31/25	12/31/24	12/31/23	12/31/22
Total Revenue	1.84	2.80	4.53	5.72	5.75
Revenue YoY %	(34.4%)	(38.2%)	(20.7%)	(0.5%)	—

SG&A	34.64	35.06	36.17	37.83	40.55
R&D	84.33	81.42	63.86	48.07	58.91

Operating Income	(123.43)	(120.32)	(108.89)	(115.52)	(106.75)
Operating Income YoY %	(2.6%)	(10.5%)	5.7%	(8.2%)	—
Operating Margin %	(6723.0%)	(4297.0%)	(2401.6%)	(2020.2%)	(1857.5%)
EBITDA	(112.04)	(108.58)	(95.50)	(101.52)	(93.71)
EBITDA Margin %	(6102.2%)	(3877.7%)	(2106.3%)	(1775.4%)	(1630.6%)

Interest Expense	0.15	0.21	0.56	1.01	0.97
Pretax Income	(118.34)	(115.11)	(103.04)	(110.47)	(105.36)
Tax Provision	0.09	0.07	0.07	0.10	(0.46)
Net Income	(118.44)	(115.18)	(103.11)	(110.57)	(104.90)
Net Margin %	(6450.8%)	(4113.7%)	(2274.1%)	(1933.6%)	(1825.4%)

Diluted EPS	-$0.82	-$0.84	-$0.94	-$1.20	-$1.15
Basic EPS	-$0.82	-$0.84	-$0.94	-$1.20	-$1.15
Diluted Avg Shares	153.0	136.8	110.2	92.0	90.8
Basic Avg Shares	153.0	136.8	110.2	92.0	90.8

	3/31/26	12/31/25	9/30/25	6/30/25
Cash & Equivalents	8.63	20.02	9.48	38.02
Receivables	—	—	1.00	0.70
Total Current Assets	131.97	149.57	174.99	137.40

Total Assets	195.59	216.30	244.99	209.89

Accounts Payable	8.82	2.76	4.59	8.21
Total Current Liabilities	20.03	22.77	29.71	31.32
Total Liabilities	23.62	26.85	34.65	36.52

Retained Earnings	(654.38)	(624.78)	(595.22)	(566.52)
Total Equity	171.97	189.45	210.34	173.37

	LTM	12/31/25	12/31/24	12/31/23	12/31/22
Cash & Equivalents	8.63	20.02	41.21	72.36	59.95
Receivables	—	—	0.00	2.19	—
Total Current Assets	131.97	149.57	133.83	120.58	186.86

Goodwill	—	—	—	0.00	21.34
Total Assets	195.59	216.30	213.61	217.30	321.01

Accounts Payable	8.82	2.76	2.95	1.50	2.41
Total Current Liabilities	20.03	22.77	28.66	29.56	30.27
Long-term Debt	—	—	3.99	7.92	10.93
Total Liabilities	23.62	26.85	34.48	41.12	46.59

Retained Earnings	(654.38)	(624.78)	(509.60)	(406.50)	(295.93)
Total Equity	171.97	189.45	179.13	176.18	274.41

	3/31/26	12/31/25	9/30/25	6/30/25
Net Income	(29.60)	(29.56)	(28.71)	(30.57)
D&A	2.73	2.83	2.84	3.00
Stock-Based Comp	4.38	4.26	4.40	4.75
Operating Cash Flow	(26.31)	(29.18)	(25.03)	(16.87)

CapEx	(0.03)	0.10	(0.96)	(0.22)
Investing Cash Flow	7.36	19.55	(63.70)	9.04

Debt Repayment	(0.46)	(0.50)	(0.78)	(1.08)
Stock Issuance	7.96	3.50	60.65	0.00
Financing Cash Flow	7.56	3.84	60.32	(1.00)

Free Cash Flow	(26.34)	(29.08)	(25.99)	(17.10)

	LTM	12/31/25	12/31/24	12/31/23	12/31/22
Net Income	(118.44)	(115.18)	(103.11)	(110.57)	(104.90)
D&A	11.40	11.74	13.39	14.00	13.04
Stock-Based Comp	17.79	18.32	19.45	11.42	12.54
Operating Cash Flow	(97.39)	(92.92)	(72.40)	(64.64)	(81.34)

CapEx	(1.11)	(1.11)	(0.40)	(0.86)	(16.18)
Investing Cash Flow	(27.75)	(50.16)	(41.58)	81.94	(126.98)

Debt Repayment	(2.81)	(3.12)	(3.39)	(3.01)	(4.65)
Stock Issuance	72.10	105.83	82.40	0.86	0.66
Financing Cash Flow	70.71	105.95	82.53	(4.48)	5.24

Free Cash Flow	(98.50)	(94.03)	(72.81)	(65.50)	(97.51)

	3/31/26	12/31/25	9/30/25	6/30/25
Current Ratio	6.59	6.57	5.89	4.39
Quick Ratio	—	—	—	—
Debt / Equity	0.14	0.14	0.16	0.21
EBITDA Margin %	(13078.1%)	(4340.5%)	(7225.4%)	(4788.0%)
Working Capital	111.94	126.81	145.29	106.08
Net Debt	—	—	—	—
ROE %	(17.2%)	(15.6%)	(13.6%)	(17.6%)
ROA %	(15.1%)	(13.7%)	(11.7%)	(14.6%)

	LTM	12/31/25	12/31/24	12/31/23	12/31/22
Current Ratio	6.59	6.57	4.67	4.08	6.17
Quick Ratio	—	—	—	—	—
Debt / Equity	0.14	0.14	0.19	0.23	0.17
EBITDA Margin %	(6102.2%)	(3877.7%)	(2106.3%)	(1775.4%)	(1630.6%)
Working Capital	111.94	126.81	105.17	91.02	156.59
Net Debt	—	—	(37.22)	(64.44)	(49.02)
ROE %	(68.9%)	(60.8%)	(57.6%)	(62.8%)	(38.2%)
ROA %	(60.6%)	(53.3%)	(48.3%)	(50.9%)	(32.7%)

Insider activity (last 2 years)

Date Filed	Reporter	Relationship	Trans. Date	Code	Shares	Price	Total Value
2026-05-13	Pangalos Menelas N	Director	2026-05-13	P	37,453	$5.36	$200,748
2026-03-16	Busch Andreas	Officer (Chief Innovation Officer)	2026-03-12	P	100,000	$2.29	$229,000
2026-03-16	Walker Shelby J.	Officer (Chief Legal Officer)	2026-03-03	F	(9,825)	$2.80	-$27,510
2026-03-16	Jonasson Zachariah	Officer (CFO / CBO)	2026-03-03	F	(10,848)	$2.80	-$30,374
2026-03-16	Bedrick Todd	Officer (SVP, CAO)	2026-03-03	F	(5,282)	$2.80	-$14,790
2026-03-16	McClain Sean	Director, Officer (Chief Executive Officer)	2026-03-03	F	(25,316)	$2.80	-$70,885
2026-03-16	Walker Shelby J.	Officer (Chief Legal Officer)	2026-03-02	A	90,300	—	$0
2026-03-16	Walker Shelby J.	Officer (Chief Legal Officer)	2026-03-02	A	356,300	—	$0
2026-03-16	Jonasson Zachariah	Officer (CFO / CBO)	2026-03-02	A	135,400	—	$0
2026-03-16	Jonasson Zachariah	Officer (CFO / CBO)	2026-03-02	A	534,400	—	$0
2026-03-16	Bedrick Todd	Officer (SVP, CAO)	2026-03-02	A	49,600	—	$0
2026-03-16	Bedrick Todd	Officer (SVP, CAO)	2026-03-02	A	195,900	—	$0
2026-03-16	McClain Sean	Director, Officer (Chief Executive Officer)	2026-03-02	A	406,200	—	$0
2026-03-16	McClain Sean	Director, Officer (Chief Executive Officer)	2026-03-02	A	1,603,200	—	$0
2026-03-05	Pangalos Menelas N	Director	2026-03-02	A	5,800	—	$0
2026-03-05	Pangalos Menelas N	Director	2026-03-02	A	22,800	—	$0
2026-03-04	Walker Shelby J.	Officer (Chief Legal Officer)	2026-03-03	F	(9,825)	$2.80	-$27,510
2026-03-04	McClain Sean	Director, Officer (Chief Executive Officer)	2026-03-03	F	(25,316)	$2.80	-$70,885
2026-03-04	Bedrick Todd	Officer (SVP, CAO)	2026-03-03	F	(5,282)	$2.80	-$14,790
2026-03-04	Jonasson Zachariah	Officer (CFO / CBO)	2026-03-03	F	(10,848)	$2.80	-$30,374
2026-03-04	Busch Andreas	Officer (Chief Innovation Officer)	2026-03-03	F	(1,257)	$2.80	-$3,520
2026-03-04	Walker Shelby J.	Officer (Chief Legal Officer)	2026-03-02	A	90,300	—	$0
2026-03-04	Walker Shelby J.	Officer (Chief Legal Officer)	2026-03-02	A	356,300	—	$0
2026-03-04	McClain Sean	Director, Officer (Chief Executive Officer)	2026-03-02	A	406,200	—	$0
2026-03-04	McClain Sean	Director, Officer (Chief Executive Officer)	2026-03-02	A	1,603,200	—	$0
2026-03-04	Bedrick Todd	Officer (SVP, CAO)	2026-03-02	A	49,600	—	$0
2026-03-04	Bedrick Todd	Officer (SVP, CAO)	2026-03-02	A	195,900	—	$0
2026-03-04	Jonasson Zachariah	Officer (CFO / CBO)	2026-03-02	A	135,400	—	$0
2026-03-04	Jonasson Zachariah	Officer (CFO / CBO)	2026-03-02	A	534,400	—	$0
2026-03-03	Jonasson Zachariah	Officer (CFO / CBO)	2026-03-02	F	(8,307)	$2.74	-$22,761
2026-03-03	Pangalos Menelas N	Director	2026-02-27	P	75,095	$2.74	$205,760
2026-03-03	Jonasson Zachariah	Officer (CFO / CBO)	2026-02-02	F	(17,496)	$2.99	-$52,313
2026-03-03	McClain Sean	Director, Officer (Chief Executive Officer)	2026-02-02	F	(26,761)	$2.99	-$80,015
2026-02-25	McClain Sean	Director, Officer (Chief Executive Officer)	2026-02-23	M	396,399	$1.21	$479,643
2026-02-25	McClain Sean	Director, Officer (Chief Executive Officer)	2026-02-23	F	(267,008)	$2.65	-$707,571
2026-02-25	McClain Sean	Director, Officer (Chief Executive Officer)	2026-02-23	M	(396,399)	—	$-0
2026-02-04	Busch Andreas	Officer (Chief Innovation Officer)	2026-02-03	F	(1,469)	$2.99	-$4,392
2026-02-04	McClain Sean	Director, Officer (Chief Executive Officer)	2026-02-02	S	(26,761)	$2.99	-$80,015
2026-02-04	Jonasson Zachariah	Officer (CFO / CBO)	2026-02-02	S	(17,496)	$2.99	-$52,313
2026-02-04	Bedrick Todd	Officer (SVP, CAO)	2026-02-02	F	(3,659)	$2.99	-$10,940
2026-01-30	Bedrick Todd	Officer (SVP, CAO)	2026-01-28	A	15,000	—	$0
2026-01-30	Bedrick Todd	Officer (SVP, CAO)	2026-01-28	A	59,400	—	$0
2025-12-09	VAN HOUTEN FRANS	Director	2025-12-05	P	40,000	$3.72	$148,800
2025-12-01	Jonasson Zachariah	Officer (CFO / CBO)	2025-11-30	F	(8,320)	$3.17	-$26,374
2025-10-14	McClain Sean	Director, Officer (Chief Executive Officer)	2025-10-14	F	(23,293)	$3.68	-$85,718
2025-10-14	Jonasson Zachariah	Officer (CFO / CBO)	2025-10-14	F	(387)	$3.68	-$1,424
2025-10-14	Busch Andreas	Officer (Chief Innovation Officer)	2025-10-14	F	(3,092)	$3.68	-$11,379
2025-10-14	Bedrick Todd	Officer (SVP, CAO)	2025-10-14	F	(21,950)	$3.68	-$80,776
2025-09-24	Pangalos Menelas N	Director	2025-09-22	P	95,785	$2.66	$254,788
2025-09-24	Bedrick Todd	Officer (SVP, CAO)	2025-09-22	P	10,000	$2.70	$27,000
2025-09-02	Jonasson Zachariah	Officer (CFO / CBO)	2025-08-31	F	(8,319)	$2.39	-$19,882
2025-07-29	Busch Andreas	Officer (Chief Innovation Officer)	2025-07-28	P	50,000	$3.04	$152,000
2025-07-09	Szela Mary T	Director	2025-07-07	A	178,400	—	$0
2025-06-12	Pangalos Menelas N	Director	2025-06-11	A	14,500	—	$0
2025-06-12	Pangalos Menelas N	Director	2025-06-11	A	57,400	—	$0
2025-06-12	Rabinovitsj Daniel A	Director	2025-06-11	A	14,500	—	$0
2025-06-12	Rabinovitsj Daniel A	Director	2025-06-11	A	57,400	—	$0
2025-06-12	Sirosh Joseph	Director	2025-06-11	A	14,500	—	$0
2025-06-12	Sirosh Joseph	Director	2025-06-11	A	57,400	—	$0
2025-06-12	MCGINNIS KAREN K	Director	2025-06-11	A	14,500	—	$0
2025-06-12	MCGINNIS KAREN K	Director	2025-06-11	A	57,400	—	$0
2025-06-12	VAN HOUTEN FRANS	Director	2025-06-11	A	14,500	—	$0
2025-06-12	VAN HOUTEN FRANS	Director	2025-06-11	A	57,400	—	$0
2025-06-02	Jonasson Zachariah	Officer (CFO / CBO)	2025-05-31	F	(5,194)	$2.65	-$13,764
2025-03-04	Walker Shelby J.	Officer (Chief Legal Officer)	2025-03-03	A	59,300	—	$0
2025-03-04	Walker Shelby J.	Officer (Chief Legal Officer)	2025-03-03	A	234,200	—	$0
2025-03-04	Bedrick Todd	Officer (SVP, CAO)	2025-03-03	A	29,700	—	$0
2025-03-04	Bedrick Todd	Officer (SVP, CAO)	2025-03-03	A	117,300	—	$0
2025-03-04	McClain Sean	Director, Officer (Chief Executive Officer)	2025-03-03	A	190,200	—	$0
2025-03-04	McClain Sean	Director, Officer (Chief Executive Officer)	2025-03-03	A	750,900	—	$0
2025-03-04	Busch Andreas	Officer (Chief Innovation Officer)	2025-03-03	A	23,700	—	$0
2025-03-04	Busch Andreas	Officer (Chief Innovation Officer)	2025-03-03	A	93,700	—	$0
2025-03-04	Jonasson Zachariah	Officer (CFO / CBO)	2025-03-03	A	81,500	—	$0
2025-03-04	Jonasson Zachariah	Officer (CFO / CBO)	2025-03-03	A	321,800	—	$0
2025-03-04	Jonasson Zachariah	Officer (CFO / CBO)	2025-02-28	F	(5,219)	$4.04	-$21,085
2025-02-04	Jonasson Zachariah	Officer (CFO / CBO)	2025-02-01	F	(11,567)	$3.71	-$42,914
2025-02-04	McClain Sean	Director, Officer (Chief Executive Officer)	2025-02-01	F	(16,991)	$3.71	-$63,037
2025-02-04	Bedrick Todd	Officer (SVP, CAO)	2025-02-01	F	(2,630)	$3.71	-$9,757
2025-02-04	Busch Andreas	Officer (Chief Innovation Officer)	2025-02-01	F	(1,469)	$3.71	-$5,450
2024-12-09	Jonasson Zachariah	Officer (CFO / CBO)	2024-11-30	F	(5,194)	$3.05	-$15,842
2024-10-16	Bedrick Todd	Officer (SVP, CAO)	2024-10-12	F	(15,606)	$4.07	-$63,516
2024-10-16	Jonasson Zachariah	Officer (CFO / CBO)	2024-10-12	F	(242)	$4.07	-$985
2024-10-16	Busch Andreas	Officer (Chief Innovation Officer)	2024-10-12	F	(3,092)	$4.07	-$12,584
2024-10-16	McClain Sean	Director, Officer (Chief Executive Officer)	2024-10-12	F	(14,543)	$4.07	-$59,190
2024-09-04	Jonasson Zachariah	Officer (CFO / CBO)	2024-08-31	F	(20,775)	$4.40	-$91,410
2024-07-03	Walker Shelby J.	Officer (Chief Legal Officer)	2024-07-01	A	613,000	—	$0
2024-06-14	Jonasson Zachariah	Officer (CFO / CBO)	2024-06-13	M	28,700	$3.39	$97,293
2024-06-14	Jonasson Zachariah	Officer (CFO / CBO)	2024-06-13	S	(19,859)	$4.98	-$98,892
2024-06-14	Jonasson Zachariah	Officer (CFO / CBO)	2024-06-13	M	(28,700)	—	$-0
2024-06-14	Nagpal Amrit	Director	2024-06-12	A	8,820	—	$0
2024-06-14	Nagpal Amrit	Director	2024-06-12	A	36,274	—	$0
2024-06-14	Redmile Group, LLC	Director	2024-06-12	A	8,820	—	$0
2024-06-14	Redmile Group, LLC	Director	2024-06-12	A	36,274	—	$0
2024-06-14	Pangalos Menelas N	Director	2024-06-12	A	3,675	—	$0
2024-06-14	Pangalos Menelas N	Director	2024-06-12	A	15,114	—	$0
2024-06-14	Rabinovitsj Daniel A	Director	2024-06-12	A	8,820	—	$0
2024-06-14	Rabinovitsj Daniel A	Director	2024-06-12	A	36,274	—	$0
2024-06-14	Sirosh Joseph	Director	2024-06-12	A	8,820	—	$0
2024-06-14	Sirosh Joseph	Director	2024-06-12	A	36,274	—	$0
2024-06-14	MCGINNIS KAREN K	Director	2024-06-12	A	8,820	—	$0
2024-06-14	MCGINNIS KAREN K	Director	2024-06-12	A	36,274	—	$0
2024-06-14	VAN HOUTEN FRANS	Director	2024-06-12	A	8,820	—	$0
2024-06-14	VAN HOUTEN FRANS	Director	2024-06-12	A	36,274	—	$0
2024-05-28	Phoenix Venture Partners II LP	10% Owner	2024-05-22	S	(3,100,000)	$4.40	-$13,640,000