Absci Corporation (NASDAQ:ABSI) stock is trading higher on Wednesday after the company reported positive interim Phase 1 results for its investigational anti-prolactin receptor antibody, ABS-201, while also pricing a $100 million underwritten stock offering to support continued development of the program.
ABS-201 Shows Favorable Safety And Pharmacokinetic Profile
The clinical-stage biopharmaceutical company said the early-stage trial findings demonstrated a favorable safety, pharmacokinetic, and immunogenicity profile for ABS-201, supporting further evaluation in androgenetic alopecia (AGA) and endometriosis.
Somaratne added that the company plans to continue evaluating ABS-201 in the ongoing multiple ascending dose, or MAD, portion of the HEADLINE study in AGA patients and intends to begin a Phase 2 trial in endometriosis later this year.
Trial Advances Into Multiple Ascending Dose Portion
The ongoing Phase 1 study is a randomized, double-blind, placebo-controlled trial assessing the safety and pharmacokinetics of ABS-201 in healthy volunteers with and without AGA.
Interim data include 32 healthy adults enrolled across four single ascending dose cohorts evaluating intravenous doses of 150 mg, 450 mg, 900 mg, and 1,800 mg.
According to blinded aggregate data through the June 8, 2026, cutoff, ABS-201 was generally well tolerated.
No serious adverse events were reported. Most treatment-emergent adverse events were mild, with a single moderate headache in one participant that investigators deemed unlikely to be related to treatment.
Headache was the most commonly reported adverse event, occurring in four participants.
Pharmacokinetic findings indicated that ABS-201 may have a half-life of at least 65 days, potentially supporting dosing two or three times over a six-month period, subject to confirmation in ongoing follow-up.
The company also reported no apparent impact of anti-drug antibodies on pharmacokinetics in the single ascending dose cohorts.
Raises Capital To Support ABS-201 Program
Separately, Absci announced the pricing of an underwritten offering of 13.5 million shares at $7.41 per share.
The company expects gross proceeds of approximately $100 million. Absci said it intends to use the net proceeds to advance ABS-201 across androgenetic alopecia and endometriosis, as well as for working capital and other general corporate purposes.
Cash, cash equivalents, and marketable securities as of March 31, 2026, were $125.7 million, which Absci expected to provide a cash runway into the first half of 2028.
ABSI Price Action: Absci shares were up 20.65% at $8.94 during premarket trading on Wednesday. The stock is trading at a new 52-week high, according to Benzinga Pro data.
Photo: Alopecia-Photo via Shutterstock
