Absci at Guggenheim healthcare conference: pipeline push gains focus

At the 3rd Annual Guggenheim Healthcare Innovation Conference, Absci Corporation (ABSI) emphasized its shift from an AI drug discovery platform to a biopharmaceutical company focused on building its own antibody therapeutics. The company highlighted two key indications for ABS-201, its lead antibody program: pattern hair loss and endometriosis.

Management reported $201 million in cash at the end of Q2 2024, which should sustain operations through the second half of 2028 and cover key clinical milestones. The company expects 13-week interim data from the HEADLINE trial next month and a broader proof-of-concept readout in early 2025.

Absci positioned ABS-201 as a regenerative therapy, aiming to prevent hair follicle regression by blocking prolactin buildup in hair follicles. This approach differs from maintenance drugs and may offer a more effective and longer-lasting solution. The company reported preclinical results showing sustained hair growth for up to four years after a 28-week dosing period in stump-tailed macaques.

ABS-201 is being tested in Phase I-IIa trials for pattern hair loss and endometriosis, with the latter in an undisclosed immunology and inflammation indication. Absci aims for a $25 billion U.S. market opportunity in hair loss, with peak sales potentially exceeding $4 billion for endometriosis. The company also mentioned its $10.02 stock price, down 7.22% from the previous close, and its strong runway through the second half of 2028.