ABS Ind (ABSI)

[Dharna]

AI / pharmaceutical/oxford/Caltech/ and now the Gates foundation for grants. I'm in I'll take the chance

[Dharna]

AI / pharmaceutical/oxford/Caltech/ and now the Gates foundation for grants. I'm in I'll take the chance

[Dharna]

And I was calling for 4 to 12 dollars AI pharmaceutical staying above the 50-day moving average chart looks prime for a 400% move. I'm a buyer at $2

[Dharna]

And I was calling for 4 to 12 dollars AI pharmaceutical staying above the 50-day moving average chart looks prime for a 400% move. I'm a buyer at $2

[Monksdream]

Absci Corp NASDAQ: ABSI

GoSymbol lookup
Health Care : Biotechnology | Small Cap BlendCompany profile
Absci Corporation is a generative artificial intelligence (AI) drug creation company. The Company combines AI with scalable wet lab technologies to create biologics for patients. It has built an Integrated Drug Creation platform to identify novel drug targets, discover biotherapeutic candidates, and generate the cell lines to manufacture them in a single process. The Company uses its platform to predict, identify, design, construct, screen, select and scale production of biologic drug candidates for its partners, and learn from the data it generates. Its SoluPro technology is a multiplex synthetic biology approach that overcomes the limitations of highest-throughput automation labs. The Company supports its generative AI designs with its wet lab's high-throughput functional validation capabilities. The Company applies generative AI to design optimal drug candidates based on target affinity, safety, manufacturability, and other traits.

[janeyH]

seems hot but its a ghost town here ... i'm riding

[Bill Harford]

Down almost 10% today wtf

[subslover]

Absci Reports Second Quarter 2022 Financial Results and Business Update
August 11 2022 - 08:00AM
GlobeNewswire Inc.
Alert
Print
Share On Facebook

Absci Corporation (Nasdaq: ABSI), the drug and target discovery company harnessing deep learning AI and synthetic biology to expand the therapeutic potential of proteins, today reported financial and operating results for the quarter ended June 30, 2022.
"As we pass the halfway point of 2022, our team continues to make excellent progress toward our stated objectives," said Sean McClain, founder and CEO. "Since becoming a public company one year ago, we have signed 13 discovery programs and continue to see momentum with adoption of our technology, reflected in the discovery deals we've signed each of the last three quarters. With ten new Active Programs for drug discovery activities signed year-to-date, we have already exceeded our guidance for the year. Furthermore, in light of current market conditions, we've recently undertaken a diligent strategic review of our operations to refine our focus on drug discovery value creation. This has led to some difficult staffing decisions as we've prioritized activities, but it has afforded us an extended cash runway and positioned us optimally to achieve our vision of fully in silico protein-based drug discovery."

Recent Highlights

Exceeded annual guidance of at least eight new Active Programs for 2022 with ten Active Programs for drug discovery activities signed year-to-date, bringing the total current number of Active Programs to 19.
Entered into a multi-program collaboration agreement with an undisclosed biotech partner operating in stealth-mode. The partner is focused on discovery and development of antibody-drug-conjugates initially for oncology indications and has developed novel, proprietary warhead linker chemistries that it will target to specified sites on subject antibodies by exploiting Absci’s Bionic™ protein non-standard amino acid incorporation technology.
Presented results of development of AI models for antibody optimization in an oral talk at the PEGS conference in May; the research was additionally selected for presentation at the 2022 International Conference on Machine Learning Workshop on Computational Biology in July. This research, along with our plan for continued manuscripts, further demonstrates our progress and leading role in the field of AI/ML drug discovery.
Strengthened executive leadership team, adding Denise Dettore as Chief People Officer and Jack Gold as Chief Marketing Officer.
Strategic Reorganization

Absci recently undertook a strategic review of operations to refine our focus on drug discovery value creation, yielding a comprehensive corporate reorganization. Absci is focusing on initiatives that reinforce progress toward our business inflection points, extending cash and cash equivalents sufficient to fund our operations into late 2025.

Internal R&D efforts will prioritize continued development of our AI-powered drug discovery platform and enhancement of our Bionic™ protein non-standard amino acid incorporation technology. As a result of this reorganization, Absci has undertaken actions to streamline its workforce, resulting in a reduction of headcount, in addition to the elimination of certain planned hires and capital expenditures.

Second Quarter 2022 Financial Results

Cash and cash equivalents as of June 30, 2022 was $206.0 million, as compared to $252.6 million as of December 31, 2021.

Research and development expenses were $16.2 million for the second quarter of 2022, as compared to $11.0 million for the second quarter of 2021. This increase was primarily driven by growth in our team and related personnel costs, increased lab operation costs, and additional investments in platform expansion, including data initiatives and AI capabilities.

Selling, general, and administrative expenses were $10.5 million for the second quarter of 2022, as compared to $5.2 million for the second quarter of 2021. This increase was primarily due to personnel-related costs and other expenses related to operating as a publicly traded company.

Net loss was $28.7 million for the second quarter of 2022, as compared to $41.2 million for the second quarter of 2021.

2022 Outlook

Absci now expects a net decrease in cash, cash equivalents, and restricted cash of approximately $110 million for 2022. This includes one-time, time-based disbursements totaling $10.5 million from restricted cash associated with the Denovium and Totient acquisitions.

About Absci

Absci is the drug and target discovery company harnessing deep learning AI and synthetic biology to expand the therapeutic potential of proteins. We built our Integrated Drug Creation™ Platform to identify novel drug targets, discover optimal biotherapeutic candidates, and generate the cell lines to manufacture them in a single efficient process. Biotech and pharma innovators partner with us to create the next generation of protein-based drugs, including those that may be impossible to make with other technologies. Our goal is to enable the development of better medicines by Translating Ideas into Drugs™. For more information visit www.absci.com and follow us on social media: Twitter: @Abscibio, LinkedIn: @absci, and subscribe to our Absci YouTube channel.

Availability of Other Information About Absci

Investors and others should note that we routinely communicate with investors and the public using our website (www.absci.com) and our investor relations website (investors.absci.com), including without limitation, through the posting of investor presentations, SEC filings, press releases, public conference calls and webcasts on these websites. The information that we post on these websites could be deemed to be material information. As a result, investors, the media, and others interested in Absci are encouraged to review this information on a regular basis. The contents of our website, or any other website that may be accessed from our website, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Forward-Looking Statements

[cheynew]

A very poorly rated analyst, but FWIW:

Berenberg Bank Maintains Their Buy Rating on AbSci (ABSI)
March 23 2022 - 06:06AM
TipRanks
Alert
Print
Share On Facebook
Berenberg Bank analyst Gaurav Goparaju maintained a Buy rating on AbSci (ABSI – Research Report) today and set a price target of $28.00. The company's shares closed last Tuesday at $7.48, close to its 52-week low of $5.63. According to TipRanks.com, Goparaju is ranked #7177 out of 7927 analysts. AbSci has an analyst consensus of Moderate Buy, with a price target consensus of $28.00. See the top stocks recommended by analysts >> The company has a one-year high of $31.53 and a one-year low of $5.63. Currently, AbSci has an average volume of 1.53M.
https://www.tipranks.com/news/blurbs/berenberg-bank-maintains-their-buy-rating-on-absci-absi?utm_source=advfn.com&utm_medium=referral

[cheynew]

Absci Develops Groundbreaking Machine Learning Models for In-Silico Antibody Design, Powered by NVIDIA
Mentioned: ABSI
Absci to present in-silico drug discovery technology at NVIDIA GTC

Breakthrough ML achievements highlight the viability of the computational lead optimization pipeline

Absci collaborates with NVIDIA on research to accelerate and scale in-silico drug discovery platform

Absci Corporation (Nasdaq: ABSI), a drug and target discovery company harnessing deep learning, AI and synthetic biology to expand the therapeutic potential of proteins, announced the development of machine learning models for designing and refining novel therapeutic antibodies. The new research demonstrates progress towards a fully in-silico machine learning pipeline for drug discovery.

Absci is pursuing a vision for fully in-silico biologic drug design, going from target to drug candidate sequence 'with the click of a button.' The ability to realize this vision is built on Absci's proprietary data generation technologies that can evaluate up to ten billion individual cells per week - each expressing a drug sequence variant - which provide relevant, high-quality substrate data for AI applications.

In today's session at NVIDIA GTC, a global AI conference, Absci Lead AI Scientist Joshua Meier will describe two of the company's drug discovery ML breakthroughs and present validation of Absci's in-silico lead optimization models. The validation, requiring wet-lab testing of model predictions, was enabled by Absci's proprietary and highly engineered synthetic biology platform and assays.

-- The first breakthrough is a machine learning model for quantitative prediction of antibody target affinity, allowing computational predictions of binding strength. In one example, Absci demonstrated that this model could accurately predict affinity across four orders of magnitude for previously unseen trastuzumab variants, including accurately predicting variants that had better target affinities than wild-type trastuzumab.

-- The second breakthrough is a machine learning model to score 'naturalness' of antibody variants; naturalness is a parameter that Absci shows is associated with multiple developability characteristics, and antibodies with better developability have a better likelihood of success as drug candidates through preclinical testing and clinical development.

-- Further, Absci showed that generative ML techniques enabled simultaneous in-silico optimization for both affinity and naturalness, underscoring the viability of the computational lead optimization pipeline.

Absci is collaborating with NVIDIA to accelerate and scale Absci's in-silico ML pipeline, using NVIDIA expertise and optimized graph- and transformer kernels on NVIDIA A100 Tensor Core GPUs. In addition, Absci will continue to synthesize and test the predictions from the models in its proprietary ultra-throughput assays to further validate, iteratively train, and refine the AI performance.

Sean McClain, founder and CEO of Absci, said, "We are thrilled to be collaborating with NVIDIA to advance the field and enable the development of better medicines. Our AI breakthroughs stand on the shoulders of our tremendously differentiated synthetic biology platform and breakthrough assays - the data generation engine that fuels our ML training and validation. Based on this powerful Absci technology, along with NVIDIA's scientific and technical expertise and compute resources, we are looking forward to scaling the advancements of our in-silico lead optimization models to generalize across the wide breadth of target classes, therapeutic modalities, and developability parameters relevant for biopharmaceutical discovery."

"Our collaboration with Absci is aimed at enabling the most advanced AI paradigms and accelerating protein design," said Kimberly Powell, vice president of healthcare at NVIDIA. "Absci's powerful data generation and AI protein engineering platform is already helping the drug discovery industry, and NVIDIA technologies will help power and scale Absci's fully in-silico platform."

About Absci

Absci is the drug and target discovery company harnessing deep learning AI and synthetic biology to expand the therapeutic potential of proteins. We built our Integrated Drug Creation(TM) Platform to identify novel drug targets, discover optimal biotherapeutic candidates, and generate the cell lines to manufacture them in a single efficient process. Biotech and pharma innovators partner with us to create the next generation of protein-based drugs, including Bionic(TM) Proteins containing nonstandard amino acids, and other novel drug designs that may be impossible to make with other technologies. Our goal is to enable the development of better medicines by Translating Ideas into Drugs(TM). For more information visit www.absci.com and follow us on social media: Twitter: @Abscibio, LinkedIn: @absci, and subscribe to our Absci YouTube channel.

Availability of Other Information about Absci

Investors and others should note that we routinely communicate with investors and the public using our website (www.absci.com) and our investor relations website (investors.absci.com), including without limitation, through the posting of investor presentations, SEC filings, press releases, public conference calls and webcasts on these websites. The information that we post on these websites could be deemed to be material information. As a result, investors, the media, and others interested in Absci are encouraged to review this information on a regular basis. The contents of our website, or any other website that may be accessed from our website, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Absci Forward-Looking Statements

Certain statements relating to Absci in this press release that are not historical facts are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements containing the words "will," "aim," "may," "pursues," "anticipates," "plans," "believes," "forecast," "estimates," "expects," and "intends," or similar expressions. We intend these forward-looking statements, including statements regarding research collaboration and technology development efforts and advancements toward in silico drug design, to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, and we make this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies, and prospects, which are based on the information currently available to us and on assumptions we have made. We can give no assurance that the plans, intentions, expectations, or strategies will be attained or achieved, and, furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, risks and uncertainties relating to research collaboration efforts; along with those risks set forth in our most recent periodic report filed with the U.S. Securities and Exchange Commission, as well as discussions of potential risks, uncertainties, and other important factors in our subsequent filings with the U.S. Securities and Exchange Commission. Except as required by law, we assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

Absci Investor Contact

[e-mail]

Absci Media Contact

[e-mail]



https://ml.globenewswire.com/media/8a7eb744-ee7b-4c4b-89cf-387103eed7ab/small/absci-namelogo-png.png

https://ml.globenewswire.com/media/8a7eb744-ee7b-4c4b-89cf-387103eed7ab/small/absci-namelogo-png.png

comtex tracking

[cheynew]

Absci Reports Full Year 2021 Financial and Operating Results

Mar. 22, 2022 4:05 PM ETAbsci Corporation (ABSI)
VANCOUVER, Wash., March 22, 2022 (GLOBE NEWSWIRE) -- Absci Corporation (ABSI), the drug and target discovery company harnessing deep learning AI and synthetic biology to expand the therapeutic potential of proteins, today reported financial and operating results for the quarter and full year ended December 31, 2021.

“Our progress this quarter capped off a remarkable year for Absci from start to finish,” said Sean McClain, Founder and CEO. “In the last few months alone, we announced collaborations with EQRx and Merck including six drug discovery programs in total. And earlier today we shared data around some of our groundbreaking AI models for therapeutic protein design and optimization. These achievements, enabled by our proprietary assay data and platform, advance the state-of-the-art, and we are collaborating with NVIDIA to further develop and scale our in silico models. Our AI and data generation capabilities have generated a robust pipeline of partnering opportunities, and our innovation continues to drive business development discussions. I am inspired by the state of our company today and optimistic about our future, given the opportunities I see ahead of us.”

Recent Highlights

Announced proprietary data-enabled machine learning breakthroughs and validation of in silico lead optimization platform today at NVIDIA GTC.
Initiated collaboration with NVIDIA to scale Absci's in silico drug discovery achievements, enable the most advanced AI paradigms, and accelerate therapeutic protein design.
Entered into research collaboration with Merck for Bionic™ Enzyme generation, and Merck has the option to nominate up to three targets and enter into a drug discovery collaboration.
Successfully executed partnerships representing five Active Programs in 2021 and three of our projected eight new programs so far in 2022.
Appointed Dr. Joseph Sirosh, a renowned leader in the AI field and former CTO of AI at Microsoft, and Dr. Andreas Busch, an experienced pharma R&D executive, to the Board of Directors.
Grew total headcount over the course of 2021 from 75 to 224.
Fourth Quarter 2021 Financial Results

Revenue was $1.5 million for the three months ended December 31, 2021 compared to $2.7 million for the three months ended December 31, 2020.

Research and development expenses were $15.8 million for the fourth quarter of 2021, as compared to $4.6 million for the corresponding prior year period. This increase was primarily driven by additional investments in platform expansion, including data initiatives and AI capabilities.

Selling, general, and administrative expenses were $9.2 million for the fourth quarter of 2021, as compared to $2.4 million for the corresponding prior year period. This increase was primarily due to personnel-related costs and other expenses related to being a publicly traded company.

Net loss was $25.2 million for the fourth quarter of 2021, as compared to $4.9 million for the corresponding prior year period.

Full Year 2021 Financial Results and 2022 Projections

During 2021, Absci executed five Active Programs, consistent with expectations.

Revenue was $4.8 million for the year ended December 31, 2021 compared to $4.8 million for the year ended December 31, 2020.

Research and development expenses were $44.6 million for the year ended December 31, 2021, as compared to $11.4 million for the year ended December 31, 2020. This increase was primarily driven by additional investments in platform expansion, including data initiatives and AI capabilities.

Selling, general, and administrative expenses were $28.8 million for the year ended December 31, 2021, as compared to $5.5 million for the year ended December 31, 2020. This increase was primarily due to personnel-related costs and other expenses related to being a publicly traded company.

Net loss was $101.0 million for the year ended December 31, 2021, as compared to $14.4 million for the year ended December 31, 2020.

Total cash, cash equivalents, and restricted cash as of December 31, 2021 was $279.9 million, of which $252.6 million was unrestricted.

For 2022, Absci expects a net decrease in cash, cash equivalents, and restricted cash of approximately $120 million, which includes one-time, time-based disbursements totaling $10.5 million from restricted cash associated with the Denovium and Totient acquisitions. This projected cash usage also includes approximately $8.3 million of capital expenditures, net of cash proceeds from equipment financing, for completing the build-out of the company's new facility.

Based upon our expectations for net future cash usage, as of December 31, 2021, the company has approximately three years of cash and cash equivalents.

Absci anticipates eight new Active Programs in 2022, three of which result from the agreement executed with Merck.

About Absci

Absci is the drug and target discovery company harnessing deep learning AI and synthetic biology to expand the therapeutic potential of proteins. We built our Integrated Drug Creation™ Platform to identify novel drug targets, discover optimal biotherapeutic candidates, and generate the cell lines to manufacture them in a single efficient process. Biotech and pharma innovators partner with us to create the next generation of protein-based drugs, including those that may be impossible to make with other technologies. Our goal is to enable the development of better medicines by Translating Ideas into Drugs™. For more information visit www.absci.com and follow us on social media: Twitter: @Abscibio, LinkedIn: @absci, and subscribe to our Absci YouTube channel.

Availability of Other Information about Absci

Investors and others should note that we routinely communicate with investors and the public using our website (www.absci.com) and our investor relations website (investors.absci.com), including without limitation, through the posting of investor presentations, SEC filings, press releases, public conference calls and webcasts on these websites. The information that we post on these websites could be deemed to be material information. As a result, investors, the media, and others interested in Absci are encouraged to review this information on a regular basis. The contents of our website, or any other website that may be accessed from our website, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Forward-Looking Statements

Certain statements in this press release that are not historical facts are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements containing the words “will,” “pursues,” “anticipates,” “plans,” “believes,” “forecast,” “estimates,” “expects,” and “intends,” or similar expressions. We intend these forward-looking statements, including statements regarding our expectations regarding business operations, financial performance and results of operations, including our expectations regarding cash, cash equivalents and restricted cash, as well as our projected cash usage and needs, our expectations for the count of new Active Programs, technology development efforts, integrating acquisitions and partnerships, hiring efforts, expanding our platform, our participating at NVIDIA GTC and the subject matter of our presentation at that conference, scientific innovation efforts, drug discovery and development activities, and research and technology development collaboration efforts, to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, and we make this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies, and prospects, which are based on the information currently available to us and on assumptions we have made. We can give no assurance that the plans, intentions, expectations, or strategies will be attained or achieved, and, furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, risks and uncertainties relating to our ability to effectively collaborate on research, drug discovery and development activities with our partners or potential partners; along with those risks set forth in our most recent periodic report filed with the U.S. Securities and Exchange Commission, as well as discussions of potential risks, uncertainties, and other important factors in our subsequent filings with the U.S. Securities and Exchange Commission. Except as required by law, we assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Contact:

[e-mail]

Media Contact:

[e-mail]

[cheynew]

Absci Appoints Dr. Andreas Busch to Board of Directors
Dr. Busch brings deep operational expertise in drug discovery to Absci’s Board
March 21, 2022 16:05 ET | Source: Absci Corp

VANCOUVER, Wash., March 21, 2022 (GLOBE NEWSWIRE) -- Absci Corporation (Nasdaq: ABSI), the drug and target discovery company harnessing deep learning AI and synthetic biology to expand the therapeutic potential of proteins, today announced the appointment of Andreas Busch, PhD, to its Board of Directors. Dr. Busch is the former EVP and Chief Scientific Officer at Shire Plc and Head of Drug Discovery at Bayer and is currently Chief Scientific Officer at Cyclerion Therapeutics, Inc. He brings over twenty years of pharmaceutical industry executive experience in drug discovery R&D leadership positions.

“I’m excited to have Dr. Busch join Absci’s board and to be able to leverage his deep expertise as we continue to revolutionize the biologic drug discovery and development paradigm,” said Sean McClain, founder & CEO of Absci. “Dr. Busch’s appointment is timely as we advance our drug discovery technologies and reach key milestones in pursuit of our vision for fully in-silico design of therapeutic proteins.”

“Absci has a unique and powerful combination of cutting-edge AI and synthetic biology technologies that synergize to enable identification of promising drug candidates with extraordinary efficiency,” said Dr. Busch. “I look forward to helping Absci apply its platform to achieve our shared goal of bringing better drugs to patients faster.”

Previously, Dr. Busch served as Executive Vice President, Head of Research & Development and Chief Scientific Officer at Shire Plc. Prior to joining Shire, he held several senior leadership positions in his 13-year tenure at Bayer group, most recently as Executive Vice President and Head of Global Drug Discovery. Earlier in his career, Dr. Busch was Global Head of Cardiovascular Research at Hoechst and Sanofi-Aventis. Dr. Busch has served as a member of numerous Supervisory and Scientific Boards of research institutions and companies, including the German Cancer Research Center, the University of Tübingen, the Max Delbrück Center, and the Max Planck Institute of Molecular Genetics, as well as Takeda and start-up companies, such as Omeicos and BerlinCures. He also holds the title of Extraordinary Professor of Pharmacology at the Johann Wolfgang Goethe-University in Frankfurt, Germany. Dr. Busch received his license to practice Pharmacy and PhD in Pharmacology from the Johann-Wolfgang-Goethe-University, Frankfurt. He is the author of over 400 publications and abstracts, and he received the prestigious Sir Bernard Katz and Franz Volhard Awards for his work on renal and cardiac ion channels and transporters.

About Absci

Absci is the drug and target discovery company harnessing deep learning AI and synthetic biology to expand the therapeutic potential of proteins. We built our Integrated Drug Creation™ Platform to identify novel drug targets, discover optimal biotherapeutic candidates, and generate the cell lines to manufacture them in a single efficient process. Biotech and pharma innovators partner with us to create the next generation of protein-based drugs, including Bionic™ Proteins containing nonstandard amino acids, and other novel drug designs that may be impossible to make with other technologies. Our goal is to enable the development of better medicines by Translating Ideas into Drugs™. For more information visit www.absci.com and follow us on social media: Twitter: @Abscibio, LinkedIn: @absci, and subscribe to our Absci YouTube channel.

Availability of Other Information about Absci

Investors and others should note that we routinely communicate with investors and the public using our website (www.absci.com) and our investor relations website (investors.absci.com), including without limitation, through the posting of investor presentations, SEC filings, press releases, public conference calls and webcasts on these websites. The information that we post on these websites could be deemed to be material information. As a result, investors, the media, and others interested in Absci are encouraged to review this information on a regular basis. The contents of our website, or any other website that may be accessed from our website, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.



Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On March 17, 2022, the Board of Directors (the “Board”) of Absci Corporation (the “Company”), upon the recommendation of the Nominating and Corporate Governance Committee of the Board, appointed Dr. Andreas Busch to the Board effective that same date. Simultaneously with Dr. Busch’s appointment, the size of the Board was fixed at eight (8) directors and a third director position was added among the Class II directors. Dr. Busch will serve as a Class II director of the Company, to hold office until the Company’s 2023 annual meeting of stockholders or until his earlier resignation, death, or removal. Upon his appointment, Dr. Busch was also appointed to serve on the Nominating and Corporate Governance Committee of the Board.

Pursuant to the Company’s Non-Employee Director Compensation Policy (the “Policy”), the Board granted Dr. Busch an initial option to purchase 45,180 shares of the Company’s common stock at an exercise price of $8.87, the closing market price on the NASDAQ Global Select Market of the Company’s common stock on March 17, 2022, the date of grant (the “Option Grant”). The Option Grant will vest in equal monthly installments over three (3) years from the date of grant, provided, however that all vesting shall cease if Dr. Busch resigns from the Board or otherwise ceases to serve as a director, unless the Board determines that the circumstances warrant continuation of vesting. The Option Grant shall become fully vested and exercisable upon a “Sale Event” (as such term is defined in the Company’s 2021 Stock Option and Incentive Plan). Dr. Busch will also receive an annual $45,000 cash retainer for his services on the Board and Nominating and Corporate Governance Committee pursuant to the Policy.

Dr. Busch has entered into the Company’s standard form of indemnification agreement, which is filed as Exhibit 10.8 to the Company’s Registration Statement on Form S-1 filed on July 20, 2021. There are no arrangements or understandings between Dr. Busch and any other person pursuant to which Dr. Busch was appointed as a member of the Board. There are no family relationships between Dr. Busch, on the one hand, and any director, executive officer or any other person nominated or chosen by the Company to become a director or executive officer, on the other. There are no transactions or relationships between the Company and Dr. Busch that are reportable pursuant to Item 404(a) of Regulation S-K.

[KeepOn]

What's next?

[PennyPusher786]

Yeah, very obvious... sometimes I feel like one might as well stick to OTC and wait for a 10x to 100x run whether it takes years or months instead of dealing with this stupid nonsense in Nasdaq

[Welsh_Dragon]

What a buy off the baseless shorting.

[crudeoil24]

Absci Announces Research Collaboration with Merck; Absci Eligible to Receive up to $610M in Upfront Fees and Milestone Payments Plus Royalties
5:07 am ET January 7, 2022 (Benzinga) Print
Absci Corporation (Nasdaq: ABSI), the drug and target discovery company harnessing deep learning AI and synthetic biology to expand the therapeutic potential of proteins, today announced that it has entered into a research collaboration with Merck (known as MSD outside the United States and Canada), using Absci's AI-powered Integrated Drug Creation™ Platform.

Under the collaboration, Absci will deploy its Bionic Protein™ non-standard amino acid technology to produce enzymes tailored to Merck's biomanufacturing applications and receive an upfront and certain other milestone payments. In addition, Merck has the option to nominate up to three targets and enter into a drug discovery collaboration agreement, and Absci would then be eligible to receive up to $610 million in upfront fees and milestone payments for all three targets, as well as research funding and tiered royalties on sales.

Sean McClain, founder and CEO of Absci, commented, "We are very pleased to establish this collaboration with Merck and to be working with its world class research organization to generate novel enzymes. We look forward to applying our AI-driven platform to create new biologic candidates with the potential to meaningfully improve the lives of patients."

"At Merck we are continually evaluating new ways to build, expand and refine our biologics capabilities," said Dr. Fiona Marshall, senior vice president and head of discovery, preclinical and translation medicine, Merck Research Laboratories. "Absci's platform offers a compelling opportunity to design new biologic candidates and explore the expression of complex proteins."

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

[crudeoil24]

Biotech Stocks Hitting 52-week Highs Aug. 2)

Absci, CORP (NASDAQ: ABSI) (IPOed July 22)
Alkermes plc (NASDAQ: ALKS) (received fast track designation for nemvaleukin alfa for the treatment of mucosal melanoma)
AtriCure, Inc. (NASDAQ: ATRC)
Axonics, Inc. (NASDAQ: AXNX)
Bio-Rad Laboratories, Inc. (NYSE: BIO)
BioNTech SE (NASDAQ: BNTX)
Boston Scientific Corporation (NYSE: BSX)
Cytek Biosciences, Inc. (NASDAQ: CTKB) (IPOed July 23)
Imago BioSciences, Inc. (NASDAQ: IMGO) (IPOed July 16)
Innoviva, Inc. (NASDAQ: INVA)
Intuitive Surgical, Inc. (NASDAQ: ISRG)
Misonix, Inc. (NASDAQ: MSON)
Moderna, Inc. (NASDAQ: MRNA)
Monte Rosa Therapeutics, Inc. (NASDAQ: GLUE)
Novo Nordisk A/S (NYSE: NVO)
Nuvalent, Inc. (NASDAQ: NUVL) (IPOed Thursday)
Pfizer Inc. (NYSE: PFE)
Protagonist Therapeutics, Inc. (NASDAQ: PTGX)
Quest Diagnostics Incorporated (NYSE: DGX)
Repligen Corporation (NASDAQ: RGEN)
Sight Sciences, Inc. (NASDAQ: SGHT) (IPOed July 15)
West Pharmaceutical Services, Inc. (NYSE: WST)

[crudeoil24]

Each session > 52 week new highs.

ABSI

[crudeoil24]

Biotech and pharma innovators partner with us to develop new protein-based drugs, including those that may be impossible to make with other technologies. Our goal is to enable the creation of better medicines by Translating Ideas into DrugsTM.

[crudeoil24]

ABSI > 52 week high > 29.21 > yesterday July 29, 2021.

[crudeoil24]

Recent IPO > Absci Corporation, formerly AbSci LLC, is a synthetic biology company. The Company with its artificial intelligence (AI)-powered integrated drug creation platform enables the creation of protein-based drugs (biologics) by unifying biologic drug discovery and cell line development processes into one process. It uses synthetic biology technologies and deep learning AI to predict, identify, design, construct, screen, select and scale production of biologic drug candidates, and learn from the data it generates. The Company has drug candidates in approximately nine active programs, eight of the active programs are focused on developing production cell lines for drug candidates. It has one discovery program, focused on lead optimization with Astellas. Its active programs include Bispecific mAb, Bispecific T-cell engager, Cytokine, Fab, Multivalent Fc-fusion, Plasma protein and mAb.

[mAjOr dAmAgE]

Make this trade.

[mAjOr dAmAgE]

Brokers still not letter orders in.

[mAjOr dAmAgE]

Anything other broker showing this as trading?

[mAjOr dAmAgE]

anyone able to trade this?

[mAjOr dAmAgE]

Did you learn anything about this one?

Rumor is shell is for sale, I can't get confirmation on that.

[odiaz28]

ill look into it.......