Absci Reports Q2 2026 Financial Results with Increased R&D Spending and Strategic Investment from Eli Lilly
Absci (ABSI) reported financial results for its second-quarter fiscal year 2026, showing a revenue decline to $0.3 million compared to $0.6 million in the same period of 2025 due to fluctuations in partner program milestones. The company increased research and development expenses to $22.6 million as it advanced clinical programs for ABS-201. Net loss widened slightly to $33.2 million, or $0.21 per share, compared to a net loss of $30.6 million the previous year. Absci's cash and marketable securities rose significantly from $125.7 million in March 2026 to $201.1 million by June 2026 due to a recent financing round that raised $93.6 million, including a strategic investment of $40 million from Eli Lilly for the development of ABS-201 in endometriosis. The company expects its operating cash runway to last until at least mid-2028. Key clinical updates include interim pharmacokinetic data showing an estimated half-life of 65 days for ABS-201, with a target dosing interval of two to three doses over six months. Phase II trials in endometriosis are expected to begin by the fourth quarter of 2026.
