Absci Reports Data From Trial for Hair-Loss Treatment, Prices $100 Million Stock Offering
By Connor Hart
Absci on Wednesday disclosed what it called positive data from an ongoing, early-stage trial of its investigational treatment for hair loss.
The biopharmaceutical company, which uses generative artificial intelligence to design its therapeutics, separately priced a $100 million underwritten stock offering, with participation from what it called leading strategic and financial investors.
Shares climbed 22%, to $9.07, in premarket trading. Through Tuesday's close, the stock has more than doubled in value since the beginning of the year.
Absci said its therapy, ABS-201, was well tolerated and exhibited a favorable safety profile during a recent trial in patients with and without androgenetic alopecia, commonly known as male- or female-pattern hair loss.
No serious adverse events were reported, the company added.
"We are particularly encouraged by the emerging safety, pharmacokinetic, and immunogenicity profile observed to date," Chief Medical Officer Ransi Somaratne said.
Looking ahead, Absci aims to further characterize the drug's clinical profile and potential, as well as to investigate its use cases for other ailments including endometriosis, he added.
Androgenetic alopecia affects approximately 80 million Americans, causing crown balding and receding hairlines in men, and progressive hair thinning in women. ABS-201 represents a novel therapeutic approach, targeting prolactin receptors to stimulate hair follicle regeneration and promote durable hair regrowth, Absci said.
Absci said it will use proceeds from its $100 million stock offering to fund the advancement of ABS-201. In the offering, the company will sell roughly 13.5 million shares of its common stock for $7.41 apiece.
The financing includes participation from Eli Lilly & Co., as well as financial institutions including Adage, BVF Partners, Columbia Threadneedle, Invus and Redmile.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
June 24, 2026 07:35 ET (11:35 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Companies to Invest in Now
The 10 Best Dividend Stocks
United States