InvestmentJun 24, 2026, 04:38 PM
Absci Prices $100M Underwritten Offering; Eli Lilly Participates
AI Summary
Absci Corporation priced an underwritten offering of 13,495,277 shares of its common stock at $7.41 per share, expecting to raise approximately $100 million in gross proceeds. The estimated net proceeds of about $93.5 million will fund the advancement of its AI-designed anti-PRLR antibody product candidate, ABS-201, for androgenetic alopecia and endometriosis, as well as for general corporate purposes. The offering saw participation from strategic and financial investors including Eli Lilly & Company, Adage, BVF Partners, Columbia Threadneedle, Invus, and Redmile.
Key Highlights
- Priced underwritten offering of 13,495,277 shares of common stock.
- Offering price set at $7.41 per share.
- Expected gross proceeds of approximately $100 million.
- Estimated net proceeds of approximately $93.5 million.
- Proceeds to fund advancement of ABS-201 for hair loss and endometriosis.
- Eli Lilly & Company participated in the financing.
- Offering expected to close on June 25, 2026.
Price Impact
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