InvestmentJun 24, 2026, 06:36 AM
Absci Raises $100M in Stock Offering with Eli Lilly Participation
AI Summary
Absci Corporation announced an underwritten offering of 13,495,277 shares of its common stock at a price of $7.41 per share, expecting to raise approximately $100 million in gross proceeds. The financing saw participation from Eli Lilly & Company and other leading financial institutions. The net proceeds will be used to advance Absci's AI-designed anti-PRLR antibody program, ABS-201, for androgenetic alopecia and endometriosis, as well as for working capital and general corporate purposes.
Key Highlights
- Raised approximately $100 million in gross proceeds from the offering.
- Offered 13,495,277 shares of common stock.
- Shares priced at $7.41 per share.
- Eli Lilly & Company participated in the financing.
- Proceeds to fund ABS-201 program for androgenetic alopecia and endometriosis.
- Offering expected to close on or about June 25, 2026.
Price Impact
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