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ABSI - Absci continues slide following yesterday's earnings miss; shares down 14%
Absci Corporation
Shares of Absci (ABSI -14.5%) are continuing to slide following yesterday's Q3 2021 earnings miss. Shares closed down 21% yesterday. Absci's Q3 net loss nearly quadrupled to ~$10.7M year over year, driven by increases in R&D and SG&A expenses. Last month, Absci and EQRx entered into a discovery collaboration using Absci's Drug Creation technology to develop next-generation, protein-based therapeutics.