ABSI - Absci GAAP EPS of -$0.33 misses by $0.04 revenue of $0.82M misses by $1.04M

Absci press release (NASDAQ:ABSI): Q1 GAAP EPS of -$0.33 misses by $0.04. Revenue of $0.82M (-22.6% Y/Y) misses by $1.04M. Cash and cash equivalents as of March 31, 2022 was $226.0 million, as compared to $252.6 million as of December 31, 2021, representing sufficient cash and cash equivalents to fund our operations through the end of 2024. 2022 Outlook: Absci reiterates its guidance to add at least eight new Active Programs for 2022, representing 60% year-over-year growth. Absci maintains its full year 2022 guidance of expecting a net decrease in cash, cash equivalents, and restricted cash of approximately $120 million, which includes one-time, time-based disbursements totaling $10.5 million from restricted cash associated with the Denovium and Totient acquisitions.

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Absci GAAP EPS of -$0.33 misses by $0.04, revenue of $0.82M misses by $1.04M