ABSI - Absci up as much as 37% after saying it has enough cash to operate through 2025
- Absci Corp ( NASDAQ: ABSI ) shares r ose as much as 37% in Thursday trading despite reporting Q2 financial results that missed on the top and bottom lines .
- In afternoon trading, shares are up 16% .
- However, the company noted that a strategic reorganization it has undergone has extended its cash runway into late 2025.
- Also, the drug and target discovery company signed 10 programs year to date, surpassing annual program guidance. Absci ( ABSI ) currently has 19 active programs.
- Truist analyst Robyn Karnauskas, who has a buy rating on shares, upped her price target to $10 from $8 (~138% upside based on Wednesday's close).
- Seeking Alpha's Quant Rating views Absci ( ABSI ) as a sell.
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Absci up as much as 37% after saying it has enough cash to operate through 2025