Absci Corporation (NASDAQ:ABSI) stock is trading higher on Wednesday after the company reported positive interim Phase 1 results for its investigational anti-prolactin receptor antibody, ABS-201, while also pricing a $100 million underwritten stock offering to support continued development of the program.
ABS-201 Shows Favorable Safety And Pharmacokinetic Profile
The clinical-stage biopharmaceutical company said the early-stage trial findings demonstrated a favorable safety, pharmacokinetic, and immunogenicity profile for ABS-201, supporting further evaluation in androgenetic alopecia (AGA) and endometriosis.
Somaratne added that the company plans to continue evaluating ABS-201 in the ongoing multiple ascending dose, or MAD, portion of the HEADLINE study in AGA patients and intends to begin a Phase 2 trial in endometriosis later this year.
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