AbSci (ABSI) has received a new Buy rating, initiated by TD Cowen analyst, Brendan Smith.
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Brendan Smith has given his Buy rating due to a combination of factors that highlight AbSci’s promising clinical advancements and strategic positioning. The initiation of Phase 1 trials for ABS-101 in irritable bowel disease (IBD) is a significant milestone, with initial safety and pharmacokinetic/pharmacodynamic data expected in the second half of 2025. This data will provide crucial insights into the drug’s competitive stance, particularly in terms of dosing intervals and immunogenicity, which have historically been challenging for similar drug candidates.
Additionally, AbSci’s new preclinical data for ABS-201 in the alopecia market shows a promising extended half-life compared to competitors, suggesting a potentially advantageous dosing schedule. These clinical developments, supported by a solid cash runway into the first half of 2027, position AbSci well in the market. The company’s strategic focus on leveraging its AI platform and securing potential licensing partners further strengthens its growth prospects, justifying the Buy rating.