Absci

Absci shares rallied sharply during today's regular session, fueled by positive interim Phase 1 data for its hair loss drug ABS-201 and a $100 million private placement involving Eli Lilly and other strategic investors. The stock opened around $11.53 before surging to an intraday high of $11.67, closing up roughly 5.1%. While Q1 revenue plunged 81.76% year-over-year to just $215,000 and net loss was -$29.6 million, EPS of -$0.1935 narrowed 8.59% from a year ago, which alongside clinical momentum supported the move. The stock now trades well above its 20-day ($8.42) and 60-day ($6.00) moving averages, sits just 3.11% below its 52-week high of $12.055, and has gained 223.55% year-to-date. However, with a price-to-book ratio of 11.5 and still-negative net margins, the elevated valuation will require sustained clinical and commercial proof points.