🟢 ABSI is trading 44% up today after positive Phase 1 data for AI-designed hair-loss drug and $100M offering

ABSI is trading 44% up today at $10.68 after reporting positive interim Phase 1 safety data for its AI-designed hair-loss antibody, ABS-201, and announcing a $100 million underwritten stock offering.

• The Phase 1 trial demonstrated that ABS-201 was well-tolerated with a favorable safety profile and no serious adverse events.
• The $100 million equity raise includes participation from major strategic and financial investors, with proceeds intended to fund the further development of the program.