🟢 ABSI is trading 5.8% up today after $100M Eli Lilly-backed stock offering

ABSI is trading 5.8% up at $10.66 in pre-market action following strong demand for a $100 million underwritten stock offering.

• The offering, priced at $7.41 per share, saw significant participation from Eli Lilly and leading institutional investors, bolstering the company's funding runway.
• The move extends a 36% surge from Wednesday triggered by positive early clinical data for ABS-201, Absci's AI-designed hair loss drug candidate.
• The successful capital raise reinforces market confidence in the company’s AI-driven drug discovery platform and its ability to attract major pharmaceutical partners.