Month: March 2025

Unveiled updates across proprietary pipeline and demonstrated new breakthroughs by AI platform at 2024 R&D Day Entered into collaboration with AMD, including $20 million strategic investment in Absci Achieved 2024 outlook for drug creation partnerships through collaborations with Owkin, Twist Bioscience, Invetx, and Memorial Sloan Kettering Cancer Center Cash, cash equivalents, and short-term investments sufficient to fund operations into the first half of 2027 VANCOUVER, Wash. and NEW YORK, March 18, 2025 (GLOBE NEWSWIRE) — Absci Corporation (Nasdaq: ABSI), a data-first generative AI drug creation company, today reported financial and operating results for the quarter and full year ended December 31, 2024. “Looking back on 2024, it is inspiring to see the significant progress our AI Integrated Drug Creation platform...

Pivotal Phase 3 OPERA-01 trial of palazestrant as a monotherapy in patients with 2/3L metastatic breast cancer on track for top-line data in 2026 Pivotal Phase 3 OPERA-02 trial of palazestrant in combination with ribociclib in patients with frontline metastatic breast cancer enabled by new Novartis collaboration and $250 million equity private placement; trial on track for initiation this year Promising updated results from the ongoing Phase 1b/2 study of palazestrant in combination with ribociclib in patients with ER+/HER2- advanced or metastatic breast cancer presented at SABCS in December 2024; updated mPFS presented at the TD Cowen Health Care Conference in March 2025; mature data expected to be presented this year at a major medical meeting OP-3136 Phase 1 trial initiated before the end of 2024; patients now enrolling Ended 2024...

SAN MATEO, Calif., and CAMBRIDGE, Mass., March 18, 2025 (GLOBE NEWSWIRE) — Kronos Bio, Inc. (Nasdaq: KRON), a biopharmaceutical company, today reported fourth quarter and full year 2024 financial results. Fourth Quarter and Full Year 2024 Financial ResultsCash, cash equivalents and investments: Cash, cash equivalents and investments as of December 31, 2024, were $112.4 million. R&D Expenses: Research and development expenses were $8.4 million for the fourth quarter of 2024, which includes non-cash stock-based compensation expense of $0.7 million. For the full year of 2024, research and development expenses were $48.7 million, which includes non-cash stock-based compensation expense of $3.4 million. G&A Expenses: General and administrative expenses were $4.9 million for the fourth quarter of 2024, which includes non-cash...

Highlights of the fiscal year include:Revenue of $1.20 billion, an increase of 20% compared to $999.6 million in FY24. Net income of $96.7 million, an increase of 74% compared to $55.7 million in FY24, with non-GAAP net income of $277.3 million, an increase of 42% compared to $195.5 million in FY24. Net income per diluted share of $1.09, an increase of 70% compared to $0.64 in FY24, with non-GAAP net income per diluted share of $3.12, an increase of 39% compared to $2.25 in FY24. Adjusted EBITDA of $471.8 million, an increase of 28% compared to $369.2 million in FY24. 9.9 million HSAs, an increase of 14% compared to FY24. Total HSA Assets of $32.1 billion, an increase of 27% compared to FY24. 17.0 million Total Accounts, including both HSAs and complementary CDBs, an increase of 9% compared to FY24. The Company completed its acquisition...