Absci Sits Squarely at the Corner of AI and Consumer Biotech Trends; ABS-201 Is Potentially the GLP-1 Moment for Hair Loss. Initiate at BUY with a $9 Price Target

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Absci Sits Squarely at the Corner of AI and Consumer Biotech Trends; ABS-201 Is Potentially the GLP-1 Moment for Hair Loss. Initiate at BUY with a $9 Price Target

May 28, 2026 Absci Corporation

(ABSI, Buy, $9 PT)

Kambiz Yazdi

Absci Sits Squarely at the Corner of AI and Consumer Biotech Trends; (212) 588-6580 kyazdi@btig.com

ABS-201 Is Potentially the GLP-1 Moment for Hair Loss. Initiate at BUY Company Data

with a $9 Price Target Closing Price $5.16

Price Target $9.00BIOTECHNOLOGY WHAT YOU SHOULD KNOW: Absci Corporation is a clinical-stage biotechnology Market Cap (M) $789.48

company that integrates generative AI and high-throughput biology to design novel

Shares Out (M) 153.00 protein therapeutics. The company's proprietary platform creates and optimizes

antibodies, underpinning a pipeline of internal and partnered drug candidates. Lead Avg Daily Vol-3 Months (M) 4.47EQUITY internal candidate ABS-201 (PRLR antagonist) is in Ph1/2a for androgenetic alopecia Revisions

(AGA) and advancing into endometriosis. We project $2.2B in peak sales for ABS-201 Previous Current

across AGA and endometriosis and initiate at BUY with a $9 price target. Rating - Buy

■ Absci's AI platform is a genuine technological moat. Absci has built an advanced Price Target - $9.00

end-to-end generative AI antibody platform. Its fully integrated 77,000 sq ft FY26E EPS - (0.78)

automated wet lab compresses concept-to-lead timelines to ~24 months. EachRESEARCH FY27E EPS - (0.74) design-test cycle feeds a proprietary data lake that compounds in value with FY26E REV - 0.21

every program, creating a self-reinforcing moat that peers cannot easily replicate.

Origin-1, Absci's next-generation generative AI platform, designs full-length human FY27E REV - 0.00

antibodies against zero-prior epitopes. EPS (GAAP)