Absci Corporation

Ladies and gentlemen, thank you for standing by. Welcome to Abcide's second quarter 2025 business update call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to turn the conference over to Alex Khan, Vice President, Finance and Investor Relations. Please go ahead.

Thank you. Earlier today, Abcide released financial and operating results for the quarter ended June 30, 2025. If you haven't received this news release or if you would like to be added to the company's distribution list, please send an email to investors at Abcide.com. An archived webcast of this call will be available for replay on Abcide's investor relations website at investors.abcide.com for at least 90 days after this call. Joining me today are Sean McLean, Abcide's founder and CEO, and Zach Jonasen, Chief Financial Officer and Chief Business Officer. Christian Stegman, Abcide's SVP of Drug Creation, will also be joined for Q&A following prepared remarks. Before we begin, I'd like to remind you the manager will make statements during this call that are forward-looking within the meaning of the federal securities laws. These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated, and you should not place undue reliance on forward-looking statements. Additional information regarding these risks, uncertainties, and factors that could cause results to differ appears in the section titled Forward-Looking Statements in the Press Release ABSAI Issue Today and the documents or reports filed by ABSAI from time to time with the Securities and Exchange Commission. Except as required by law, AppSite disclaims any intention or obligation to update or revise any financial or product pipeline projections or other forward-looking statements, either because of new information, future events, or otherwise. This conference call contains time-sensitive information and is accurate only as of the live broadcast, August 12, 2025. With that, I'll turn the call over to Sean.

Thanks, Alex. Good afternoon, everyone. Thank you for joining our Q2 2025 business update call. The last few months have been very productive for Abcide as we continue to execute across all aspects of our business. In May, we initiated phase one clinical trials for ABS-101, a potential best-in-class anti-TO1 antibody. This ongoing study is designed to evaluate safety, tolerability, pharmacokinetics, and pharmacodynamics of this program. We continue to see tremendous value in the potentially differentiated profile of this molecule, and I expect to report interim results later this year from this ongoing study in Australia. We also continue to make progress in a potentially first-in-class bispecific antibody that leverages ABS-101 in conjunction with a novel arm. We are pleased to share that interest from potential partners regarding our TL1A antibody, as well as our potential bispecific program, remain very strong. While ABS-101 advances through the clinic, we are excited to have our second program, ABS-201, accelerating towards the clinic too. As a reminder, ABS-201 is our innovative anti-prolactin receptor antibody for androgenetic alopecia, commonly known as male and female pattern hair loss. This condition affects approximately 80 million adults in the U.S. alone, and there has not been significant therapeutic innovation in this area for nearly 30 years. With our program, ABS-201 represents a potential new category of therapy for androgenetic alopecia, which we believe could offer durable, effective hair regrowth. In preclinical studies, ABS-201 demonstrates evidence of high potency, favorable safety, low immunogenicity, extended half-life, and great manufacturability. ABS-201 is designed to offer significant improvements as compared to current treatments, such as minoxidil and finasteride. Those treatments are well-known variable or limited efficacy, and in some cases, serious side effects. We continue to rapidly advance this program towards the clinic, guided by a network of distinguished hair and dermatology experts across the globe. We anticipate initiation of a Phase I QA trial in early 26 with potential interim efficacy and proof of concept data anticipated later that year. We plan to develop ABS-201 internally through later stage clinical development and proof of concept to realize maximum value, given its potentially promising profile, defined development path, and large market. As a reminder, we also continue to progress on several additional programs. ABS-301, this is a potential first-in-class antibody targeting an undisclosed immuno-oncology target identified through a reverse immunology platform. Early data indicate potential broad applicability, squamous cell, carcinoma, and other indications. ABS501. This is a potential best-in-class anti HER2 antibody identified using our zero-shot de novo AI models. These AI design leads displayed novel epitope interactions, increased or equivalent potency to trastuzumab in preclinical settings, efficacy against a trastuzumab-resistant xenograft tumor, and good developability. Beyond all these programs, we have a number of exciting early-stage programs in our pipeline we have not yet revealed. As a demonstration of the power of our platform's differentiate capabilities, many of these programs are designed to go after traditionally difficult-to-drug targets such as GPCRs and ion channels. We look forward to sharing additional information on these at a later date. While we make progress Across our portfolio, we continue to advance our AI integrated drug creation platform, which enables our pipeline of assets and programs and offers differentiated value proposition for potential drug creation partners. Our integrated wet lab and AI approach allows us to generate scalable high-quality data to train our models. We have built a team of world-class AI researchers who harness this data along with industry-leading compute to rapidly validate iterate on, and optimize our models. As a reminder, earlier this year, AMD made a $20 million strategic investment in Abcide, reflecting their conviction in the potential of our AI-driven drug creation platform. Our collaboration continues to advance, and AMD computes solutions supporting key workloads across our antibody design platform. We will continue to share key updates to this strategic collaboration in the future as they occur. As Zach will discuss further in detail, last month we took action to further strengthen our balance sheet. In July, we raised approximately $64 million in gross proceeds through a $50 million underwritten public offering and $14 million from one premier investment firm utilizing our at-the-market facility. We're grateful for all of the investors, new and existing, that have continued to support our mission. With that, I'll now turn the call over to Zach to walk through our partnerships, our outlook, and provide an update on our financials. Zach?