Absci Shares Surge on J.P. Morgan 'Buy' Rating Ahead of Key ABS-101 Trial Readout
Absci (NASDAQ:ABSI) shares surged following a positive review from J.P. Morgan, which initiated coverage with a 'Buy' recommendation. The biotech company's lead asset, ABS-101, is set for a key trial readout this year.
Absci's lead asset, ABS-101, is expected to reveal interim data from a Phase 1 first-in-human study before the year's end. This trial is a crucial early-stage test for the biotech company's platform. The target, TL1A, is considered attractive for collaborations, potentially helping Absci secure partnerships in the future. Despite no specific collaborations being mentioned, the positive trial outlook and target potential have driven investor confidence in Absci's shares.
Absci's shares traded higher following J.P. Morgan's 'Buy' recommendation. The company's lead asset, ABS-101, is poised for a significant trial readout this year, which could open doors to collaborations and further growth.
