12 Best Biotech Penny Stocks To Invest In Now

9. Absci Corporation (NASDAQ:ABSI)

Number of Hedge Fund Investors: 20

Stock Price as of December 26: $3.01

Absci Corporation (NASDAQ:ABSI) is a leading biotechnology company revolutionizing the drug discovery and development process through the integration of artificial intelligence (AI) and synthetic biology. The company has developed a proprietary platform that combines AI-driven design with advanced protein engineering and manufacturing capabilities. This integrated approach allows the company to rapidly identify and develop high-quality therapeutic candidates, from initial concepts to clinical trials. Absci Corporation’s (NASDAQ:ABSI) innovative technology has attracted partnerships with some of the world’s leading pharmaceutical and biotech organizations, including AstraZeneca, Merck, Almirall, and Twist Bioscience.

Absci Corporation (NASDAQ:ABSI) is focusing on advancing three of its wholly owned proprietary programs. The company’s lead asset, ABS-101, is a potential best-in-class TL1A antibody designed to treat inflammatory diseases. The company is currently conducting further studies and plans to initiate Phase I clinical trials in the first half of 2025. Another promising program, ABS-201, targets a dermatological indication with a significant unmet need. Absci Corporation (NASDAQ:ABSI) is on track to select a development candidate for this program by the end of 2024 and plans to present a preclinical data package at its upcoming R&D Day. The company’s third proprietary program, ABS-301, is a first-in-class immune-oncology antibody designed to bind to a novel target discovered through the company’s reverse immunology platform. Absci Corporation (NASDAQ:ABSI) anticipates completing mode-of-action validation studies for ABS-301 in the first half of 2025 and sharing data shortly thereafter.

One of the key strategies Absci Corporation (NASDAQ:ABSI) is employing to grow its business is through strategic partnerships with industry leaders. These collaborations leverage the strengths of both parties to accelerate the development of novel therapeutics. For example, the company’s partnership with AstraZeneca focuses on the discovery of an AI-designed antibody against an oncology target. Additionally, Absci Corporation’s (NASDAQ:ABSI) recent partnership with Twist Bioscience brings together Absci’s Generative AI capabilities with Twist’s DNA synthesis platform, further enhancing the company’s ability to design and test novel therapeutic candidates.

Absci Corporation (NASDAQ:ABSI) is also investing in research and development to advance its proprietary programs and partnered projects. Additionally, the company is actively seeking new partnerships and is on track to sign two more collaborations that will further diversify its revenue streams and enhance its pipeline.