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Absci Corp (NASDAQ:ABSI), a $339 million market cap biotechnology company trading at $2.65 per share, announced Monday the appointment of Mary Szela to its board of directors, effective the same day. According to InvestingPro data, the company maintains a FAIR financial health score, with two key advantages: strong liquidity and a solid cash position exceeding its debt obligations. The board’s size was set at seven members with the addition of a third director position among the Class III directors. Ms. Szela will serve as a Class III director until the company’s 2027 annual meeting of stockholders or until her earlier resignation, death, or removal. InvestingPro analysis reveals the company faces challenges with cash burn and profitability, making strong board oversight particularly crucial.
Ms. Szela currently serves as CEO, president, and director of Trisalus Life Sciences. According to the company’s non-employee director compensation policy, she will receive an initial option to purchase 178,400 shares of Absci common stock. The exercise price will be equal to the closing market price of the company’s common stock on the NASDAQ Global Select Market on the grant date, July 7, 2025. The stock option will vest in equal monthly installments over three years, provided Ms. Szela continues to serve as a director. All options will become fully vested and exercisable upon a "Sale Event" as defined in Absci’s 2021 Stock Option and Incentive Plan. Additionally, Ms. Szela will receive an annual cash retainer of $40,000 for her board service.
The company stated that Ms. Szela will enter into Absci’s standard form of indemnification agreement. There are no arrangements or understandings between Ms. Szela and any other person regarding her appointment, and there are no family relationships or reportable transactions between Ms. Szela and the company.
This information is based on a press release statement filed with the Securities and Exchange Commission. Investors tracking Absci should note that the company’s next earnings report is scheduled for August 19, 2025. InvestingPro subscribers have access to detailed financial analysis, including 7 additional ProTips and comprehensive valuation metrics in the Pro Research Report.
In other recent news, Absci Corporation reported its Q1 2025 earnings, revealing a revenue of $1.2 million and a significant increase in research and development expenses. The company has transitioned into a clinical-stage biotech entity, marked by the initiation of its first-in-human clinical trial for ABS-101. This development aligns with Absci’s strategic focus on AI-driven drug discovery and potential partnerships with pharmaceutical companies. Morgan Stanley (NYSE:MS) has initiated coverage on Absci with an Overweight rating, citing the company’s lead asset, TL1A monoclonal antibody ABS-101, as a potential value inflection point. The firm highlighted ongoing discussions with three companies for potential partnerships that could provide non-dilutive capital. Additionally, Absci appointed Mary Szela to its Board of Directors, bringing her extensive experience from Abbott Laboratories (NYSE:ABT) and other biopharmaceutical firms. Meanwhile, iRhythm Technologies announced changes to its board, with the retirement of two directors and the appointment of Karen McGinnis and Kevin O’Boyle. These developments reflect both companies’ ongoing efforts to strengthen their leadership and strategic direction in the healthcare and biotechnology sectors.
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