What Absci Corp. told the SEC could break it.

Absci operates primarily through a single facility — its 77,974-square-foot corporate headquarters and primary R&D/lab in Vancouver, Washington — so if that facility is damaged, rendered inoperable or has to be vacated due to fire, earthquake, power loss, or other catastrophic events, its ability to conduct drug-creation and internal R&D could be jeopardized.

“We currently operate primarily through a single facility located in Vancouver, Washington. Our facility and equipment could be harmed or rendered inoperable or inaccessible by natural or man-made disasters or other circumstances beyond our control, including fire, earthquake, power loss, communications failure, war or terrorism”

All of Absci's internally developed programs are in early clinical or preclinical development with uncertain FDA outcomes, and even if approved its (and partners') products face U.S. drug-pricing pressure — the Inflation Reduction Act's Medicare price negotiation and Manufacturer Discount Program — while threatened U.S. tariffs on pharmaceutical products and retaliatory tariffs could raise costs and strain partners, potentially disrupting supply or delaying partner payments.

“The Trump administration has threatened to impose additional significant tariffs on pharmaceutical products, which could lead to corresponding punitive actio”

Absci relies on a limited number of suppliers for laboratory equipment and materials and on third-party CROs and contract manufacturers (some based outside the U.S., including China) to conduct preclinical/clinical studies and manufacture candidates; it may be unable to find or transition to replacements on a timely basis, and the December 2025 BIOSECURE Act restricting U.S. dealings with certain Chinese biotech providers adds supply/transition risk.

“We rely on a limited number of suppliers for laboratory equipment and materials and may not be able to find replacements or transition to alternative suppliers on a timely basis, or at all.”

Absci has devoted substantially all resources to its Integrated Drug Creation platform and early-stage internal programs and funds itself primarily through equity — a $100M at-the-market program with TD Securities, a March 2024 offering ($80.8M net) and 2025 ATM sales ($35.7M) — with only limited drug-creation revenue; it must generate significant additional revenue or raise more capital, exposing shareholders to ongoing dilution and funding risk.

“We have devoted substantially all of our resources to the development of our Integrated Drug Creation platform and commercialization of resulting drug creation capabilities, and the research and development of our internally developed programs. We will need to generate significant additional revenue to achieve and”