Press release
Investigation announced for Investors in NASDAQ: ABSI shares over possible Wrongdoing at Absci Corporation
An investigation on behalf of investors in Absci Corporation (NASDAQ: ABSI) shares over potential wrongdoing at Absci Corporation.
Investors who purchased shares of Absci Corporation (NASDAQ: ABSI) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Absci Corporation directors breached their fiduciary duties and caused damage to the company and its shareholders.
Vancouver, WA based Absci Corporation, an AI-powered synthetic biology company, offers biologic drug candidates and production cell lines using integrated drug creation platform for partners in the United States. Absci Corporation reported that its annual Total Revenue rose from $2.06 million in 2019 to $4.78 million in 2020, and that its Net Loss increased from $6.58 million in 2019 to $14.35 million in 2020.
On or around July 22, 2021, Absci Corporation (NASDAQ: ABSI) conducted its initial public offering ("IPO"), offering 12.5 million shares of common stock priced at $16.00 per share.
Then, on September 7, 2021, Absci Corporation (NASDAQ: ABSI) reported its financial and operating results for the second quarter of 2021. Among other items, Absci Corporation (NASDAQ: ABSI) reported earnings per share and revenue that both fell significantly short of consensus estimates.
Shares of Absci Corporation (NASDAQ: ABSI) declined to as low as $9.62 per share on October 12, 2021.
Those who purchased shares of Absci Corporation (NASDAQ: ABSI) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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