Shares of Absci Corporation (ABSI) gained over 6% on Wednesday morning after the company entered into a strategic collaboration with Advanced Micro Devices Inc (AMD) to enhance its AI drug discovery capabilities.
ABSI is currently trading at $3.2750, up $0.2050 or 6.6775%, on the Nasdaq. The stock opened its trading at $4.0800 after closing Tuesday at $3.0700. The stock has traded between $2.4500 and $6.7200 in the past 52-week period.
AMD will also make a $20 million investment in Absci, structured as a private investment in public equity (PIPE), underscoring the growing demand for innovative AI applications in drug discovery.
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