Absci

There is no realized pricing power because Absci is pre-commercial. If ABS-201 demonstrates strong, durable efficacy and favorable dosing for hair loss or endometriosis, a biologic could command premium pricing relative to generics and topicals, particularly if differentiation is clear.

But payer dynamics in novel biologics are challenging and competitive pipelines for AGA and endometriosis exist. Until clinical proof and payer acceptance, we score latent pricing power conservatively.