Abcellera Biologics Inc. Stock Price, News & Analysis

AbCellera (Nasdaq: ABCL) announced its participation in the BofA Securities – Tech Solutions for Drug Discovery Conference on September 20, 2021, at 9:00 a.m. Pacific Time. Executives from AbCellera will present virtually, with a live audio webcast accessible through the company's Investor Relations website. A replay will be available post-presentation. AbCellera specializes in antibody discovery to assist drug developers in combating diseases.

AbCellera (ABCL) reported Q2 2021 revenue of $27.6 million, a significant increase from $11.2 million in Q2 2020, driven by royalties from bamlanivimab. The company incurred a net loss of $2.3 million, contrasting with $6.7 million net earnings in the same quarter last year. AbCellera added 19 new programs, bringing its total to 138 under contract. Despite ongoing investments increasing R&D expenses to $15 million, the company aims to strengthen its pipeline through partnerships, including advancing two COVID-19 therapeutic antibodies.

EQRx and AbCellera have announced a collaboration to discover and develop therapeutic antibodies using AbCellera's AI-powered technology. This partnership aims to enhance EQRx’s early-stage pipeline, focusing on oncology and immunology. The collaboration includes an option for AbCellera to invest further at various development stages for a larger share of product sales. This agreement marks a significant step for EQRx in delivering affordable medicines.

Tachyon Therapeutics and AbCellera have entered a collaboration to discover and develop an antibody targeting LEFTY1, a drug target in advanced cancers. AbCellera will receive milestone payments and royalties from products derived from its discovery platform. Additionally, the company can invest in development stages for a larger share of sales. This partnership allows for innovative advancements in cancer treatment and potentially impacts patient care significantly.

AbCellera (NASDAQ: ABCL) will release its second quarter 2021 financial results on August 12, 2021, followed by an earnings call at 2:00 PM PT (5:00 PM ET). The earnings call will be accessible via a live webcast on AbCellera’s Investor Relations website. The company specializes in discovering and analyzing antibodies for drug development, collaborating with various pharmaceutical and biotechnology partners. For more details, visit www.abcellera.com.

AbCellera (Nasdaq: ABCL) has appointed Neil Berkley as Chief Business Officer, focusing on expanding its partnership business, which includes over 100 programs with various drug developers. With over 20 years of experience in business development, Berkley aims to leverage partnerships for accelerating antibody therapeutics development. His prior roles include leadership positions at Halozyme Therapeutics and Acadia Pharmaceuticals. CEO Carl Hansen expressed enthusiasm for Berkley's role in enhancing the company’s global reach and strategic growth.

AbCellera (ABCL) has announced plans to build a 130,000-square-foot GMP manufacturing facility in Vancouver, marking a significant expansion in Canada’s capacity to produce therapeutic antibodies. This facility, set for completion in early 2024, aims to enhance AbCellera’s role in accelerating antibody therapies from discovery to clinical trials. The project is partly funded by a US$125.6 million grant from the Canadian government. AbCellera expects to add hundreds of jobs, contributing to improved pandemic preparedness and economic recovery in Canada.

AbCellera (Nasdaq: ABCL) announced that certain entities owned by CEO Carl Hansen and other senior leaders sold 11,900,000 common shares to institutional investors. The sale, attributed to estate planning and charitable giving, did not provide proceeds to AbCellera, and Dr. Hansen retains 20% equity interest. After the sale, the Selling Shareholders hold around 89% of their equity, representing about 30% of fully diluted shares. A Registration Statement on Form S-1 was filed on June 10, 2021, to register the Shares.

AbCellera (ABCL) reported Q1 2021 financial results, showcasing a remarkable 4253% increase in total revenue, reaching $202.7 million compared to $4.7 million in Q1 2020. Key highlights include $171.5 million in royalty revenue from bamlanivimab and $117.2 million in net earnings, a significant recovery from a $2.1 million loss the previous year. The company expanded its partnership portfolio, achieving 119 programs under contract with 29 partners. R&D expenses rose to $12.4 million, reflecting robust investments in discovery capabilities.