Abcellera Biologics Inc. Stock Price, News & Analysis

AbCellera (NASDAQ: ABCL) announced a Joint Procurement Agreement with the European Commission and Eli Lilly to supply up to 220,000 doses of bamlanivimab and etesevimab for COVID-19 treatment in Europe. This agreement allows EU/EEA countries to directly purchase these treatments after national approval. The two drugs effectively neutralize the highly contagious Delta variant, responsible for over 95% of new COVID-19 cases in the region. Bamlanivimab has already treated over 535,000 patients in the U.S., potentially preventing 25,000 hospitalizations.

AbCellera (Nasdaq: ABCL) has received expanded Emergency Use Authorization (EUA) from the FDA for bamlanivimab and etesevimab to include post-exposure prophylaxis against COVID-19. This update allows use among individuals at high risk who have been exposed to the virus. The authorization is based on Phase 3 trial results indicating up to an 80% reduction in COVID-19 risk in nursing home residents. Over 535,000 patients have been treated with these antibodies since their initial authorization.

AbCellera (Nasdaq: ABCL) announced a multi-year collaboration with Moderna to utilize its AI-powered antibody discovery platform alongside Moderna’s mRNA technology. This partnership aims to accelerate the development of mRNA-encoded antibody therapeutics for up to six targets. Moderna will hold the rights to develop and commercialize the antibodies, while AbCellera will receive research payments and potential milestone payments and royalties. CEO Carl Hansen emphasized the collaboration as a significant step in advancing genetic medicines.

AbCellera (Nasdaq: ABCL) has acquired TetraGenetics, enhancing its capabilities in antibody discovery for challenging transmembrane proteins. This all-cash transaction includes an upfront payment and potential milestone payments based on the successful development of therapeutics. TetraGenetics specializes in producing complex transmembrane proteins, crucial for developing antibodies against significant drug targets. The integration of these technologies is expected to empower AbCellera's therapeutic discovery efforts.

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.