AbCellera Reports Q1 2025 Business Results
VANCOUVER, British Columbia — AbCellera (Nasdaq: ABCL) today announced financial results for the first quarter of 2025. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.
Article content
Article content
'After completion of a successful first quarter, we are excited to introduce ABCL635 as a potential first-in-class antibody for the non-hormonal treatment of vasomotor symptoms (hot flashes) associated with menopause. ABCL635 is positioned as a next-generation neurokinin 3 receptor (NK3R) antagonist with an improved safety profile and convenient dosing regimen. If successful, we believe it has the potential to be a highly differentiated product in a large and established market,' said Carl Hansen, Ph.D., founder and CEO of AbCellera. 'We ended the quarter with over $800 million in available liquidity to execute on our strategy and anticipate starting Phase 1 clinical trials for both ABCL635 and ABCL575 in the second half of 2025.'
Article content
Earned $4.2 million in total revenue.
Generated a net loss of $45.6 million, compared to net loss of $40.6 million in 2024.
Reached a cumulative total of 97 partner-initiated program starts with downstreams.
Maintained a cumulative total of 16 molecules to have reached the clinic.
Article content
AbCellera started discovery on an additional partner-initiated program with downstreams to reach a cumulative total of 97 partner-initiated program starts with downstreams in Q1 2025 (up from 90 on March 31, 2024). AbCellera's partners have advanced a cumulative total of 16 molecules into the clinic (up from 13 on March 31, 2024).
Article content
Discussion of Q1 2025 Financial Results
Article content
Revenue – Total revenue was $4.2 million, compared to $10.0 million in Q1 2024. In both periods, the majority of revenues were research fees generated by our partnerships.
Research & Development (R&D) Expenses – R&D expenses were $42.5 million, compared to $39.3 million in Q1 2024, reflecting growing investments in internal programs.
Sales & Marketing (S&M) Expenses – S&M expenses were $2.8 million, compared to $3.4 million in Q1 2024.
General & Administrative (G&A) Expenses – G&A expenses were $16.2 million, compared to $17.4 million in Q1 2024.
Net Loss – Net loss of $45.6 million, or $(0.15) per share on a basic and diluted basis, compared to net loss of $40.6 million, or $(0.14) per share on a basic and diluted basis, in Q1 2024.
Liquidity – $633 million of total cash, cash equivalents, and marketable securities and approximately $178 million in available non-dilutive government funding, bringing total available liquidity to approximately $810 million to execute on AbCellera's strategy.
Article content
AbCellera will host a conference call and live webcast to discuss these results today at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).
Article content
The live webcast of the earnings conference call can be accessed on the Events and Presentations section of AbCellera's Investor Relations website. A replay of the webcast will be available through the same link following the conference call.
Article content
About AbCellera Biologics Inc.
Article content
AbCellera (Nasdaq: ABCL) discovers and develops antibody medicines for indications across therapeutic areas including cancer, metabolic and endocrine conditions, and autoimmune disorders. AbCellera integrates technology, data science, infrastructure, and interdisciplinary teams to solve the most challenging antibody discovery problems. AbCellera is focused on advancing an internal pipeline of first-in-class and best-in-class programs and collaborating on innovative drug development programs with partners. For more information, please visit www.abcellera.com.
Article content
We regularly review the following key business metrics to evaluate our business, measure our performance, identify trends affecting our business, formulate financial projections, and make strategic decisions. We believe that the following metrics are important to understand our current business. These metrics may change or may be substituted for additional or different metrics as our business develops.
Article content
Partner-initiated program starts with downstreams represent the number of unique partner-initiated programs where we stand to participate financially in downstream success for which we have commenced the discovery effort. The discovery effort commences on the later of (i) the day on which we receive sufficient reagents to start discovery of antibodies against a target and (ii) the day on which the kick-off meeting for the program is held. We view this metric as an indication of the selection and initiation of projects by our partners and the resulting potential for near-term payments. Cumulatively, partner-initiated program starts with downstream participation indicate our total opportunities to earn downstream revenue from milestone fees and royalties (or royalty equivalents) in the mid- to long-term.
Article content
Molecules in the clinic represent the count of unique molecules for which an Investigational New Drug, or IND, New Animal Drug, or equivalent under other regulatory regimes, application has reached 'open' status or has otherwise been approved based on an antibody that was discovered either by us or by a partner using licensed AbCellera technology. Where the date of such application approval is not known to us, the date of the first public announcement of a clinical trial will be used for the purpose of this metric. We view this metric as an indication of our near- and mid-term potential revenue from milestone fees and potential royalty payments in the long term.
Article content
AbCellera Forward-Looking Statements
Article content
This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on management's current beliefs and assumptions and on information currently available to management. All statements contained in this release other than statements of historical fact are forward-looking statements, including statements regarding our ability to develop, commercialize and achieve market acceptance of our current and planned products and services, our research and development efforts, and other matters regarding our business strategies, use of capital, results of operations and financial position, and plans and objectives for future operations.
Article content
In some cases, you can identify forward-looking statements by the words 'may,' 'will,' 'could,' 'would,' 'should,' 'expect,' 'intend,' 'plan,' 'anticipate,' 'believe,' 'estimate,' 'predict,' 'project,' 'potential,' 'continue,' 'ongoing' or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties and other factors are described under 'Risk Factors,' 'Management's Discussion and Analysis of Financial Condition and Results of Operations' and elsewhere in the documents we file with the Securities and Exchange Commission from time to time. We caution you that forward-looking statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result, the forward-looking statements may not prove to be accurate. The forward-looking statements in this press release represent our views as of the date hereof. We undertake no obligation to update any forward-looking statements for any reason, except as required by law.
Article content
Article content
Article content
Article content
Article content
Article content
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBC
27 minutes ago
- CBC
Military pay raise a big boost for lower ranks, officials say
Social Sharing The federal government's pay increase for members of the Canadian military will provide some much-needed support for the lowest-ranking positions who are struggling in the face of rising costs of living, according to senior military officials. Prime Minister Mark Carney announced a $2 billion-per-year graduated series of salary top-ups and incentives on Friday. "The biggest increases should make a difference for our lower-ranked members and those are the ones that, at this time, seem to be hardest hit by the economy," Royal Canadian Air Force Lt.-Gen. Jamie Speiser-Blanchet told reporters at an event in Halifax on Saturday. The changes will see the lowest ranks of the regular force, like privates, ordinary sailors and aviators, receive a 20 per cent pay increase. Speiser-Blanchet said some members of the military are struggling to make ends meet, just like many Canadians, and this investment will make their lives a lot easier. The increases in pay and benefits will also help with recruitment and retention, said Canadian Royal Navy Vice-Admiral Angus Topshee. A $10,000 bonus is available for recruits in high-demand trades to complete basic training, an additional $20,000 when their training is completed and another $20,000 once they have completed their first term of service. Members and their families sacrifice a lot while serving their country so added incentives to sign up are welcome news, Topshee said. "We ask people to move their families across the country, often multiple times." he said. "There is no overtime in the military. There is no weekend. If we need you to work, you work." Pay raise 'long overdue': Defence minister The last comprehensive overhaul of the military's pay and benefits system happened in 1998, according to senior defence officials. "We're very proud to be able to provide the kind of pay package that our armed forces members deserve," David McGuinty, minister of national defence, said in Halifax on Saturday. "It's long overdue." Many low-ranking military members have struggled due to the cost of living since the pandemic, according to VETS Canada, a Halifax-based charity that supports members. Deb Lowther, the organization's CEO, said she was pleased with Friday's announcement as the organization sees more and more serving members "coming to us in crisis." She said she would like Ottawa to turn its focus to providing more help for members leaving the military and trying to transition back into civilian life. McGuinty told reporters on Saturday that the federal government has heard those concerns and will continue to look at ways to improve support for current and former members. "I think we'll have more to say about this in due course," he said.
CBC
27 minutes ago
- CBC
Motorcycle ride raising awareness of PTSD rolls through Winnipeg
Social Sharing Dozens of motorcycles rolled through Winnipeg on Saturday, as riders cross the country to raise awareness about Post Traumatic Stress Disorder. (PTSD) "We're trying to fight the stigma, and make it a little easier for people to come forward and get some help when it's needed," Warren Cave, one of the directors of the Rolling Barrage PTSD Foundation said on Saturday. The Rolling Barrage, an annual cross-country motorcycle trip now in its ninth year, that sees motorcyclists ride over the course of approximately three weeks from St. John's, N.L. to Aldergrove, B.C., made a stop in Winnipeg on Saturday. The journey, which also raises money for PTSD programming and supports, saw more than 40 motorcyclists cruising through downtown Winnipeg on Saturday afternoon, before ending their day in Neepawa. Cave, who lives in Alberta, and spent years serving in the Canadian Armed Forces, said he knows how hard it can be for many who serve in uniform in different capacities to come forward when issues of mental health and PTSD surface, due to some of the things they see in the line of duty. "We've got folks, whether it's fire, ambulance, or police that have experienced some pretty traumatic events in their careers," he said. He added he's had his own struggles with PTSD, and found it difficult to reach out for help the first time he felt he needed it, a fear he says many share. Cave also said the ride is a chance for those who have dealt with trauma to meet people who have had similar experiences. "The ride itself is therapy for so many people," he said. "You're with a group of like-minded people that may have different experiences, but they're similar. "Folks just talk and bond, and by the time this all ends, we've got a family, and that makes another network of people that can help each other." Kevin Martin of Winnipeg, who spent years working as a paramedic, was part of the Rolling Barrage that made its way through Winnipeg on Saturday. He said in an email his years as a first responder in Winnipeg, and the things he experienced on the job, led to him being diagnosed with PTSD. "I spent years as a paramedic in Winnipeg — proud to serve, but carrying calls that stayed with me long after the sirens stopped," Martin said. "Over time, those calls added up, and PTSD became a part of my life I couldn't ignore." For Martin, the Rolling Barrage symbolizes moving forward, while living with PTSD. "Every stop is a reminder that none of us have to carry the weight alone, and that help is out there," he said. "This ride is my way of taking back ground from PTSD, one kilometre at a time, and carrying that message from one side of the country to the other." The Rolling Barrage will continue west on Sunday morning, and was expected to reach Saskatoon later in the day on Sunday, before continuing its journey west to B.C.
Globe and Mail
an hour ago
- Globe and Mail
Georgian-style house quickly sells due to Humber River location
12 Queen Marys Dr., Toronto Asking price: $3.95-million (May, 2025) Selling price: $3.8-million (May, 2025) Previous selling price: Not available Taxes: $13,025 (2024) Days on the market: Five Listing agent: Luke Dalinda, Royal LePage Real Estate Services Ltd. There were several barriers to selling this original, four-bedroom house on a 50- by 154-foot lot this spring. Those included high levels of inventory on the west side of the Humber River and a shrinking pool of buyers interested in renovation projects. Its price under $4-million pulled in only six people to view the property, yet three were interested in owning it. 'Usually in this market, you'll see five to 10 listings at most, and right now that number, as of today, is closer to 24, so it's a challenge,' said agent Luke Dalinda. 'There are buyers who aren't prepared to do the work, but the buyers that were interested, they saw it as an opportunity to create their dream home.' The final sale price was $3.8-million, largely on account of its locale between Kingsway Crescent and Prince Edward Drive. 'This sale demonstrates that even in tough markets, a prime location remains a steadfast guardian of value,' said Mr. Dalinda. 'Overall, people coming from other neighbourhoods love the Kingsway and all that the Kingsway offers, like the schools, restaurants and safety. It's quite a nice neighbourhood.' In the 1930s, this two-storey house was designed with a centre-hall plan, complete with a formal dining room and traditional eat-in kitchen. In the 1980s, it was expanded to offer a total of 3,019 square feet of living space, including a third entertaining area with a fireplace on the main floor. There are also fireplaces in a recreation area downstairs and the primary bedroom upstairs. The latter also encompasses a sitting area, a walk-through closet and one of three bathrooms. 'The notable lot is a rare 154-feet deep and completely private,' said Mr. Dalinda. 'The property also features a double, private drive with a built-in garage.'
