Business
AbCellera Reports Q1 2022 Business Results
Total revenue of $317 million, compared to $203 million in Q1 2021 Six program starts in the quarter bringing cumulative total to 84, up 56% from Q1 2021 Net
About this update from Abcellera Biologics Inc.
[{"type":"text","content":"\n\nTotal revenue of $317 million, compared to $203 million in Q1 2021\n\n\nSix program starts in the quarter bringing cumulative total to 84, up 56% from Q1 2021 \n\n\nNet earnings of $0.59 per share on a basic and $0.54 on a diluted basis compared to $0.43 (basic) and $0.37 (diluted) per share in Q1 2021\n\n\n \n\n VANCOUVER, British Columbia--(BUSINESS WIRE)--\nAbCellera (Nasdaq: ABCL), a technology company with a centralized operating system for next-generation antibody discovery, today announced financial results for the first quarter of 2022. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.\n\n“We entered 2022 with strong momentum that we leveraged to start new drug discovery programs and demonstrate the power of our platform by discovering a panel of CD3 antibodies for use in precision cancer treatments,” said Carl Hansen, Ph.D., CEO and President of AbCellera. “With our strong cash position and book of business, we also continued pursuing deal structures that allow us to capture more downstream value and expanded an existing partnership to include the option to co-develop therapeutic programs.”\n\nQ1 2022 Business Summary\n\n\nEarned $317 million in total revenue.\n\n\nGenerated net earnings of $169 million, compared to $117 million in Q1 2021.\n\n\nAdded two programs under contract with an existing partner, resulting in a cumulative total of 158 programs under contract with 36 different partners.\n\n\nStarted discovery on six programs, bringing the cumulative number of program starts to 84.\n\n\nConfirmed one new molecule advanced into the clinic, bringing the cumulative total to six.\n\n\nKey Business Metrics\n\n\n\nCumulative Metrics\n\n\n\n \n\n\n\nMarch 31, 2021\n\n\n\n \n\n\n\n \n\n\n\nMarch 31, 2022\n\n\n\n \n\n\n\n \n\n\n\nChange %\n\n\n\n \n\n\n\n\n\nNumber of discovery partners\n\n\n\n \n\n\n\n \n\n\n\n29\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n36\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n24\n\n\n\n%\n\n\n\n\n\nPrograms under contract\n\n\n\n \n\n\n\n \n\n\n\n119\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n158\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n33\n\n\n\n%\n\n\n\n\n\nProgram starts\n\n\n\n \n\n\n\n \n\n\n\n54\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n84\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n56\n\n\n\n%\n\n\n\n\n\nMolecules in the clinic\n\n\n\n \n\n\n\n \n\n\n\n1\n\n\n\n \n\n\n\n \n\n\n\n \n\...