Business
AbCellera Reports Q1 2023 Business Results
Total revenue of $12 million, compared to $317 million in Q1 2022 Total cumulative partnered program starts of 101, up 20% from Q1 2022 Net loss of $0.14 per
About this update from Abcellera Biologics Inc.
[{"type":"text","content":"\n\nTotal revenue of $12 million, compared to $317 million in Q1 2022\n\n\n\nTotal cumulative partnered program starts of 101, up 20% from Q1 2022\n\n\n\nNet loss of $0.14 per share on a basic and diluted basis, compared to net earnings of $0.59 (basic) and $0.54 (diluted) per share in Q1 2022\n\n\n\n VANCOUVER, British Columbia--(BUSINESS WIRE)--\nAbCellera (Nasdaq: ABCL) today announced financial results for the first quarter of 2023. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.\n\n\n“In the first quarter we have continued to execute on our strategy of building the industry's preferred engine for the discovery and development of antibody therapeutics. Notably, new data on our T-cell engager platform demonstrates that we can generate TCEs with superior properties on a highly accelerated timeline, and against challenging tumor targets,” said Carl Hansen, Ph.D., founder and CEO of AbCellera. “As we progress further into 2023, we remain steadfast in our strategy of building best-in-world capabilities for the discovery and development of antibody therapeutics.”\n\n\nQ1 2023 Business Summary\n\n\n\nEarned $12.2 million in total revenue.\n\n\n\nGenerated a net loss of $40.1 million, compared to net earnings of $168.6 million in Q1 2022.\n\n\n\nReached a cumulative total of 177 programs under contract with 41 different partners.\n\n\n\nMaintained a cumulative total of 101 partnered program starts.\n\n\n\nReporting the advancement of one additional molecule into the clinic, bringing the cumulative total to nine molecules in the clinic.\n\n\n\nKey Business Metrics\n\n\n\n\nCumulative Metrics\n\n\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\n\n\nMarch 31, 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nChange %\n\n\n\n\n\n\n\n\nNumber of discovery partners\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\n41\n\n\n\n\n\n\n \n\n\n\n\n\n\n14\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nPrograms under contract\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\n177\n\n\n\n\n\n\n \n\n\n\n\n\n\n12\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nPartnered program starts\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\n101\n\n\n\n\n\n\n \n\n\n\n\n\n\n20\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nMolecules in the clinic\n\n\n\n\n\n\n\n6\n\n\n\n\n\n\n\n9\n\n\n\n\n\n\n\n50\n\n\n\n\n\n\n%\n\n\n\n\n\n\...