AbCellera Reports Q1 2025 Business Results

About this update from Abcellera Biologics Inc.

[{"type":"text","content":" VANCOUVER, British Columbia--(BUSINESS WIRE)--\nAbCellera (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.\n\n“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.”\n\nQ1 2025 Business Summary\n\n\nEarned $4.2 million in total revenue.\n\n\nGenerated a net loss of $45.6 million, compared to net loss of $40.6 million in 2024.\n\n\nReached a cumulative total of 97 partner-initiated program starts with downstreams.\n\n\nMaintained a cumulative total of 16 molecules to have reached the clinic.\n\n\nKey Business Metrics\n\n\n\nCumulative Metrics\n\n\n\n \n\n\n\nMarch 31, 2024\n\n\n\n \n\n\n\nMarch 31, 2025\n\n\n\n \n\n\n\nChange %\n\n\n\n\n\nPartner-initiated program starts with downstreams\n\n\n\n \n\n\n\n90\n\n\n\n \n\n\n\n97\n\n\n\n \n\n\n\n8\n\n\n\n%\n\n\n\n\n\nMolecules in the clinic\n\n\n\n \n\n\n\n13\n\n\n\n \n\n\n\n16\n\n\n\n \n\n\n\n23\n\n\n\n%\n\n\n\n\nAbCellera 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).\n\nDiscussion of Q1 2025 Financial Results\n\n\nRevenue – 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.\n\n\nResearch & Development (R&D) Expenses – R&D expenses were $42.5 million, compared to $39.3 million in Q1 2024, reflecti...

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