Business
AbCellera Reports Q2 2021 Business Results
Total revenue of $28 million, up from $11 million in Q2 2020 Total programs under contract of 138, up 82% from Q2 2020 Net loss of ($0.01) per share (basic
About this update from Abcellera Biologics Inc.
[{"type":"text","content":"\n\nTotal revenue of $28 million, up from $11 million in Q2 2020\n\n\nTotal programs under contract of 138, up 82% from Q2 2020 \n\n\nNet loss of ($0.01) per share (basic and diluted) compared to net earnings of $0.03 per share (basic and diluted) in Q2 2020\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 second quarter of 2021. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.\n\n“This quarter we delivered strong growth across key performance indicators related to our partnership business, including new programs under contract, program starts, and new molecules in the clinic,” said Carl Hansen, Ph.D., CEO of AbCellera. “We continue to drive value in our partnership business by building a diversified portfolio of potential future royalty streams across a broad range of indications and antibody modalities. We are also extending this model to create opportunities to deepen our position with assets that can provide economics similar to an internal pipeline while staying focused on preclinical discovery and development.”\n\nQ2 2021 Business Summary\n\n\nEarned $27.6 million in total revenue, including $22.2 million in milestones and royalties.\n\n\nIncurred net loss of $2.3 million, compared to generating net earnings of $6.7 million in Q2 2020.\n\n\nAdded 19 programs under contract with four new partners, resulting in a cumulative total of 138 programs under contract with 33 different partners.\n\n\nStarted discovery on six programs, bringing the cumulative number of program starts to 60.\n\n\nConfirmed three new molecules advanced into the clinic, bringing the cumulative total to four.\n\n\nU.S. shipments of the AbCellera-discovered and Eli Lilly-developed bamlanivimab, administered together with etesevimab for COVID-19, were halted in June 2021 because of the prevalence of resistant variants at the time (Beta and Gamma). Preclinical data demonstrate that bamlanivimab and etesevimab administered together retain neutralization activity against variants currently in circulation in many countries, including the Delta variant which is now the most prevalent variant in the U.S.\n\n\nA second AbCellera-discovered t...