Business
AbCellera Reports Q2 2023 Business Results
Total revenue of $10 million, compared to $46 million in Q2 2022 Total cumulative partnered program starts of 106, up 20% from Q2 2022 Net loss of $0.11 per
About this update from Abcellera Biologics Inc.
[{"type":"text","content":"\n\nTotal revenue of $10 million, compared to $46 million in Q2 2022\n\n\n\nTotal cumulative partnered program starts of 106, up 20% from Q2 2022\n\n\n\nNet loss of $0.11 per share on a basic and diluted basis, compared to a net loss of $0.02 per share on a basic and diluted basis in Q2 2022\n\n\n\n VANCOUVER, British Columbia--(BUSINESS WIRE)--\nAbCellera (Nasdaq: ABCL) today announced financial results for the second quarter of 2023. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.\n\n\n“In the second quarter we secured over $220 million in strategic financing from the Governments of Canada and British Columbia to accelerate the execution of our strategy. When combined with our cash, cash equivalents, and marketable securities of over $800 million this brings our total available liquidity to over $1 billion,” said Carl Hansen, Ph.D., founder and CEO of AbCellera. “By strengthening our liquidity position, our discovery and development engine, and our portfolio, this funding will drive value in multiple dimensions of our business, including advancing more pre-partnered programs to the clinic.”\n\n\nQ2 2023 Business Summary\n\n\n\nEarned $10.1 million in total revenue.\n\n\n\nGenerated a net loss of $30.5 million, compared to a net loss of $6.8 million in Q2 2022.\n\n\n\nMaintained a cumulative total of 177 programs under contract with 41 different partners.\n\n\n\nReached a cumulative total of 106 partnered program starts.\n\n\n\nContinuing to report nine molecules cumulatively advanced to 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\nJune 30, 2022\n\n\n\n\n\n\n \n\n\n\n\n\n\nJune 30, 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\n38\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\n8 %\n\n\n\n\n\n\n\n\nPrograms under contract\n\n\n\n\n\n\n \n\n\n\n\n\n\n164\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\n8 %\n\n\n\n\n\n\n\n\nPartnered program starts\n\n\n\n\n\n\n \n\n\n\n\n\n\n88\n\n\n\n\n\n\n \n\n\n\n\n\n\n106\n\n\n\n\n\n\n \n\n\n\n\n\n\n20 %\n\n\n\n\n\n\n\n\nMolecules in the clinic\n\n\n\n\n\n\n \n\n\n\n\n\n\n6\n\n\n\n\n\n\n \n\n\n\n\n\n\n9\n\n\n\n\n\n\n \n\n\n\n\n\n\n50 %\n\n\n\n\n\n\n\nAbCellera maintained a cumulative total of 177...