Business
AbCellera Reports Q3 2021 Business Results
Total revenue of $6 million, compared to $9 million in Q3 2020 Nine program starts in the quarter bringing cumulative total to 69, up 35% from Q3 2020 Net
About this update from Abcellera Biologics Inc.
[{"type":"text","content":"\n\nTotal revenue of $6 million, compared to $9 million in Q3 2020\n\n\nNine program starts in the quarter bringing cumulative total to 69, up 35% from Q3 2020\n\n\nNet loss of ($0.08) per share (basic and diluted) compared to a net loss of ($0.02) per share (basic and diluted) in Q3 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 third quarter of 2021. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.\n\n“We continue to execute on our long-term business strategy and have achieved another quarter of strong business development and growth in the key metric of program starts,” said Carl Hansen, Ph.D., CEO and President of AbCellera. “Our focus remains on the following top priorities: execution of our partnership business, forward integration of the platform to support all antibody drug discovery activities for the submission of an Investigational New Drug application, and investments in data science to increase the speed and scalability of our tech stack.”\n\nQ3 2021 Business Summary\n\n\nEarned $5.5 million in total revenue.\n\n\nIncurred net loss of $21.4 million, compared to a net loss of $2.7 million in Q3 2020.\n\n\nAdded 17 programs under contract and two new partners, resulting in a cumulative total of 155 programs under contract with 35 different partners.\n\n\nStarted discovery on nine programs, bringing the cumulative number of program starts to 69.\n\n\nConfirmed one new molecule advanced into the clinic, bringing the cumulative total to five.\n\n\nAcquired TetraGenetics to expand capabilities for high-value transmembrane protein targets.\n\n\nKey Business Metrics\n\n\n\nMetric\n\n\n\n \n\n\n\nSeptember 30,\n2020\n\n\n\n \n\n\n\n \n\n\n\nSeptember 30,\n2021\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\n26\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n35\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n35\n\n\n\n%\n\n\n\n\n\nPrograms under contract, cumulative\n\n\n\n \n\n\n\n \n\n\n\n94\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n155\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n65\n\n\n\n%\n\n\n\n\n\nProgram starts, cumulative\n\n\n\n \n\n\n\n \n\n\n\n51\n\n\n\n \n\n\n\n \n\n\n\n...