Business
AbCellera Reports Q3 2023 Business Results
Total revenue of $7 million, compared to $101 million in Q3 2022 Total cumulative partnered program starts of 110, up 20% from Q3 2022 Net loss of $0.10 per
About this update from Abcellera Biologics Inc.
[{"type":"text","content":"\n\nTotal revenue of $7 million, compared to $101 million in Q3 2022\n\n\n\nTotal cumulative partnered program starts of 110, up 20% from Q3 2022\n\n\n\nNet loss of $0.10 per share on a basic and diluted basis, compared to net earnings of $0.09 and $0.08 per share on a basic and diluted basis, respectively, in Q3 2022\n\n\n\n VANCOUVER, British Columbia--(BUSINESS WIRE)--\nAbCellera (Nasdaq: ABCL) today announced financial results for the third quarter of 2023. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.\n\n\n“In the third quarter we achieved a company milestone with AbCellera advancing two AbCellera-led programs into IND-enabling studies,” said Carl Hansen, Ph.D., founder and CEO of AbCellera. “These programs exemplify our strategy of building value, both through strategic partnerships, and through internal discovery and development of potential first-in-class antibody therapies.”\n\n\nQ3 2023 Business Summary\n\n\n\nEarned $6.6 million in total revenue.\n\n\n\nGenerated a net loss of $28.6 million, compared to net earnings of $26.6 million in Q3 2022.\n\n\n\nReached a cumulative total of 182 programs under contract with 42 different partners.\n\n\n\nReached a cumulative total of 110 partnered program starts.\n\n\n\nReporting the advancement of one additional molecule in the clinic, bringing the cumulative total to ten molecules advanced to the clinic.\n\n\n\nAdvancing two AbCellera-led programs into IND-enabling studies.\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\nSeptember 30, 2022\n\n\n\n\n\n\n \n\n\n\n\n\n\nSeptember 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\n42\n\n\n\n\n\n\n \n\n\n\n\n\n\n11 %\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\n182\n\n\n\n\n\n\n \n\n\n\n\n\n\n11 %\n\n\n\n\n\n\n\n\nPartnered program starts\n\n\n\n\n\n\n \n\n\n\n\n\n\n92\n\n\n\n\n\n\n \n\n\n\n\n\n\n110\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\n7\n\n\n\n\n\n\n \n\n\n\n\n\n\n10\n\n\n\n\n\n\n \n\n\n\n\n\n\n43 %\n\n\n\n\n\n\n\nAbCellera reached a cumulative total of 182 programs under contract (up from 164 on September 30, 2022) that...