Abcellera Biologics Inc. · NASDAQ:ABCL

Abcellera Biologics — Q1 2026 Earnings Presentation

24 slides from Abcellera Biologics's earnings presentation, May 11, 2026

  1. Slide 1: Q1 2026 Business Update

    Q1 2026 BUSINESS UPDATE COPYRIGHT © ABCELLERA MAY 11, 2026

  2. Slide 2: Disclaimer

    DISCLAIMER This presentation contains forward-looking statements, including statements made These statements involve risks, uncertainties and other factors that may cause pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act actual results, levels of activity, perfor

  3. Slide 3: 2026 Priorities

    2026 PRIORITIES Advance pipeline to key data readout for ABCL635 and set up for additional three INDs in 2027 Q1 2026 Business Update ABCL635 Phase 2 clinical trial ABCL688 progressing through topline readout in Q3 2026 IND-enabling activities Nominate at least 1 additional development candidate for

  4. Slide 4: ABCL635 is a potential first-in-class antibody for vasomotor symptoms

    ABCL635 is a potential first-in-class antibody for the non-hormonal treatment of vasomotor symptoms (hot flashes) Target Target Type Neurokinin 3 receptor (NK3R) G protein-coupled receptor (GPCR) Q1 2026 Business Update Indication Moderate-to-severe vasomotor symptoms (VMS) associated with menopause S

  5. Slide 5: ABCL635 could address a large unmet need in VMS

    ABCL635 could help to address a large unmet need for the treatment of VMS associated with menopause Clinical Need Market Opportunity Investment Thesis 4+ years 1M+ women Reduce VMS Q1 2026 Business Update is the median duration for vasomotor could benefit from safe and effective non-hormonal treatmen

  6. Slide 6: ABCL635 Phase 1 is a randomized, double-blind, placebo-controlled study

    ABCL635 Phase 1 in healthy volunteers is a randomized, double-blind, placebo-controlled, first-in-human study Part A: Single ascending dose (SAD) Part B: Multiple ascending dose (MAD) N = 40 N = 16 Participants 40 healthy men and postmenopausal women, 40-65 year old 16 postmenopausal women with or w/

  7. Slide 7: Phase 1 SAD: Demographic Characteristics

    Phase 1 SAD: Demographic Characteristics ABCL635 SAD cohorts include healthy 40-65 year Cohorts A1-A5 Total Pooled old men and postmenopausal women. SAD Safety ABCL635 Placebo Population 30 mg 100 mg 300 mg 600 mg 900 mg (N=30) (N=10) ● All ABCL635 cohorts included at Q1 2026 Business Update (N=6) (

  8. Slide 8: ABCL635 demonstrates favorable tolerability profile

    Phase 1 SAD: ABCL635 demonstrates favorable tolerability profile Adverse events reported in at least two study participants regardless of relationship Adverse Event ABCL635 Total Pooled Preferred Term Cohorts A1-A5 ABCL635 placebo Q1 2026 Business Update (N=30) n (%) (N=10) n (%) ● No serious or seve

  9. Slide 9: No liver safety signal observed to date

    Phase 1 SAD: No liver safety signal observed to date Mean liver function tests (AST, ALT, bilirubin) remained stable across all doses Aspartate aminotransferase (AST) Alanine aminotransferase (ALT) Bilirubin Mean upper limit Q1 2026 Business Update of normal (ULN) Dose COPYRIGHT © ABCELLERA Data are

  10. Slide 10: ABCL635 exhibited favorable PK profile supportive of monthly dosing

    Phase 1 SAD/MAD: ABCL635 exhibited favorable PK profile supportive of monthly dosing Pharmacokinetics SAD MAD Q1 2026 Business Update ● Linear pharmacokinetics ● Exposure is approximately dose-proportional ● Mean terminal half-life of ~24 days supportive of monthly (Q4W) dosing COPYRIGHT © ABCELLERA

  11. Slide 11: Testosterone suppression is a biomarker of NK3R antagonism

    Testosterone suppression is a biomarker of NK3R antagonism in KNDy neurons NK3R blockade on KNDy neurons reduces GnRH secretion from the Testosterone* (placebo-corrected change from baseline, %) hypothalamus, causing downstream reductions in testosterone Fezolinetant, Male volunteers, 0-24 hours, Ph

  12. Slide 12: ABCL635 demonstrates target engagement of NK3R

    Phase 1 SAD: ABCL635 demonstrates target engagement of NK3R Dose-dependent and sustained testosterone suppression Testosterone (placebo-corrected change from baseline, %) Testosterone* (placebo-corrected change from baseline, %) ABCL635, Male volunteers (N=11), 0-12 weeks, Phase 1 SAD trial Fezoline

  13. Slide 13: ABCL635 reduces stimulation of the GnRH axis

    Phase 1 SAD: ABCL635 reduces stimulation of the GnRH axis Dose-dependent and sustained FSH and LH suppression Placebo-adjusted FSH suppression Placebo-adjusted LH suppression ABCL635, Male volunteers, 0-12 weeks, Phase 1 SAD trial Q1 2026 Business Update Change in FSH (%) Change in LH (%) Dose Dose

  14. Slide 14: ABCL635 Phase 1 data supported advancing to Phase 2

    ABCL635 Phase 1 data supported advancing to Phase 2 SAFETY/TOLERABILITY ENDPOINT PHARMACOKINETIC ENDPOINT PHARMACODYNAMIC ENDPOINT Favorable tolerability PK profile supports once Biomarker data suggests profile with no observed monthly subcutaneous strong and sustained Q1 2026 Business Update liver to

  15. Slide 15: ABCL635 Phase 2 currently enrolling with topline results expected in Q3 2026

    ABCL635 Phase 2 currently enrolling with topline results expected in Q3 2026 Phase 2 Study Design Topline Data in Q3 Q1 2026 Business Update ● Randomized, double-blind, placebo-controlled, multicenter trial in postmenopausal women with moderate-to-severe VMS, 40-75 years old ● Single dose of ABCL635

  16. Slide 16: Two readouts in 2026 and potential catalysts in 2027

    Two readouts in 2026 & potential for multiple catalysts in 2027 2026 2027 Q1 Q2 Q3 Q4 Potential Catalysts in 2027 Readout ABCL635 Phase 1/2 Late stage development of ABCL635 in Menopausal VMS menopausal VMS Q1 2026 Business Update ABCL635 Initiation of Phase 2 studies of ABCL635 in VMS in Oncology o

  17. Slide 17: Q1 2026 Financials Update

    COPYRIGHT © ABCELLERA 17 Q1 2026 Business Update Q1 2026 FINANCIALS UPDATE

  18. Slide 18: We continue to maintain a strong liquidity position

    We continue to ~$655M in available liquidity to execute on our strategy* maintain a strong Q1 2026 Business Update liquidity position ~$530M in total cash, cash equivalents, & to execute on our marketable securities* strategy. ~$125M in total available government funding* COPYRIGHT © ABCELLERA * As

  19. Slide 19: Operating expenses reflect R&D investments

    Operating expenses reflect R&D investments. Revenue USD Operating Expenses USD LICENSING AND ROYALTY RESEARCH & SALES, GENERAL & MILESTONES DEVELOPMENT ADMIN RESEARCH FEES Q1 2026 Business Update +$4.2M $46.7M $42.5M -$6.7M $19.1M $12.3M $8.3M $4.2M COPYRIGHT © ABCELLERA Q1 2025 Q1 2026 Q1 2025 Q1 20

  20. Slide 20: Net loss of $43M; ($0.14) per share

    Net loss of $43M; equivalent to ($0.14) per share (basic & diluted). Earnings USD NET EARNINGS EARNINGS PER SHARE: BASIC AND DILUTED Q1 2026 Business Update ($43.2M) ($45.6M) ($0.14) ($0.15) Q1 2025 Q1 2026 Q1 2025 Q1 2026 COPYRIGHT © ABCELLERA 20

  21. Slide 21: Approximately $530M in total cash, equivalents, and marketable securities

    Approximately $530M in total cash, equivalents, and marketable securities. Cash Flows USD Q1 2026 Business Update COPYRIGHT © ABCELLERA * Restricted cash (including restricted cash in other assets) 21

  22. Slide 22: Thank You

    COPYRIGHT © ABCELLERA 22 Q1 2026 Business Update THANK YOU

  23. Slide 23: Appendix

    COPYRIGHT © ABCELLERA 23 CONFIDENTIAL Q1 2026 Business Update APPENDIX

  24. Slide 24: AbCellera has a portfolio of downstream stakes

    Q1 2026 Business Update COPYRIGHT © ABCELLERA AbCellera has a portfolio of downstream stakes. 1 Understood to be progressing. 24

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