Abcellera Biologics Inc. · NASDAQ:ABCL
Abcellera Biologics — FY2024 Earnings Presentation
20 slides from Abcellera Biologics's earnings presentation, Feb 27, 2025
Slide 1: Full Year 2024 Business Update
FULL YEAR 2024 BUSINESS UPDATE COPYRIGHT © ABCELLERA FEBRUARY 27, 2025
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
Slide 3: Full Year 2024 Recap: Transitioning into a clinical-stage biotech
FULL YEAR 2024 RECAP Transitioning into a clinical-stage biotech. Full Year 2024 Business Update Building Internal Completing Investments Reducing New Discovery Pipeline & Programs in Our Engine Partnership Activity ● Put first 2 programs on track ● Moved into new HQ ● 2 new partnerships for Clinical
Slide 4: Use our competitive advantage in antibody drug creation to build a pipeline
Full Year 2024 Business Update STRATEGY Use our competitive advantage in antibody drug creation to build a pipeline of differentiated assets. COPYRIGHT © ABCELLERA 4
Slide 5: Internal Pipeline & Programs: pursue high-value opportunities
INTERNAL PIPELINE & PROGRAMS Pursue high-value Do we like the science? opportunities across multiple indications Is there a commercial opportunity Full Year 2024 Business Update with an unmet medical need? and modalities. Our platform supports multiple modalities including IgGs, ADCs and bispecifics.
Slide 6: ABCL635 Internal Pipeline & Programs
INTERNAL PIPELINE & PROGRAMS ABCL635 Undisclosed Science Commercial Opp Differentiation Development Path Full Year 2024 Business Update ● Pathway validated ● High unmet need in ● Potential first-in-class ● Clear clinical with small molecules large target population antibody in area of development pat
Slide 7: ABCL575 OX40L Antagonist
INTERNAL PIPELINE & PROGRAMS ABCL575 OX40L Antagonist Science Commercial Opp Differentiation Development Path Full Year 2024 Business Update ● OX40L mechanism of ● Atopic dermatitis is an ● Competitive space with ● Well-established clinical action established in $11B+* market, growing at two late st
Slide 8: In 2025 we intend to submit CTAs for our first 2 programs
INTERNAL PIPELINE & PROGRAMS In 2025 we intend to submit CTAs* for our first 2 programs. Full Year 2024 Business Update MOLECULE TARGET THERAPEUTIC AREA STAGE ABCL635 Undisclosed Metabolic & Endocrine Conditions CTA / IND-Enabling CTA Submission Phase I Readout GPCR or 2025 Q1 In progress 2025 Q2 Ant
Slide 9: Decreased new discovery partnership activity
PARTNERING PORTFOLIO In order to focus on our pipeline, we decreased new discovery partnership activity. Full Year 2024 Business Update 2024 Partnering Activity T-Cell Engager Platform Activity Entered into 3 partnership agreements in the first half of 2024: Entered into first significant TCE partnersh
Slide 10: 2025 Priorities: enter the clinic and initiate clinical manufacturing
2025 PRIORITIES Enter the clinic and initiate clinical manufacturing activities at new facility. Full Year 2024 Business Update ABCL635 Phase 1 clinical trials Complete platform investments initiated in 2025 Nominate by the first half of the year additional development candidate(s) for CTA-enabling A
Slide 11: Key milestones in the next 18-24 months
POTENTIAL MILESTONES We expect a number of key milestones in the next 18-24 months. Full Year 2024 Business Update First 2 CTAs* & First 2 clinical Intention to submit start of clinical data readouts 1-3 INDs per year trials in 2025 in 2026 over next 5 years CTA submissions anticipated in Anticipate
Slide 12: Full Year 2024 Financials Update
COPYRIGHT © ABCELLERA 12 Full Year 2024 Business Update FINANCIALS UPDATE FULL YEAR 2024
Slide 13: Continued progress on key business metrics
~$840M in available liquidity to execute on our strategy Continued ~$650M in total cash, cash equivalents, & Full Year 2024 Business Update progress on key marketable securities business metrics 96 cumulative partner-initiated program starts with downstreams and a strong 16 molecules in cash positio
Slide 14: Continuing portfolio growth
Continuing portfolio growth. Cumulative # of Cumulative # of Notable Updates on PARTNER-INITIATED PROGRAM STARTS MOLECULES IN THE CLINIC MOLECULES IN THE CLINIC WITH DOWNSTREAMS Full Year 2024 Business Update Molecule This Quarter’s Update ABD-147 Advanced into Phase 1 trial Undisclosed New, in Phas
Slide 15: Partner-initiated programs continue to progress towards the clinic
Partner-initiated programs continue to progress towards the clinic. Cumulative # of PARTNER-INITIATED PROGRAMS WITH DOWNSTREAM PARTICIPATION* 6 Not Expected to Progress AbCellera Leading or Co-Leading Work Full Year 2024 Business Update 14 In Progress 4 Clinical Development 5 Preclinical Development
Slide 16: Large diversified exposure to next-gen antibody therapies
Large diversified exposure to next-gen antibody therapies. 91% human health: target antigen known n = 87 100% human health n = 27 9% animal health Full Year 2024 Business Update n=9 30% oncology & immunology 21% 17% T-cell engagers neurology immunology & inflammation n=8 56% undisclosed GPCRs & 10% 4%
Slide 17: Operating expenses reflect investments, predominantly in R&D
Operating expenses reflect investments, predominantly in R&D; partly offset by $29M in revenue. Revenue USD Operating Expenses USD MILESTONES RESEARCH & SALES & GENERAL & LICENSING DEVELOPMENT MARKETING ADMIN Full Year 2024 Business Update RESEARCH FEES -$8.4M $175.7M $167.3M +$11.7M $72.7M $61.0M $3
Slide 18: Net loss of $163M; ($0.55) per share
Net loss of $163M; equivalent to ($0.55) per share (basic & diluted). Earnings USD NET EARNINGS EARNINGS PER SHARE: Full Year 2024 Business Update BASIC AND DILUTED ($146.4M) ($162.9M) 2023 2024 COPYRIGHT © ABCELLERA 18
Slide 19: Approximately $653M in total cash, equivalents, and marketable securities
Approximately $653M in total cash, equivalents, and marketable securities. Cash Flows USD $788M Full Year 2024 Business Update $653M $627M Marketable Securities $469M Marketable Securities $121M $13M $133M $173M Marketable ($3M) $156M Securities (net) Cash & Cash & COPYRIGHT © ABCELLERA Equivalents
Slide 20: Thank You
COPYRIGHT © ABCELLERA 20 Full Year 2024 Business Update THANK YOU