Abcellera Biologics Inc. · NASDAQ:ABCL
Abcellera Biologics — Q3 2021 Earnings Presentation
20 slides from Abcellera Biologics's earnings presentation, Nov 9, 2021
Slide 1: Q3 2021 Business Update
C O P Y R I G H T © A B C E L L E R A NOV 9, 2021 UPDATE BUSINESS Q3 2021
Slide 2: Disclaimer
DISCLAIMER This presentation contains forward-looking statements, including These statements involve risks, uncertainties and other factors that may statements made pursuant to the safe harbor provisions of the Private cause actual results, levels of activity, performance, or achievements to be Q3 2
Slide 3: Strong Growth of Core Business
STRONG 17 155 GROWTH NEW programs under contract cumulative programs under contract OF CORE 9 $754M BUSINESS NEW programs started in cash, cash equivalents & marketable securities 1 $44M COPYRIGHT © ABCELLERA Q3 2021. MOLECULE entered in accounts & B U S I N E S S U P D AT E S U M M A R Y. clinical
Slide 4: Dozens of IND Filings in Half the Time
100+ DISCOVERY PROGRAMS ANNUALLY DOZENS OF AbCellera Development Partner Development IND FILINGS Antibody Preclinical Phase 1, 2, 3, IN HALF Discovery Approval Tech Stack Expansion into THE TIME GMP / CMC Manufacturing COPYRIGHT © ABCELLERA OUR VISION.
Slide 5: 155 Programs Under Contract
155 PROGRAMS UNDER CONTRACT 131 WITH DOWNSTREAM PARTICIPATION Q3 2021 BUSINESS UPDATE oncology royalties & neurodegeneration milestones pain allergic inflammation equity / ophthalmology DEAL equity-like I N D I C AT I O N S infectious disease ST R U C T U R E S INCLUDE autoimmune diseases option wom
Slide 6: Unlocking Innovation for Drug Developers of All Sizes
UNLOCKING INNOVATION FOR DRUG DEVELOPERS Q3 2021 BUSINESS UPDATE OF ALL SIZES Next-Gen Modalities IgGs, IgMs, IgAs bispecific antibodies single domain radioisotope conjugates COPYRIGHT © ABCELLERA CAR-T Cell CNS-delivered therapies antibodies 6
Slide 7: 2 New Partnerships That Open New Markets & Pioneer New Modalities
2 NEW PARTNERSHIPS THAT OPEN NEW MARKETS & PIONEER NEW MODALITIES Q3 2021 BUSINESS UPDATE 10 targets multi-year 6 targets multi-year COPYRIGHT © ABCELLERA oncology + multiple multiple indications indications 7
Slide 8: Expand Capabilities Against Difficult-to-Drug Targets with Acquisition of TetraGenetics
EXPAND CAPABILITIES AGAINST DIFFICULT-TO-DRUG TARGETS WITH ACQUISITION OF TETRAGENETICS Q3 2021 BUSINESS UPDATE GPCR and ion channel proteins are high value, difficult-to-drug targets. Integrating TetraGenetics into our tech stack provides an optimized source of proteins for our antibody discovery e
Slide 9: Creating Value with Bispecifics
CREATING VALUE WITH BISPECIFICS Q3 2021 BUSINESS UPDATE OrthoMab™ bispecific engineering platform, coupled with our discovery engine, provides partners with a rapid and complete solution for generating tailored, stable, and developable bispecific antibodies. COPYRIGHT © ABCELLERA 9
Slide 10: Empower Next-Gen Anti-CD3 Antibodies for Oncology
EMPOWER NEXT-GEN ANTI-CD3 ANTIBODIES FOR ONCOLOGY Q3 2021 BUSINESS UPDATE Large and growing market opportunity in the use of bispecifics specifically for T cell redirection in oncology through CD3 receptor engagement on T cells. COPYRIGHT © ABCELLERA CD3+ T Cell Target Cell 10
Slide 11: Congratulations to Invetx for Advancing IVX-01 into Clinical Testing
CONGRATULATIONS TO INVETX FOR ADVANCING IVX-01 INTO Q3 2021 BUSINESS UPDATE CLINICAL TESTING IVX-01 is an antibody treatment for an undisclosed chronic indication in dogs. COPYRIGHT © ABCELLERA 11
Slide 12: Expand Capabilities. Build Capacity. Extend Commercial Reach.
EXPAND CAPABILITIES. BUILD CAPACITY. EXTEND COMMERCIAL REACH. Q3 2021 BUSINESS UPDATE 1 2 3 4 5 Increase Forward Scale Further Improve speed, programs integration of teams and technology increase under contract our tech stack facilities differentiation predictive power COPYRIGHT © ABCELLERA 12
Slide 13: Financials Update
C O P Y R I G H T © A B C E L L E R A FINANCIALS UPDATE Q3 2021
Slide 14: Financials: Partnership Business Metrics
FINANCIALS Partnership business on track for strongest year on all key metrics. # of Cumulative # of Cumulative # of Discovery Partners Programs Under Contract Program Starts Q3 2021 BUSINESS UPDATE 35 155 69 35 160 70 30 140 60 27 52 120 25 103 50 100 20 40 80 15 30 60 10 20 40 5 20 10 0 0 0 2015 2
Slide 15: Five Molecules in the Clinic
FINANCIALS Five molecules in the clinic, over a dozen in preclinical development. MOLECULE STAGE PARTNER THERAPEUTIC AREA PROGRAM TYPE bamlanivimab Marketed, Emergency • COVID-19 Q3 2021 BUSINESS UPDATE (LY-CoV555) Use Authorization (EUA) AbCellera Discovery Partnership bebetelovimab Phase II • COVI
Slide 16: $5.5M Revenue Reflects Robust Discovery Partnership Activity
FINANCIALS $5.5M revenue reflects robust discovery partnership activity. Revenue USD $9.4M ROYALTIES Q3 2021 BUSINESS UPDATE MILESTONES LICENSING $5.0M $5.5M RESEARCH FEES $0.2M $0.2M $5.1M $4.4M COPYRIGHT © ABCELLERA Q3 2020 Q3 2021 16
Slide 17: Operating Expenses Reflect Strengthening of the Platform
FINANCIALS Operating expenses continue to reflect strengthening of the platform. Operating Expenses USD RESEARCH & DEVELOPMENT SALES & MARKETING GENERAL & ADMIN Q3 2021 BUSINESS UPDATE +$10.0M $17.5M +$8.3M $11.3M $7.5M +$0.6M $3.0M COPYRIGHT © ABCELLERA $0.6M $1.2M Q3 2020 Q3 2021 Q3 2020 Q3 2021 Q
Slide 18: Net Loss of $21.4M
FINANCIALS Net loss of $21.4M: Equivalent to ($0.08) per share (basic & diluted). Earnings / Loss USD NET EARNINGS (LOSS) EARNINGS (LOSS) PER SHARE: BASIC & DILUTED Q3 2021 BUSINESS UPDATE Q3 First 9 Months Q3 First 9 Months $93.5M $0.34 BASIC $0.29 DILUTED $1.9M $0.01 -$2.7M -$0.02 COPYRIGHT © ABCE
Slide 19: Total Short-Term Liquidity Nearly $800 Million
FINANCIALS Total short-term liquidity nearly $800 million. Cash Flows USD Additionally, $44M AR $261.3M + accrued AR balance at quarter end $49.0M PP&E $753.5M Q3 2021 BUSINESS UPDATE ($95.3M) ($5.7M) ($0.9M) $594.1M COPYRIGHT © ABCELLERA CASH & EQUIVALENTS OPERATIONS INVESTMENT1 FINANCING FX CASH &
Slide 20: Thank You
COPYRIGHT © ABCELLERA 20 Q3 2021 BUSINESS UPDATE YOU THANK