AbCellera Biologics Inc. (ABCL) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.15. This compares to loss of $0.11 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 13.33%. A quarter ago, it was expected that this company would post a loss of $0.16 per share when it actually produced a loss of $0.14, delivering a surprise of 12.50%. Over the last four quarters, the company h ...

Revenue and Net Loss - Total revenue for the six months ended June 30, 2024, was $17.277 million, a decrease from $22.248 million in the same period in 2023[11] - Net loss for the six months ended June 30, 2024, was $77.540 million, compared to $70.638 million in the same period in 2023[11] - Net loss for the six months ended June 30, 2024 was $77.54 million, compared to $70.64 million for the same period in 2023[18] - Basic and diluted net loss per share for the six months ended June 30, 2024, was $0.26, compared to $0.24 in the same period in 2023[11] - Basic and diluted net loss per share for Q2 2024 was $(0.13), compared to $(0.11) in Q2 2023, with net losses of $(36.9 million) and $(30.5 million) respectively[28] Research and Development Expenses - Research and development expenses for the six months ended June 30, 2024, were $80.214 million, down from $89.120 million in the same period in 2023[11] - Stock-based compensation expense increased to $35.19 million for the six months ended June 30, 2024, up from $31.87 million in the same period in 2023[18] - Stock-based compensation expense increased from $16.4 million in Q2 2023 to $17.8 million in Q2 2024, primarily driven by R&D and G&A expenses[49] Cash and Marketable Securities - Total cash, cash equivalents, and marketable securities as of June 30, 2024, were $670.356 million, a decrease from $760.585 million as of December 31, 2023[10] - Cash and cash equivalents and restricted cash decreased to $175.60 million as of June 30, 2024, compared to $207.04 million as of June 30, 2023[18] - Proceeds from marketable securities increased to $539.39 million for the six months ended June 30, 2024, compared to $422.81 million in the same period in 2023[18] - The company's marketable securities totaled $522.044 million as of June 30, 2024, with $72.434 million in Level 1 and $449.610 million in Level 2[60] - The company's marketable securities had a weighted average life of approximately 0.6 years and were rated A- or higher by at least two major rating agencies[58] Assets and Liabilities - Total current assets as of June 30, 2024, were $771.554 million, down from $871.985 million as of December 31, 2023[10] - Total liabilities as of June 30, 2024, were $301.513 million, a decrease from $335.776 million as of December 31, 2023[10] - Total shareholders' equity as of June 30, 2024, was $1.110968 billion, down from $1.152318 billion as of December 31, 2023[10] - Total shareholders' equity decreased to $1.11 billion as of June 30, 2024, down from $1.15 billion as of December 31, 2023[15] - Accumulated other comprehensive loss increased to $2.07 million as of June 30, 2024, compared to $1.72 million as of December 31, 2023[15] - Common shares outstanding increased to 294.67 million as of June 30, 2024, up from 290.82 million as of December 31, 2023[15] - Property and equipment, net increased from $287.7 million in December 2023 to $318.9 million in June 2024, driven by building and leasehold improvements[31] - The company held $32.3 million in non-marketable securities as of June 2024, unchanged from December 2023[52] Depreciation, Amortization, and Impairment - Depreciation, amortization, and impairment expenses for the six months ended June 30, 2024, were $41.366 million, up from $11.124 million in the same period in 2023[11] - Amortization and impairment of intangible assets significantly increased to $34.76 million for the six months ended June 30, 2024, compared to $5.31 million in the same period in 2023[18] - The company recorded a full impairment charge of $32.0 million for IPR&D assets acquired through the TetraGenetics acquisition in 2021[33] - Amortization expense on intangible assets is estimated to be $4.3 million annually from 2025 to 2029, totaling $21.5 million over five years[35] Cash Flow and Investments - Net cash used in operating activities increased to $71.67 million for the six months ended June 30, 2024, compared to $24.16 million in the same period in 2023[18] - Purchases of property and equipment increased to $44.25 million for the six months ended June 30, 2024, up from $42.19 million in the same period in 2023[18] - The company's equity investment in Dayhu JV increased slightly from $42.1 million in December 2023 to $42.2 million in June 2024[37] - Loan receivable from Beedie JV partner increased significantly from CAD $18.4 million ($13.9 million) in December 2023 to CAD $30.6 million ($22.4 million) in June 2024[40] Government Funding and Contributions - The company received a total of CAD $175.6 million ($125.6 million) from the Canadian government under the Strategic Innovation Fund (SIF) for COVID-19 antibody research and development[63] - The company entered into multi-year contribution agreements totaling CAD $300.0 million ($222.3 million) with the Canadian and British Columbia governments for antibody medicine development and manufacturing[64] - The company recorded CAD $46.0 million ($34.1 million) in respect of the Canadian government's funding commitment as of June 30, 2024[65] - The company recorded CAD $31.0 million ($23.0 million) in respect of the British Columbia government's funding commitment as of June 30, 2024[65] - Government Contribution 1 and 2 totaled $131.593 million on the consolidated balance sheets as of June 30, 2024[67] Contingent Consideration and Liabilities - Contingent consideration related to business acquisitions is measured using Level 3 inputs, with no changes to valuation techniques since acquisition[55] - Trianni's contingent consideration liability increased by $374,000 to $20.027 million for the three months ended June 30, 2024[56] - TetraGenetics' contingent consideration liability decreased by $32.4 million to $4.441 million for the three months ended June 30, 2024[56] Deferred Revenue and Other Financial Metrics - Deferred revenue decreased from $27.2 million in December 2023 to $14.4 million in June 2024, with $13.0 million recognized as revenue in H1 2024[50] - The company's exposure to market risk has not changed materially since December 31, 2023[125]

NEWS RELEASE AbCellera Reports Q2 2024 Business Results 08/06/2024 VANCOUVER, British Columbia - AbCellera (Nasdaq: ABCL) today announced financial results for the second quarter of 2024. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated. "This quarter, we made important progress on our internal pipeline and aim to submit applications for clinical trials for ABCL635 and ABCL575 in the second quarter of 2025. In parallel, we have focused preclinical work ...

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Investors might want to bet on AbCellera Biologics Inc. (ABCL) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a ...

Wall Street analysts say this drug developer can more than double your money.Discovering new drugs can be a lucrative endeavor, but things aren't working out lately for AbCellera Biologics (ABCL -0.29%). Shares of this unusual biotech stock are down by about 57% from the high water mark they set last summer.The steep losses might seem surprising if you've been paying attention to Wall Street analysts who follow AbCellera Biologics. KeyBanc has an overweight rating on the stock and a $7 per share price targe ...

AbCellera Biologics Inc. (NASDAQ:ABCL) Q1 2024 Earnings Conference Call May 7, 2024 5:00 PM ET Company Participants Tryn Stimart - Chief Legal & Compliance Officer Carl Hansen - President, Chief Executive Officer Andrew Booth - Chief Financial Officer Conference Call Participants Andrea Tan - Goldman Sachs Jacqueline Kisa - TD Securities Scott Schoenhaus - KeyBanc Stephen Willey - Stifel Operator Good afternoon and welcome to AbCellera's Q1, 2024 Business Update Conference Call. My name is Harry and I will ...

AbCellera Biologics Inc. (ABCL) came out with a quarterly loss of $0.14 per share versus the Zacks Consensus Estimate of a loss of $0.16. This compares to loss of $0.14 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12.50%. A quarter ago, it was expected that this company would post a loss of $0.14 per share when it actually produced a loss of $0.17, delivering a surprise of -21.43%.Over the last four quarters, the company ha ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 _________________________________________________________ FORM 10-Q _________________________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Numbe ...

NEWS RELEASE AbCellera Reports Q1 2024 Business Results 05/07/2024 VANCOUVER, British Columbia--(BUSINESS WIRE) -- AbCellera (Nasdaq: ABCL) today announced financial results for the first quarter of 2024. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated. “We continue to execute on advancing our internal pipeline, completing capital investments in forward integration, and expanding strategic partnerships,” said Carl Hansen, Ph.D., founder and CEO of AbCe ...