Financial Data and Key Metrics Changes - The company achieved revenues of $4.6 million during the three months ended July 31, 2021, compared to $3.8 million in 2020, representing a 22% increase in its core CRO business [23] - Gross profit was $2.5 million with a 55% gross profit margin, compared to $2.4 million and a 64% gross profit margin in 2020 [23][24] - The company recorded a net loss of $3.2 million for the quarter compared to $549,000 in Q1 2020, attributed to increased expenses and lack of grant income [28] Business Line Data and Key Metrics Changes - The company reported a 22% increase in revenue from its core CRO business, driven by an increase in both the volume and financial values of client contracts [23][12] - Significant investments were made in research and development, totaling $1.1 million compared to $309,000 in 2020, reflecting a focus on COVID-19 and other research projects [25] Market Data and Key Metrics Changes - The company is expanding its physical footprint, with the Utrecht campus anticipated to complete its move into the Accelerator building, effectively doubling the square footage of usable laboratory space [11] - The collaboration with Eurofins is expected to enhance market reach and client base, with revenue generation anticipated to begin around late Q3 2021 [38] Company Strategy and Development Direction - The company is focused on strategic growth through investments in human capital, infrastructure, and expanding its service offerings [6][8] - The collaboration with Eurofins is designed to catalyze growth in both contract research and therapeutic asset partnerships [14] - The company aims to solidify its position as a global leader in antibody discovery and contract research services [41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the ongoing challenges posed by COVID-19 and emphasized the importance of their PolyTope program in addressing current and future variants [20] - The company anticipates that the fiscal year will be the most exciting yet, with ongoing strategic growth initiatives [41] Other Important Information - The company has engaged ChemPartner Biologics for clinical batch production, with first-in-human studies for SARS-CoV-2 programs expected to commence in Q1 2022 [19][35] - The company holds $40.7 million in cash as of July 31, 2021, providing sufficient reserves to sustain operations for at least the next two years [31] Q&A Session Summary Question: Update on the TATX-03 PolyTope program and timeline for preclinical results and clinical trials - Management confirmed that preclinical results are scheduled for Q4 2021, with clinical trials expected to begin in Q1 2022 [35] Question: Update on the Talem pipeline and potential partnerships - Management indicated active communication with various companies regarding Talem's pipeline assets, with several candidates moving into preclinical analysis [36][37] Question: Impact of collaboration with Eurofins on CRO business and revenue timeline - The collaboration is expected to broaden client access and generate revenue starting around late Q3 2021 [38] Question: Growth of base customers in the CRO business - Management noted continuous addition of new clients while maintaining strong relationships with existing customers, with an average contract size of around $120,000 per program [39]

Exhibit 99.2 IMMUNOPRECISE ANTIBODIES LTD. CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS For the three months ended July 31, 2021 and 2020 | | | Three months ended July 31, | | | --- | --- | --- | --- | | | | 2021 | 2020 | | (in thousands, except share data) | Note | $ | $ | | REVENUE | | 4,588 | 3,765 | | COST OF SALES | | 2,082 | 1,355 | | GROSS PROFIT | | 2,506 | 2,410 | | EXPENSES | | | | | Advertising | | 163 | 33 | | Amortization and depreciation | 8, 9 | 670 | 678 | | Bad debt expense (recovery ...

ImmunoPrecise Antibodies Ltd. (NASDAQ:IPA) Q4 2021 Earnings Conference Call July 28, 2021 4:30 PM ET Company Participants John Mullaly - LifeSci Advisors Jennifer Bath - President & Chief Executive Officer Lisa Helbling - Chief Financial Officer Conference Call Participants Operator Good afternoon ladies and gentlemen and thank you for standing by. Welcome to ImmunoPrecise Antibodies Financial Results and Business Highlights Earnings Call for the Full Fiscal Year 2021. At this time, all participants are in ...