AbCellera Biologics(ABCL) - 2023 Q1 - Quarterly Report

PART I. FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited) This section presents the unaudited condensed consolidated financial statements, detailing financial position and performance for Q1 2023 Condensed Consolidated Balance Sheets The balance sheet shows a decrease in total assets from $1.54 billion at December 31, 2022, to $1.50 billion at March 31, 2023, primarily driven by a reduction in cash and cash equivalents Balance Sheet Summary | Metric | Dec 31, 2022 (in thousands) | Mar 31, 2023 (in thousands) | Change | | :---------------------------------- | :-------------------------- | :-------------------------- | :----- | | Total assets | $1,540,907 | $1,497,919 | $(42,988) | | Total liabilities | $307,630 | $289,419 | $(18,211) | | Total shareholders' equity | $1,233,277 | $1,208,500 | $(24,777) | | Cash and cash equivalents | $386,535 | $193,017 | $(193,518) | | Marketable securities | $499,950 | $603,478 | $103,528 | | Total cash, cash equivalents, and marketable securities | $886,485 | $796,495 | $(89,990) | Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) The company experienced a significant shift from net earnings of $168.57 million in Q1 2022 to a net loss of $40.11 million in Q1 2023, primarily due to the absence of COVID-19 antibody royalty revenue Income Statement Summary | Metric | Three months ended Mar 31, 2022 (in thousands) | Three months ended Mar 31, 2023 (in thousands) | Change | | :---------------------------------- | :--------------------------------------------- | :--------------------------------------------- | :----- | | Total revenue | $316,581 | $12,192 | $(304,389) | | Royalty revenue | $307,017 | $- | $(307,017) | | Research fees | $9,333 | $10,570 | $1,237 | | Milestone payments | $- | $1,250 | $1,250 | | Total operating expenses | $91,631 | $77,066 | $(14,565) | | Royalty fees (expense) | $44,637 | $- | $(44,637) | | Research and development | $26,366 | $52,647 | $26,281 | | Income (loss) from operations | $224,950 | $(64,874) | $(289,824) | | Net earnings (loss) | $168,573 | $(40,110) | $(208,683) | | Basic EPS | $0.59 | $(0.14) | $(0.73) | | Diluted EPS | $0.54 | $(0.14) | $(0.68) | Condensed Consolidated Statements of Stockholders' Equity Total shareholders' equity decreased from $1.23 billion at December 31, 2022, to $1.21 billion at March 31, 2023, primarily due to the net loss incurred Stockholders' Equity Summary | Metric | Dec 31, 2022 (in thousands) | Mar 31, 2023 (in thousands) | Change | | :---------------------------------- | :-------------------------- | :-------------------------- | :----- | | Total Shareholders' Equity | $1,233,277 | $1,208,500 | $(24,777) | | Shares issued and RSUs vested | 286,851,595 | 288,426,514 | 1,574,919 | | Stock-based compensation expense | - | $15,474 | $15,474 | | Net loss | - | $(40,110) | $(40,110) | Condensed Consolidated Statements of Cash Flows Operating cash flow shifted from a $100.22 million inflow in Q1 2022 to a $44.06 million outflow in Q1 2023, mainly due to net loss and increased R&D Cash Flow Summary | Metric | Three months ended Mar 31, 2022 (in thousands) | Three months ended Mar 31, 2023 (in thousands) | Change | | :---------------------------------- | :--------------------------------------------- | :--------------------------------------------- | :----- | | Net cash provided by (used in) operating activities | $100,219 | $(44,063) | $(144,282) | | Net cash used in investing activities | $(26,371) | $(149,609) | $(123,238) | | Net cash used in financing activities | $(3,131) | $(458) | $2,673 | | Net increase (decrease) in cash and cash equivalents | $70,513 | $(194,343) | $(264,856) | Notes to Unaudited Condensed Consolidated Financial Statements These notes provide detailed explanations of the condensed consolidated financial statements, covering operations, policies, and financial instruments Note 1. Nature of operations - AbCellera's mission is to accelerate antibody drug discovery and development, partnering with companies to build a diversified portfolio of royalty stakes in future antibody drugs[22] Note 2. Basis of presentation - The unaudited interim condensed consolidated financial statements are prepared in accordance with U.S. GAAP and SEC rules for interim financial information, reflecting normal recurring adjustments[23][24] Note 3. Significant accounting policies - The preparation of financial statements requires management to make estimates and assumptions, particularly for revenue recognition, fair value of acquired intangible assets, contingent consideration payable, and stock-based compensation awards[25] Note 4. Net earnings (loss) per share Net Earnings (Loss) Per Share | Metric | Three months ended Mar 31, 2022 | Three months ended Mar 31, 2023 | | :-------------------------------------------------- | :------------------------------ | :------------------------------ | | Net earnings (loss) per share attributable to common shareholders - basic | $0.59 | $(0.14) | | Net earnings (loss) per share attributable to common shareholders - diluted | $0.54 | $(0.14) | | Weighted-average common shares outstanding - basic | 283,895,020 | 287,767,136 | | Weighted-average common shares outstanding - diluted | 311,482,017 | 287,767,136 | - Potentially dilutive securities (stock options and RSUs) were excluded from diluted net loss per share for Q1 2023 because their effect would be anti-dilutive, resulting in basic and diluted EPS being the same[28] Note 5. Property and equipment, net Property and Equipment, Net | Category | December 31, 2022 (in thousands) | March 31, 2023 (in thousands) | | :-------------------------------- | :------------------------------- | :------------------------------ | | Property and equipment, net | $217,255 | $233,187 | | Depreciation expense (3 months) | $1,400 | $2,900 | - Leasehold improvements include tenant improvements in progress of $38.9 million as of March 31, 2023, which have not yet commenced depreciation[31] Note 6. Intangible assets Intangible Assets Net Book Value | Category | Net book value (March 31, 2023, in thousands) | | :--------- | :-------------------------------------------- | | License | $18,016 | | Technology | $46,819 | | IPR&D | $64,010 | | Total | $128,845 | Estimated Amortization Expense | Year | Estimated Amortization Expense (in thousands) | | :--- | :-------------------------------------------- | | 2024 | $10,599 | | 2025 | $4,241 | | 2026 | $4,241 | | 2027 | $4,241 | | 2028 | $4,241 | | Total | $27,563 | Note 7. Investments in and loans to equity accounted investees, and other long-term assets - The company has two 50% joint ventures, Dayhu JV and Beedie JV, for the construction of future office and laboratory headquarters[34] - As of March 31, 2023, the equity investment balance in Dayhu JV was $41.3 million, and a new loan of $34.0 million was issued to Dayhu in January 2023[35][36] - As of March 31, 2023, the equity investment balance in Beedie JV was $16.3 million, and a land loan of $5.5 million was committed to Beedie[37][39] Note 8. Current assets and liabilities Current Assets and Liabilities | Category | December 31, 2022 (in thousands) | March 31, 2023 (in thousands) | | :-------------------------------- | :------------------------------- | :------------------------------ | | Other current assets | $75,413 | $99,155 | | Accounts payable and other liabilities | $33,150 | $31,814 | Note 9. Shareholders' equity Stock Option Activity (Pre-IPO Plan) | Stock Option Activity (Pre-IPO Plan) | Dec 31, 2022 | Mar 31, 2023 | | :----------------------------------- | :----------- | :----------- | | Outstanding Shares | 33,694,150 | 32,606,979 | | Weighted-Average Exercise Price | $0.90 | $0.91 | Stock Option Activity (2020 Plan) | Stock Option Activity (2020 Plan) | Dec 31, 2022 | Mar 31, 2023 | | :-------------------------------- | :----------- | :----------- | | Outstanding Shares | 12,322,933 | 13,804,391 | | Weighted-Average Exercise Price | $14.81 | $14.33 | RSU Activity (2020 Plan) | RSU Activity (2020 Plan) | Dec 31, 2022 | Mar 31, 2023 | | :----------------------- | :----------- | :----------- | | Outstanding Shares | 3,946,985 | 4,433,055 | | Weighted-Average Grant Fair Value | $13.71 | $12.87 | Stock-based Compensation Expense | Stock-based Compensation Expense (in thousands) | Three months ended Mar 31, 2022 | Three months ended Mar 31, 2023 | | :---------------------------------------------- | :------------------------------ | :------------------------------ | | Research and development | $5,937 | $7,496 | | Sales and marketing | $994 | $1,271 | | General and administrative | $5,360 | $6,707 | | Total | $12,291 | $15,474 | Note 10. Revenue Deferred Revenue | Deferred Revenue (in thousands) | Dec 31, 2021 | Mar 31, 2022 | Dec 31, 2022 | Mar 31, 2023 | | :------------------------------ | :----------- | :----------- | :----------- | :----------- | | Deferred revenue | $34,954 | $35,861 | $41,128 | $37,223 | - The company recognized $4.8 million of revenue in Q1 2023 that had been included in deferred revenue from the previous year, an increase from $2.7 million in Q1 2022[52] Note 11. Financial instruments - The company categorizes financial assets and liabilities measured at fair value into a three-level hierarchy, with most approximating fair value and classified as Level 2[53][54] Marketable Securities | Marketable Securities (March 31, 2023, in thousands) | Level 1 | Level 2 | Level 3 | Total | | :----------------------------------- | :------ | :------ | :------ | :------ | | U.S. government agencies | $108,117 | $- | $- | $108,117 | | Certificate of deposit | $- | $260,756 | $- | $260,756 | | Commercial paper | $- | $68,129 | $- | $68,129 | | Corporate bonds | $- | $144,526 | $- | $144,526 | | Asset backed securities | $- | $21,950 | $- | $21,950 | | Total | $108,117 | $495,361 | $- | $603,478 | Contingent Consideration | Contingent Consideration (in thousands) | Liability at beginning of period (Dec 31, 2022) | Increase (decrease) in fair value | Liability at end of period (Mar 31, 2023) | | :------------------------------------ | :---------------------------------------------- | :-------------------------------- | :------------------------------------------ | | Trianni | $23,505 | $(2,602) | $20,903 | | TetraGenetics | $36,760 | $946 | $37,706 | Note 12. Commitments and contingencies - Royalty fees expensed decreased from $44.6 million in Q1 2022 to nil in Q1 2023[61] - Accrued royalties payable decreased from $19.3 million at December 31, 2022, to $3.1 million at March 31, 2023[61] - No amounts have been accrued related to the repayment terms of the Canadian government's Strategic Innovation Fund (SIF) Phase 2 funding, as conditions are estimated to be non-probable as of March 31, 2023[62] Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Management discusses Q1 2023 financial condition and operations, highlighting decreased revenue, net loss, and R&D investments CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS - The report contains forward-looking statements regarding plans, objectives, future revenue, performance, and capital expenditures, which are subject to risks and uncertainties[64] - Actual results may differ materially from expectations due to factors like market acceptance, competition, partner success, R&D investments, and global economic conditions[65][66][67] Overview - AbCellera's mission is to bring better antibody drugs to patients faster by building an integrated engine for antibody drug discovery and development[71] - Partnership agreements include near-term payments (technology access, research fees) and downstream payments (clinical/commercial milestones, royalties on net sales)[72] - The company plans significant investments in R&D to enhance its engine, including building new headquarters and a small-scale manufacturing facility, and expanding operations[72] - As of March 31, 2023, AbCellera had 177 discovery programs under contract with 41 partners, adding three new programs and advancing one molecule into the clinic in Q1 2023[73] Results of operations (Summary Table) Results of Operations Summary | Metric | Three Months Ended March 31, 2022 (in thousands) | Three Months Ended March 31, 2023 (in thousands) | Change (in thousands) | Change % | | :---------------------------------- | :----------------------------------------------- | :----------------------------------------------- | :-------------------- | :------- | | Total Revenue | $316,581 | $12,192 | $(304,389) | (96)% | | Total Operating Expenses | $91,631 | $77,066 | $(14,565) | (16)% | | Income (loss) from operations | $224,950 | $(64,874) | $(289,824) | (129)% | | Net earnings (loss) | $168,573 | $(40,110) | $(208,683) | (124)% | | Basic EPS | $0.59 | $(0.14) | $(0.73) | (124)% | | Diluted EPS | $0.54 | $(0.14) | $(0.68) | (126)% | Key Factors Affecting Our Results of Operations and Future Performance - Future revenue growth is dependent on securing additional programs under contract and partners successfully developing and commercializing discovered antibodies[77] - The majority of potential value for each program is in future milestone payments and royalties, making partner success critical[77] - Significant investments in R&D are expected to enhance the discovery and development engine, impacting financial performance[77] - Operational scaling, including new facilities and increased headcount, will lead to increased operating expenses[77] Key Business Metrics Cumulative Business Metrics | Cumulative Metrics | March 31, 2022 | March 31, 2023 | Change % | | :------------------------- | :------------- | :------------- | :------- | | Number of discovery partners | 36 | 41 | 14 % | | Programs under contract | 158 | 177 | 12 % | | Partnered program starts | 84 | 101 | 20 % | | Molecules in the clinic | 6 | 9 | 50 % | - Molecules in the clinic include Bamlanivimab and Bebtelovimab (Marketed, EUA for COVID-19), TAK920/DNL919 (Phase 1 for Alzheimer's), and NBL-012/NBL-015/FL-301/NBL-020 (Phase 1/IND/CTA authorized for various indications)[80] Summary partnership agreements with pharmaceutical and biotechnology companies that include downstream participation - The company has numerous partnership agreements with pharmaceutical and biotechnology companies, including recent agreements with RQ Biotechnology Ltd., AbbVie Inc., and Rallybio Corporation in 2022-2023[85] - These partnerships cover a range of therapeutic indications and modalities, from infectious disease to oncology and neurology, with varying numbers of targets and multi-year durations[85] Results of Operations (Detailed Comparison) Revenue Revenue by Type | Revenue Type | Three Months Ended March 31, 2022 (in thousands) | Three Months Ended March 31, 2023 (in thousands) | Change (in thousands) | Change % | | :------------------ | :----------------------------------------------- | :----------------------------------------------- | :-------------------- | :------- | | Research fees | $9,333 | $10,570 | $1,237 | 13 % | | Licensing revenue | $231 | $372 | $141 | 61 % | | Milestone payments | $- | $1,250 | $1,250 | 100 % | | Royalty revenue | $307,017 | $- | $(307,017) | (100)% | | Total revenue | $316,581 | $12,192 | $(304,389) | (96)% | - The 96% decrease in total revenue was primarily due to the absence of royalty revenue from bebtelovimab, which was no longer authorized for emergency use in the U.S. in Q4 2022[88] Operating Expenses Royalty Fees Royalty Fees | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2023 | Change | | :------------- | :-------------------------------- | :-------------------------------- | :----- | | Royalty fees | $44,637 | $- | $(44,637) | - Royalty fees decreased by 100% due to the cessation of royalty revenues from Eli Lilly's sales of bamlanivimab and bebtelovimab[89] Research and Development Research and Development Expenses | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2023 | Change | | :------------------------- | :-------------------------------- | :-------------------------------- | :----- | | Research and development | $26,366 | $52,647 | $26,281 | - R&D expenses increased by 100%, reflecting continued growth in program execution, platform development, forward integration, and specific one-time investments in co-development and pre-partnered programs[90] Sales and Marketing Sales and Marketing Expenses | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2023 | Change | | :---------------- | :-------------------------------- | :-------------------------------- | :----- | | Sales and marketing | $2,370 | $3,771 | $1,401 | - Sales and marketing expenses increased by 59%, driven by business development activity, consulting fees, and compensation costs[91] General and Administrative General and Administrative Expenses | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2023 | Change | | :--------------------------- | :-------------------------------- | :-------------------------------- | :----- | | General and administrative | $14,268 | $15,134 | $866 | - General and administrative expenses increased by 6%, primarily due to compensation-related expenses from increased headcount and higher software, licensing, and facility expenses[92] Depreciation and Amortization Depreciation and Amortization Expenses | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2023 | Change | | :-------------------------- | :-------------------------------- | :-------------------------------- | :----- | | Depreciation and amortization | $3,990 | $5,514 | $1,524 | - Depreciation and amortization expenses increased by 38% due to the depreciation of equipment and facilities related to capital equipment purchases[93] Interest (Income) Interest (Income) | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2023 | Change | | :------------------ | :-------------------------------- | :-------------------------------- | :----- | | Interest (income) | $(665) | $(9,759) | $(9,094) | - Interest income increased by 1368%, primarily driven by higher interest rates on cash, cash equivalents, and marketable securities[94] Grants and incentives Grants and Incentives | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2023 | Change | | :------------------------ | :-------------------------------- | :-------------------------------- | :----- | | Grants and incentives | $(5,194) | $(3,374) | $1,820 | - Grants and incentives decreased by 35%, mainly due to reduced activity related to eligible R&D expenditures for the SIF project[95] Other Other Income/Expense | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2023 | Change | | :------ | :-------------------------------- | :-------------------------------- | :----- | | Other | $- | $(3,593) | $(3,593) | - Other income increased by $3.6 million, driven by a $3.5 million gain on fair value adjustments related to held-for-trading marketable securities and contingent consideration[96] Income Tax (Recovery) Expense Income Tax (Recovery) Expense | Metric | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2023 | Change | | :---------------------------------- | :-------------------------------- | :-------------------------------- | :----- | | Income tax (recovery) expense | $62,236 | $(8,038) | $(70,274) | - Income tax expense decreased by $70.3 million, shifting to a recovery, primarily due to the net loss incurred and changes in effective income tax rates[97] Liquidity and Capital Resources - As of March 31, 2023, the company had $796.5 million in cash, cash equivalents, and marketable securities, a decrease of $90.0 million since December 31, 2022[98] - The decrease was primarily due to increased research and development activity and continued investment in the company's discovery and development engine[98] - Management believes existing capital and anticipated cash flows will be sufficient for at least the next 36 months, despite expecting operating losses from significant investments[99] Cash Flows Cash Flow Summary | Cash Flow Activity | Three Months Ended March 31, 2022 (in thousands) | Three Months Ended March 31, 2023 (in thousands) | Change (in thousands) | | :---------------------------------- | :----------------------------------------------- | :----------------------------------------------- | :-------------------- | | Operating activities | $100,219 | $(44,063) | $(144,282) | | Investing activities | $(26,371) | $(149,609) | $(123,238) | | Financing activities | $(3,131) | $(458) | $2,673 | | Net increase (decrease) in cash and cash equivalents | $70,513 | $(194,343) | $(264,856) | Operating activities - Net cash provided by operating activities decreased from a $100.2 million inflow in Q1 2022 to a $44.1 million outflow in Q1 2023[102] - The decrease is attributable to the absence of royalty revenue and a reduction in royalty-related payments, coupled with increased expenditures in R&D and company growth[103] Investing activities - Net cash used in investing activities increased from $26.4 million in Q1 2022 to $149.6 million in Q1 2023[104] - This increase was primarily due to purchases of property and equipment, long-term investments, and marketable securities[104] Financing activities - Net cash used in financing activities decreased from $3.1 million in Q1 2022 to $0.5 million in Q1 2023[105] - The decrease was due to lower contingent consideration payments, partly offset by proceeds from the exercise of stock options[105] Critical Accounting Policies and Significant Judgements and Estimates - There have been no significant changes to the company's critical accounting policies and estimates during the three months ended March 31, 2023[106] Item 3. Quantitative and Qualitative Disclosures About Market Risk The company's exposure to market risk has not materially changed since the annual report on Form 10-K for December 31, 2022 - No material change in market risk exposure since December 31, 2022[107] Item 4. Controls and Procedures CEO and CFO concluded disclosure controls were effective as of March 31, 2023, with no material changes in internal control - The CEO and CFO concluded that disclosure controls and procedures were effective as of March 31, 2023[108] - There were no material changes in internal control over financial reporting during the period covered by this Quarterly Report[109] PART II. OTHER INFORMATION Item 1. Legal Proceedings The company is involved in ongoing patent infringement and civil lawsuits, with no material changes since the last annual report - The Patent Trial & Appeals Board (PTAB) upheld the validity of all challenged claims of U.S. Patent No. 10,087,408 in the Inter Partes Review against Berkeley Lights, Inc[111] - A decision on the company's motion to lift the stay in the patent litigation against Berkeley Lights is pending[111] - The company is defending against a civil lawsuit by the Estate of John William Schrader et al., alleging breach of implied partnership and patent infringement, which it believes is meritless[112] Item 1A. Risk Factors This section details risks including historical losses, revenue fluctuations, R&D investments, competition, and intellectual property Risks Related to Our Business and Strategy - The company has incurred losses and anticipates significant future losses due to substantial investments in R&D, marketing, acquisitions, and infrastructure[114][115] - Revenue has fluctuated significantly, with Q1 2023 showing no royalty revenue from COVID-19 antibodies, which previously accounted for a large portion of revenue[117][118] - The company may need to raise additional capital for expansion, strategic investments, and operations, which could lead to dilution or restrictive debt covenants[122][123][125] - Commercial success depends on the quality and acceptance of its antibody discovery and development engine by new and existing partners, requiring continuous innovation and R&D investment[128][129] - Rapid growth requires effective management of headcount, facility expansion (e.g., new GMP facility), and operational systems, posing risks of delays, increased costs, and quality issues[146][148] - Reliance on a limited number of suppliers for laboratory equipment and materials creates vulnerability to shortages, price fluctuations, and delays[211][214] - Recent acquisitions (Trianni, TetraGenetics) involve integration challenges, potential unknown liabilities, and uncertainties regarding the realization of anticipated benefits[221][222][224] Risks Related to Our Intellectual Property - Inability to obtain and maintain sufficient patent, trademark, copyright, and trade secret protection could allow competitors to develop similar technologies, impairing sales and competitive advantage[225][226][227] - Issued patents may be found invalid or unenforceable if challenged, leading to loss of exclusivity or narrowed claims[237] - Reliance on in-licenses from third parties means loss of these rights or disputes could materially impact business and development capabilities[241][242] - Protecting intellectual property worldwide is expensive and challenging, with varying levels of protection and enforcement in different countries[251][252] - Difficulty in protecting the confidentiality of unpatented know-how and trade secrets could harm competitive position if disclosed or independently developed[256][258] - Involvement in intellectual property litigation (e.g., with Berkeley Lights, Schrader) is time-intensive, costly, and can divert management attention, potentially leading to adverse outcomes like damages or injunctions[267][274][277][282] - Intellectual property developed with U.S. government funding may be subject to "march-in" rights and manufacturing preferences, limiting exclusive rights[291] Risks Related to Ownership of Our Common Shares - Failure to maintain proper and effective internal control over financial reporting could harm operating results and business operations[292][293] - Future sales of common shares or equity awards could result in dilution for existing shareholders[294][295] - The company does not intend to pay dividends, so returns are limited to share price appreciation[297] - Principal shareholders and management own a significant percentage, allowing them to exert influence over shareholder approval matters[298] - Potential adverse U.S. federal income tax consequences for U.S. Holders if the company or its non-U.S. subsidiaries are classified as Controlled Foreign Corporations (CFCs) or Passive Foreign Investment Companies (PFICs)[314][319] - Changes in tax law or interpretations could increase tax liabilities or compliance costs[322][323] General Risk Factors - The ongoing COVID-19 pandemic has caused and may continue to cause delays, disruptions, and increased costs, impacting R&D, operations, and sales[326][327][328] - The ongoing military action between Russia and Ukraine and related sanctions could adversely affect the business, financial condition, and patent administration[329][330] - Potential impairment charges for goodwill, identifiable intangible assets, or other long-lived assets from acquisitions could impact results and stock value[331] - The market price of common shares is highly volatile due to various factors, including financial results, competition, and general economic conditions[334][337] - Adverse developments in the financial services industry (e.g., bank failures) could impact liquidity, access to funds, and the ability to meet obligations[341][342][344] Item 2. Unregistered Sales of Equity Securities and Use of Proceeds No unregistered sales of equity securities or use of proceeds to report for the period - No unregistered sales of equity securities or use of proceeds to report[346] Item 5. Other Information No other information to report for the period - No other information to report[346] Item 6. Exhibits This section lists exhibits filed with this Quarterly Report on Form 10-Q, including certifications and XBRL documents - Includes certifications of Principal Executive Officer and Principal Financial Officer (Exhibits 31.1, 31.2, 32.1, 32.2)[348] - Includes Inline XBRL Instance Document and Taxonomy Extension Documents (Exhibits 101.INS, 101.SCH, 101.CAL, 101.DEF, 101.LAB, 101.PRE)[348] Signatures The report was duly signed on May 4, 2023, by the CEO and CFO of AbCellera Biologics Inc - The report was signed by Carl L.G. Hansen, Ph.D., Chief Executive Officer, and Andrew Booth, Chief Financial Officer, on May 4, 2023[350]