Question-and-Answer SessionSo just to level set for investors, Martin, could you give a quick overview of the company, the AbCellera platform, what you've built over the last decade and where you are with partnered and pre-partnered programs? And then we'll jump more into a fireside chat program with Q&A.Martin Hogan Absolutely. Well, first of all, thank you for hosting us, Ashleigh. It's a pleasure to be here again. I will be making some forward-looking statements today. Please take a look at our SEC filin ...

AbCellera Biologics FY Conference Summary Company Overview - **Company**: AbCellera Biologics (NasdaqGS:ABCL) - **Event**: FY Conference on December 03, 2025 - **Key Speaker**: Martin Hogan, Senior Director of Strategic Finance and IR Core Company Insights - AbCellera has a strong technological advantage in discovering antibodies from natural immune systems, developed from research at the University of British Columbia [2][3] - The company has engaged in over 100 programs with various pharma and biotech partners, refining its capabilities in antibody discovery, particularly for difficult targets [3][4] - Transitioned from a platform-focused company to a clinical-stage biotech, establishing downstream capabilities in translational biology, biophysical assessments, and clinical manufacturing [5][6] Internal Programs and Pipeline - **ABCL 635**: A non-hormonal treatment for moderate to severe hot flashes associated with menopause, identified as the most advanced program with a clear development path and significant unmet medical need [12][13] - Approximately 40 million menopausal women in the U.S., with one-third suffering from severe symptoms [14] - Current standard of care is menopause hormone therapy, but many women cannot tolerate it, creating a market opportunity for non-hormonal treatments [15] - **ABCL 575**: A treatment for moderate to severe atopic dermatitis, with potential applications in other inflammatory and autoimmune conditions [19][20] - Differentiates by targeting the OX40 ligand, with expectations of a favorable safety profile and longer half-life compared to competitors [21][22] Clinical Trials - **ABCL 635 Phase 1 Trial**: Designed to evaluate pharmacokinetics (PK), pharmacodynamics (PD), safety, and efficacy signals in both menopausal women and healthy male volunteers [16][17] - **ABCL 575 Phase 1 Trial**: Focuses on confirming the molecule's behavior in terms of PK, PD, and safety, with potential for partnerships based on trial outcomes [23][24] Future Pipeline and Development - **ABCL 688**: Expected to enter the clinic in 2026, targeting autoimmune conditions, with further details to be disclosed upon IND submission [25][26] - The company has over 20 internal programs, with a focus on complex membrane proteins and novel mechanisms, selected based on scientific understanding, unmet medical need, differentiation potential, and clear development paths [27] Financial Position and Capital Allocation - AbCellera is well-capitalized with approximately $680 million in available liquidity, sufficient to support its internal pipeline for over three years [28][29] - The capital will primarily be used for advancing internal programs and making selective additions to the pipeline [29] Partnership Strategy - The company has shifted focus from actively seeking new partnerships to prioritizing internal drug development, while still committed to existing partnerships [9][10] - Selective acceptance of new programs may occur if they align with internal criteria and capabilities [10] Conclusion - AbCellera is positioned for growth with a robust internal pipeline and a strong financial foundation, focusing on innovative treatments for significant medical needs while maintaining strategic partnerships where beneficial [30][31]