AbCellera Q1 2024 revenue $10.0M, net loss $40.6M; pipeline metrics grow

AbCellera Biologics Inc.

2024-Q1 EPS reported -$0.14 revenue$9,954,000

Revenue of $10.0M ($9.8M research fees, $0.2M licensing) down 18% from $12.2M in Q1 2023.
Net loss of $40.6M ($0.14 per share) compared to net loss of $40.1M in Q1 2023.
R&D expenses fell to $39.3M from $52.6M; cash & securities $725.3M plus $240M non-dilutive funding.
Cumulative partner-initiated program starts 90 (up 20% YoY) and molecules in clinic 13 (up 44% YoY).
Announced collaborations with Biogen for neurological antibodies and with Viking/ArrowMark to launch biotechs.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AbCellera Biologics Inc. reported quarter ended March 31, 2024 results: revenue $10.0 million, net income Net loss of $40.6 million, EPS $(0.14) per share.

Period: quarter ended March 31, 2024
Revenue: $10.0 million
Net income: Net loss of $40.6 million
EPS: $(0.14) per share
Result: reported results

Exact text from the filing

● Revenue – Total revenue was $10.0 million, compared to $12.2 million in Q1 2023. Partnerships generated research fees of $9.8 million, compared to $10.6 million in Q1 2023. Licensing revenue was $0.2 million. ● Research & Development (R&D) Expenses – R&D expenses were $39.3 million, compared to $52.6 million in Q1 2023, reflecting underlying continued growth in program execution, platform development, and investments in internal programs, partially offset by the non-recurrence of specific one-time investments in co-development and internal programs. ● Sales & Marketing (S&M) Expenses – S&M expenses were $3.4 million, compared to $3.8 million in Q1 2023. ● General & Administrative (G&A) Expenses – G&A expenses were $17.4 million, compared to $15.1 million in Q1 2023. ● Net Loss – Net loss of $40.6 million, or $(0.14) per share on a basic and diluted basis, compared to net loss of $40.1 million, or $(0.14) per share on a basic and diluted basis in Q1 2023.

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Source: SEC EDGAR

accession 0001628280-24-021115

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