AbCellera Biologics Reports Strong Business Update and Strategic Partnerships in Q1 2024
Wednesday, 8 May 2024, 08:30
AbCellera Biologics Q1 2024 Earnings Review
Progress:
- Advancing internal pipeline programs ABCL635 and ABCL575
- Completing platform investments for clinical manufacturing capabilities
- Strategic partnerships focused on TCE platform development
Partnerships:
- New collaboration with Biogen for novel target delivery
- Collaboration with Viking and ArrowMark for asset-based companies
Financials:
Reported revenue of $10 million driven by research fees; R&D expenses down due to prior-year one-time costs; Net loss of $41 million with strong liquidity of $725 million.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.