In This Article:
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Revenue: Approximately $29 million for the year, primarily from research fees on partnered programs, compared to $38 million in 2023.
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Net Loss: Roughly $163 million for the year, compared to a loss of about $146 million the previous year.
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Earnings Per Share: Loss of $0.55 per share on a basic and diluted basis.
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Cash and Equivalents: Over $650 million at year-end, with approximately $840 million in total available liquidity including government funding commitments.
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Research and Development Expenses: Approximately $167 million, $8 million less than the previous year.
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General Administration Expenses: Approximately $73 million, up from $61 million in 2023, mainly due to intellectual property defense costs.
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Cash Flow from Operating Activities: Used approximately $110 million of cash and equivalents in 2024.
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Investment in Property, Plant, and Equipment: Over $78 million, driven by CMC and GMP manufacturing capabilities development.
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Available Liquidity: Approximately $840 million, including cash, equivalents, and unused government funding.
Release Date: February 27, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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AbCellera Biologics Inc (NASDAQ:ABCL) advanced two programs, ABCL 635 and ABCL 575, which are positioned for CTA filing in Q2 2025.
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The company completed its move into a new headquarters and is on track to bring its clinical manufacturing facility online in 2025.
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ABCL closed the year with over $800 million in available liquidity, providing a strong financial position to execute its strategy.
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The company has a robust portfolio of more than 20 pre-clinical programs with potential for high differentiation.
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ABCL has a demonstrated competitive advantage in creating therapeutic antibodies, positioning it well in the market.
Negative Points
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ABCL reported a net loss of approximately $163 million for the year, an increase from the previous year's loss.
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Revenue for the year was almost $29 million, a decrease from approximately $38 million in 2023.
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The company is reducing new discovery partnership activities, which may impact future revenue streams.
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There are risks associated with ABCL 575 being in a competitive space with modest differentiation.
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ABCL's transition from a platform and partnership model to a clinical stage biotech involves significant strategic and operational changes.
Q & A Highlights
Q: How does AbCellera plan to manage clinical trials across multiple disease areas given its indication agnostic approach? A: Carl L. Hansen, CEO, explained that AbCellera is building its translational science and clinical development teams to support its programs. The company is hiring and recruiting based on the areas where they see the best opportunities as programs progress, ensuring they have the necessary expertise in place on time.