ABCL News
R40 coverage and dated third-party headlines for AbCellera Biologics Inc. (ABCL).
R40 Coverage
AbCellera Spent $1 Billion Building an Antibody Factory. ABCL635 Is Its First Real Test.
AbCellera has moved from selling antibody discovery work to owning the drugs its platform creates: the $1B factory, four disclosed programs, and the risk.
AbCellera Joins Coverage and Five of Its Last Eight Quarters Cannot Be Scored.
AbCellera joins coverage with five of its last eight quarters unscoreable: a +587.4% FCF margin on $4.1M of revenue breaks the Rule of 40's own arithmetic.
August 2026
AbCellera prices $200 million offering at $9.75
17,435,897 common shares plus pre-funded warrants for 3,076,926 more, priced three days after the ABCL635 Phase 2 readout and roughly 11% below the prior close. Net proceeds about $188 million.
ABCL635 meets both Phase 2 primary endpoints
A single subcutaneous 600 mg dose cut moderate-to-severe vasomotor symptom frequency 83% at week 4 against 33% for placebo (n=92, p<0.001), with no serious adverse events. Stock closed up 35% on 46 million shares.
Q2 2026: revenue $4.1M, net loss $55.4M
Revenue fell 76% year over year as licensing and royalty revenue went to $0.1 million. Operating cash flow turned positive on $44 million of deferred revenue from the Jazz upfront. $540 million of cash and marketable securities at quarter end.
July 2026
Vertex T-cell engager collaboration
$28 million in total upfront payments plus milestones and tiered royalties, for multispecific T-cell engagers in autoimmune disease. The second TCE deal of the quarter after Jazz's $84 million.