AbCellera Biologics Inc. ABCL
AbCellera is a clinical-stage biotechnology company focused on discovering and developing first-in-class antibody medicines for indications with high unmet medical need. We have built a platform for advancing antibody drug programs that we believe provides us with a competitive advantage in addressing challenging, high-value targets such as complex transmembrane proteins and novel modalities including multispecifics and antibody-drug conjugates. While we historically used our platform for our partners' programs, we have evolved our strategy to build our own internal pipeline of AbCellera-owned drug assets.
•Initiated clinical trials for our first two internal drug candidates, ABCL635 and ABCL575. Our lead candidate, ABCL635, is a potential first-in-class non-hormonal medicine for moderate-to-severe vasomotor symptoms (VMS), also known as hot flashes. It is currently being evaluated in a Phase 2 clinical trial in Canada for the treatment of moderate-to-severe VMS associated with menopause, and we anticipate the topline data readout for the Phase 1/2 study in Q3 2026. Our second clinical candidate, ABCL575, is being evaluated in a Phase 1 clinical trial in Canada as a potential best-in-class medicine for the treatment of atopic dermatitis and other inflammation and immunology (I&I) conditions. We anticipate the topline data readout for the Phase 1 study of ABCL575 in Q4 2026.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $75.1M | $28.8M | $38.0M | $485.4M | $375.2M | $233.2M | $11.6M | — |
| R&D | $186.8M | $167.3M | $175.7M | $107.9M | $62.1M | $29.4M | $10.1M | — |
| SG&A | $83.2M | $85.5M | $75.2M | $55.5M | $41.8M | $11.9M | $2.7M | — |
| Total operating expenses | $292.2M | $343.6M | $275.2M | $268.9M | $170.8M | $77.1M | $15.7M | — |
| Operating income | -$217.1M | -$314.8M | -$237.2M | $216.5M | $204.4M | $156.0M | -$4.1M | — |
| Pre-tax income | -$177.6M | -$200.4M | -$174.0M | $239.1M | $219.1M | $157.8M | -$2.2M | — |
| Income tax | $31.2M | $37.5M | $27.6M | $80.6M | $65.7M | $38.9M | — | — |
| Net income | -$146.4M | -$162.9M | -$146.4M | $158.5M | $153.5M | $118.9M | -$2.2M | — |
| EPS, basic | -0.49 | -0.55 | -0.51 | 0.56 | 0.56 | 0.53 | -0.01 | — |
| EPS, diluted | -0.49 | -0.55 | -0.51 | 0.50 | 0.48 | 0.45 | -0.01 | — |
| Shares, diluted (wtd. avg.) | 298.7M | 294.3M | 289.2M | 314.8M | 318.3M | 263.1M | 151.3M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $128.5M | $156.3M | $158.3M | $411.5M | $501.1M | $594.1M | — | — |
| Receivables | $39.4M | $32.0M | $0 | — | — | — | — | — |
| Inventory | $6.3M | $0 | — | — | — | — | — | — |
| Total current assets | $728.2M | $751.4M | $872.0M | $1.03B | $929.8M | $813.3M | — | — |
| Property, plant and equipment | — | — | — | $217.3M | $111.6M | $17.9M | — | — |
| Goodwill | $47.8M | $47.8M | $47.8M | $47.8M | $47.8M | $31.5M | — | — |
| Other intangibles | $38.4M | $42.1M | $120.4M | $131.5M | $148.4M | $115.2M | $0 | — |
| Total assets | $1.36B | $1.36B | $1.49B | $1.54B | $1.32B | $1.01B | — | — |
| Accounts payable | $25.2M | $34.4M | $28.6M | $14.8M | $14.9M | $7.3M | — | — |
| Total current liabilities | $64.3M | $76.6M | $119.0M | $118.3M | $120.7M | $103.5M | — | — |
| Total liabilities | $390.0M | $304.5M | $335.8M | $307.6M | $292.8M | $175.0M | — | — |
| Retained earnings | -$29.5M | $116.9M | $279.8M | $426.2M | $267.7M | $114.2M | — | — |
| Total equity | $966.9M | $1.06B | $1.15B | $1.23B | $1.03B | $830.5M | $10.3M | $11.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$131.3M | -$108.6M | -$43.9M | $277.4M | $244.6M | $22.7M | $2.7M | — |
| Depreciation and amortisation | $18.4M | $12.5M | $12.8M | $9.0M | $4.4M | $2.3M | $1.6M | — |
| Stock-based compensation | $55.8M | $67.6M | $64.2M | $49.5M | $30.6M | $8.4M | $890.0K | — |
| Capital expenditure | $42.8M | $78.4M | $76.9M | $70.7M | $58.5M | $9.7M | $4.0M | — |
| Investing cash flow | $87.8M | $121.4M | -$221.1M | -$352.6M | -$332.2M | -$119.8M | -$5.8M | — |
| Financing cash flow | $14.1M | $12.8M | $10.4M | -$1.6M | -$3.9M | $683.7M | $195.0K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001703057-26-000020.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $11.6M | $233.2M | $375.2M | $485.4M | $38.0M | $28.8M | $75.1M |
| Gross profit | — | — | — | — | — | — | — | — |
| Net income | — | -$2.2M | $118.9M | $153.5M | $158.5M | -$146.4M | -$162.9M | -$146.4M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Other event Item 8.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Officer or director change Item 5.02
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 2834
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| LLY | ELI LILLY & Co | $1.20T | 55.5x | 44.7% |
| JNJ | JOHNSON & JOHNSON | $635.76B | 23.9x | 6.0% |
| ABBV | AbbVie Inc. | $504.76B | 121.0x | 8.6% |
| MRK | Merck & Co., Inc. | $358.41B | 20.0x | 1.3% |
| ABT | ABBOTT LABORATORIES | $180.63B | 27.9x | 5.7% |
| PFE | PFIZER INC | $171.16B | 22.1x | -1.6% |
| VRTX | VERTEX PHARMACEUTICALS INC / MA | $132.80B | 34.2x | 8.9% |
| BMY | BRISTOL MYERS SQUIBB CO | $125.59B | 17.8x | -0.2% |