ABCL · AbCellera Biologics Inc.

AbCellera's Q1 2026 results showed revenue growth to $8.3 million from $4.2 million year-over-year, driven by research fees rising to $8.1 million, while licensing and royalties remained modest at $0.2 million. R&D expenses increased to $46.7 million from $42.5 million, reflecting ongoing investment in clinical programs like ABCL635 and ABCL575, as well as preclinical advancement of ABCL386 and ABCL688. SG&A expenses declined significantly to $12.3 million from $19.1 million, contributing to a narrower net loss of $43.2 million or $(0.14) per share versus $45.6 million or $(0.15) per share last year. CEO Carl Hansen highlighted excitement over ABCL635 interim Phase 1 data, noting robust NK3R target engagement in healthy volunteers with a pharmacokinetic profile supporting once-monthly subcutaneous dosing and no liver toxicity observed. The company ended the quarter with strong liquidity of approximately $655 million, comprising $531 million in cash, cash equivalents, and marketable securities plus $124 million in non-dilutive government funding, positioning it to fund strategy execution including upcoming Phase 2 readout for ABCL635 in Q3 2026. Business metrics indicated 40 partner-led programs with downstream stakes, down slightly from 44, and 14 molecules in clinic, underscoring a focused pipeline progression amid clinical advancements.