Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, October 27, 2023

Article Excerpt

ABCELLERA BIOLOGICS INC., $3.91, symbol ABCL on Nasdaq, launched its IPO in December 2020, when it sold shares to the public at $20 each. Early investors included Peter Thiel, DCVC Bio, and Viking Global. The company isn’t so much a pharmaceutical firm, but instead provides an artificial intelligence-powered R&D platform that aims to speed up the drug development process. AbCellera’s machine-learning technology is built into its exclusive software platform, called Celium; it lets the company screen and identify antibodies based on numerous parameters including their biochemical properties. In the quarter ended June 30, 2023, AbCellera’s revenue was $10.1 million, down sharply from $45.9 million a year earlier. Revenue was lower due to the absence of certain royalty payments. The company lost $30.4 million, or $0.11 a share, in the quarter. That’s compared to a loss of $7.0 million, or $0.02. AbCellera has 177 programs under contract with 41 different partners. Here’s one example: AbCellera recently announced that it has expanded its existing multi-target collaboration with Regeneron (symbol…