Transition to Clinical-Stage Biotech
AbCellera completed its transition from a platform company to a clinical-stage biotech with the initiation of Phase I clinical trials for ABCL635 and ABCL575, both of which are progressing as planned.
Strong Liquidity Position
AbCellera ended the quarter with approximately $680 million in available liquidity, including $520 million in cash and cash equivalents and $160 million in available committed government funding.
New Clinical Manufacturing Facility
Activities have started at AbCellera's new clinical manufacturing facility, and platform investments are substantially complete.
Appointment of New Chief Medical Officer
Dr. Sarah Noonberg, a physician-scientist with over 20 years of clinical drug development experience, was appointed as the new Chief Medical Officer.
Increase in Revenue
Revenue for the quarter was $9 million, up from $7 million in the same quarter of last year, predominantly from research fees relating to work on partnered programs.