Canada's AbCellera Q3 revenue beats analyst estimates

Overview

• Canada biotech firm's Q3 revenue rose, beating analyst expectations

• Net loss narrowed to $40.8 mln from $57.1 mln a year earlier

• Company completed $200 mln capital raise, boosting liquidity to over $890 mln

Outlook

• AbCellera expects to initiate late-stage development for ABCL635 in menopausal VMS in 2027

• Company plans clinical trials for ABCL635 in breast and prostate cancer-related VMS in 2027

Result Drivers

• CLINICAL TRIAL PROGRESS - Co highlighted positive top-line Phase 2 results for ABCL635 and Phase 1 results for ABCL575 as key milestones in the qtr

• PIPELINE EXPANSION - Three new programs (ABCL992, ABCL385, ABCL646) advanced to IND-enabling activities during the qtr

• LOWER OPERATING EXPENSES - R&D and SG&A expenses both declined compared to prior year, contributing to narrower net loss

Company press release: ID:nBw4RJVsha

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for AbCellera Biologics Inc. is $15.00, about 26.3% above its November 6 closing price of $11.88

Reuters Recommended Reads

• Nov 9 - Bicara Therapeutics Q3 net loss widens on higher R&D costs

• Nov 9 - ADC Therapeutics Q3 revenue beats estimates on sales volume

• Nov 9 - Ionis Pharmaceuticals Q3 revenue rises 55%

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)