AbCellera Biologics ( (ABCL) ) has issued an update.
AbCellera Biologics reported its financial results for the year 2024, highlighting significant progress in transitioning to a clinical-stage biotech company. The company maintained a strong cash position with over $800 million in liquidity and is set to initiate Phase 1 clinical trials for its first two programs in 2025. Despite a net loss of $162.9 million, AbCellera advanced three additional molecules into the clinic, bringing the total to 16, and started nine new partner-initiated programs, reflecting its continued growth and strategic investments.
More about AbCellera Biologics
AbCellera Biologics is a biotechnology company that discovers and develops antibody medicines for various therapeutic areas, including cancer, metabolic and endocrine conditions, and autoimmune disorders. The company leverages technology, data science, and interdisciplinary teams to tackle complex antibody discovery challenges and focuses on advancing an internal pipeline of innovative drug development programs.
YTD Price Performance: -3.63%
Average Trading Volume: 3,509,149
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $862.5M
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