Abcellera Biologics Inc. Stock Price, News & Analysis

AbCellera (Nasdaq: ABCL) announced that bamlanivimab (LY-CoV555) 700 mg, developed with Eli Lilly, received Emergency Use Authorization (EUA) from the FDA for treating mild to moderate COVID-19 in high-risk patients. The therapy demonstrated a 70% reduction in hospitalizations in the Phase 3 BLAZE-1 trial, which involved over 1,000 patients. Lilly plans to manufacture over 250,000 doses in Q1 2021. Bamlanivimab, developed from an antibody discovered in a recovered COVID-19 patient, is part of AbCellera's pandemic response efforts, identifying over 2,300 unique antibodies.

AbCellera (Nasdaq: ABCL) is set to announce its fourth-quarter and full-year 2020 financial results on March 29, 2021, after U.S. market close. An earnings conference call will follow at 2:00 p.m. PT (5:00 p.m. ET). The live webcast will be accessible via AbCellera’s Investor Relations website, with a replay available post-call.

AbCellera specializes in discovering and analyzing antibodies for drug development, collaborating with various drug developers to streamline processes and reduce costs.

AbCellera (Nasdaq: ABCL) announced that its antibody, bamlanivimab, will be evaluated alongside VIR-7831 as a potential COVID-19 therapy for low-risk patients with mild to moderate illness. Bamlanivimab has been shown to reduce the risk of COVID-19 by up to 80%, prevent deaths, and decrease hospitalizations by 70%-80%. Currently authorized in multiple countries, bamlanivimab was developed in partnership with Eli Lilly and has been administered to over 100,000 patients since receiving Emergency Use Authorization from the FDA in November 2020.

AbCellera (Nasdaq: ABCL) has announced compelling results from the BLAZE-1 Phase 2/3 study, where bamlanivimab and etesevimab significantly reduced COVID-19-related hospitalizations and deaths by 70% compared to placebo. In a trial involving over 1,000 high-risk patients, all deaths occurred in the placebo group. Bamlanivimab was the first monoclonal antibody authorized by the FDA for COVID-19 treatment. AbCellera continues to enhance its pandemic response capabilities, having identified over 2,300 unique anti-SARS-CoV-2 antibodies.

AbCellera (Nasdaq: ABCL) announced that its antibody, bamlanivimab (LY-CoV555), demonstrated a significant reduction in COVID-19 risk among long-term care residents and staff in the Phase 3 BLAZE-2 trial. Data showed an up to 80% risk reduction in COVID-19 contraction for residents receiving bamlanivimab compared to placebo. Importantly, no COVID-19 related deaths were reported in the bamlanivimab group. The trial, in partnership with Lilly and NIAID, highlights the potential of bamlanivimab in preventing COVID-19, especially among vulnerable populations.

AbCellera (Nasdaq: ABCL) has expanded its intellectual property portfolio with the issuance of patent no. 10,881,084 for its Trianni Mouse® technology, aimed at enhancing antibody discovery. This technology allows the generation of fully human monoclonal antibodies, significantly increasing the speed and efficiency of therapeutic antibody development with partners. Carl Hansen, CEO, emphasized the patent's importance for protecting their proprietary technology in the U.S. The Trianni Mouse® platform is a key asset for developing advanced transgenic mouse technologies.

AbCellera (Nasdaq: ABCL) announced that bamlanivimab (LY-CoV555), developed with Eli Lilly, will undergo a new pragmatic study targeting high-risk COVID-19 patients. This collaboration, with support from New Mexico, aims to evaluate bamlanivimab's effectiveness and safety in diverse environments. The antibody, authorized in the U.S. and Canada, has demonstrated success in reducing viral load and hospitalizations in previous studies. This initiative aligns with AbCellera's efforts in pandemic response, showcasing its capabilities developed over two years under DARPA's program.

AbCellera Biologics (Nasdaq: ABCL) has successfully closed its initial public offering of 27,772,500 common shares at $20.00 each, raising approximately $555.5 million before expenses. This includes the full exercise of underwriters' options for 3,622,500 additional shares. Following the IPO, convertible promissory notes worth around $90.0 million converted into 6,093,524 common shares at $17.00 per share. Credit Suisse and several other banks served as joint book-running managers for this offering.

AbCellera Biologics has priced its initial public offering (IPO) at $20.00 per share, offering 24,150,000 common shares, expected to yield gross proceeds of $483 million. The IPO is set to trade on Nasdaq under the ticker 'ABCL' starting December 11, 2020, with an anticipated closing date of December 15, 2020. Should underwriters exercise their option, an additional 3,622,500 shares may be purchased. Concurrently, $90 million in convertible notes issued previously will convert at $17.00 per share, reflecting a discount to IPO price.