AbCellera Biologics Inc. develops antibody-based medicines as a clinical-stage biotechnology company. Its updates center on antibody discovery and development programs in endocrinology, women’s health, immunology, oncology, and other areas, including work on complex targets such as GPCRs and ion channels.
Recurring news themes include clinical disclosures for ABCL635, an antibody therapeutic targeting NK3R for the non-hormonal treatment of moderate-to-severe vasomotor symptoms associated with menopause. Company announcements also cover financial results, earnings-call materials, investor conference participation, platform and manufacturing updates, and patent licensing or litigation-resolution developments.
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.