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Edge20 Feb 2026
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AbCellera Biologics
AbCellera Biologics (ABCL) investor relations material
AbCellera Biologics Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary24 Feb, 2026
Executive summary
Transitioned to a vertically integrated clinical-stage biotech, meeting all 2025 strategic priorities, including initiation of Phase I trials for ABCL635 and ABCL575, nomination of ABCL688 and ABCL386 for IND/CTA-enabling studies, completion of platform investments, and launch of clinical manufacturing activities.
Pipeline expanded from two preclinical programs to four, with ABCL635 advancing to Phase II and ABCL575 in Phase I; ABCL688 and ABCL386 in IND/CTA-enabling activities.
Over 20 programs remain in discovery, with expectations to nominate at least one new development candidate per year and a fifth candidate entering IND-enabling activities in early 2026.
Ended 2025 with approximately $700 million in available liquidity and $560–$561 million in cash, equivalents, and marketable securities.
Expanded leadership with the appointment of a new Chief Medical Officer.
Financial highlights
2025 revenue totaled $75.1 million, up from $28.8–$29 million in 2024, with $27 million from partnered programs and $47 million from licensing and royalties, including $36 million from a patent settlement.
R&D expenses were $186.8–$187 million, reflecting increased investment in internal programs.
SG&A expenses were $83.2–$83 million, slightly down from $85.5–$86 million in 2024.
Net loss for 2025 was $146.4 million ($0.49 per share), improved from $162.9–$163 million ($0.55 per share) in 2024.
Operating cash outflow was $130–$131 million; $46 million invested in property, plant, and equipment.
Outlook and guidance
Key 2026 priorities: deliver top-line readouts for ABCL635 Phase II and ABCL575 Phase I, advance ABCL688 and ABCL386 through IND-enabling activities, and nominate at least one new development candidate.
Phase II readout for ABCL635 expected in Q3 2026, with potential for rapid advancement to late-stage development if positive.
Sufficient liquidity to fund pipeline investments for at least three years.
Recurring revenue outlook post-settlement?
Liquidity runway vs. R&D investment plan?
R&D spend impact on pipeline value?
ABCL635: What is the largest remaining uncertainty?
ABCL575: What drives 2027 development decision?
How is clinical development capacity scaling?
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Next AbCellera Biologics earnings date
TD Cowen 46th Annual Health Care Conference4 Mar, 2026
AbCellera Biologics
Next AbCellera Biologics earnings date
TD Cowen 46th Annual Health Care Conference4 Mar, 2026
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Frequently asked questions
AbCellera Biologics, Inc. operates as a biotechnology company. The Company offers antibody discovery platform that accelerates the design of therapeutic antibodies and helps researchers discover new treatments for people with cancer or Alzheimer's disease. The company's platform discovers and characterizes fully human antibodies from natural immune responses in order to provide insights into how best to stimulate the human immune system.
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