AbCellera Biologics (ABCL) Q3 2026 earnings summary

Executive summary

• Positive ABCL635 Phase 2 results supported plans for late-stage development in 2027 and expansion into cancer-treatment-related VMS.

• A $200 million offering and available liquidity exceeding $890 million supported internal pipeline investment.

• ABCL992, ABCL385 and ABCL646 entered the pipeline; ABCL575 development is not planned beyond Phase 1.

Financial highlights

• Q3 revenue was $10.639M vs. $8.955M a year earlier; 9M revenue was $23.001M vs. $30.275M.

• Q3 R&D expense was $43.5M vs. $55.0M, and SG&A was $13.6M vs. $25.0M YoY.

• Q3 net loss narrowed to $40.758M from $57.119M; basic and diluted loss per share was $0.13 vs. $0.19.

• 9M net loss was $139.350M vs. $137.467M; operating cash flow was positive $19.3M vs. $96.6M used in 9M 2025.

• Q3 research fees rose 20% YoY to $10.549M; 9M research fees rose 16% to $22.570M.

Outlook and guidance

• Late-stage development of ABCL635 for menopausal VMS and trials for VMS associated with breast and prostate cancer treatment are expected to begin in 2027.

• Additional ABCL635 12-week and open-label extension data are expected in early 2027; FDA MIDD discussions and exposure-response modeling are informing dose selection.

• ABCL688 and ABCL386 could enter clinical development in 2027; ABCL992 is not expected in the clinic before 2028.

• Available liquidity is expected to fund working capital and capital expenditures for at least 36 months from the report date.

• Significant R&D investment and losses are expected to continue for the foreseeable future.