On November 9, 2026 AbCellera (Nasdaq: ABCL) reported financial results for the third quarter of 2026. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.
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"This was a transformative quarter for AbCellera, highlighted by strong clinical execution and balance sheet expansion. Positive top-line Phase 2 results for ABCL635 demonstrated an efficacy and tolerability profile that has potential to redefine the treatment of hot flashes. On the strength of this data, we raised $200 million, bringing our available liquidity to approximately $900 million," said Carl Hansen, Ph.D., founder and CEO of AbCellera. "Together with the top-line Phase 1 readout of ABCL575 and the addition of three new pipeline programs, ABCL992, ABCL385, and ABCL646, we have delivered on all corporate priorities for 2026."
Q3 2026 Business Summary and Program Updates
Announced positive top-line Phase 2 clinical trial data for ABCL635 that demonstrated significant reductions in the frequency and severity of moderate and severe vasomotor symptoms (VMS), a favorable tolerability profile, and significant improvements in sleep and patient global impression of change (PGI-C). AbCellera expects to initiate late-stage development for menopausal VMS in 2027. AbCellera is also expanding the indications for ABCL635 to include VMS caused by hormone suppression associated with breast and prostate cancer treatment. The initiation of clinical trials in these two populations is expected in 2027.
Completed a $200 million offering of common shares and pre-funded warrants.
Continued to advance ABCL386 and ABCL688 through IND-enabling activities.
Advanced the following three new programs in IND-enabling activities:
ABCL992, an investigational antibody drug candidate that is a next-generation half-life extended analog of ABCL635 for the treatment of VMS;
ABCL385, an investigational antibody drug candidate for an undisclosed indication in oncology; and
ABCL646, a potential first-in-class investigational antibody antagonist of an undisclosed ion channel target for the treatment of an undisclosed indication.
Generated a net loss of $40.8 million, compared to a net loss of $57.1 million in Q3 2025.
Ended the quarter with over $790 million in total cash balances and marketable securities, and over $890 million in total available liquidity to execute on AbCellera’s strategy.
Subsequent Event
Announced top-line data for the Phase 1 clinical trial of ABCL575, an investigational antibody drug targeting OX40 ligand for the treatment of atopic dermatitis and other autoimmune conditions. The Phase 1 study met all endpoints, demonstrating a favorable tolerability profile and a pharmacokinetic profile that supports an extended dosing interval. AbCellera currently does not plan to develop ABCL575 past Phase 1.
Discussion of Q3 2026 Financial Results
Revenue – Total revenue was $10.6 million, compared to $9.0 million in Q3 2025.
Research & Development (R&D) Expenses – R&D expenses were $43.5 million, compared to $55.0 million in Q3 2025.
Sales, General, & Administrative (SG&A) Expenses – SG&A expenses were $13.6 million, compared to $25.0 million in Q3 2025.
Net Loss – Net loss of $40.8 million, or $(0.13) per share on a basic and diluted basis, compared to net loss of $57.1 million, or $(0.19) per share on a basic and diluted basis, in Q3 2025.
Available Liquidity – Following the capital raise and positive year-to-date operating cashflow, AbCellera has over $790 million in total cash balances and marketable securities, and over $100 million in available non-dilutive government funding, bringing total available liquidity to over $890 million to execute on AbCellera’s strategy.
Business Metrics
At the end of Q3 2026, partners led 34 programs that AbCellera believes to be progressing and where AbCellera holds a downstream stake (down from 44 on December 31, 2025). In total, AbCellera held downstream stakes in 12 molecules in the clinic understood to be progressing on September 30, 2026.
Conference Call and Webcast
AbCellera will host a conference call and live webcast to discuss these results today at 3:00 p.m. Pacific Time / 2:00 p.m. Pacific Standard Time / 5:00 p.m. Eastern Standard Time.
The live webcast of the earnings conference call can be accessed on the Events and Presentations section of AbCellera’s Investor Relations website. A replay of the webcast will be available through the same link following the conference call.
(Press release, AbCellera, NOV 9, 2026, View Source [SID1234674513])