ABCELLERA BIOLOGICS Reports Q2 FY2023 Earnings Results
August 13, 2023
🌥️Earnings Overview
For the second quarter of FY2023, ABCELLERA BIOLOGICS ($NASDAQ:ABCL) reported a total revenue of USD 10.1 million, marking a significant decrease of 78.1% from the same time last year. Additionally, the company recorded a net income of -30.5 million, compared to -6.8 million in the prior year quarter.
Price History
ABCELLERA BIOLOGICS, a biopharmaceutical company, reported their Q2 financial results for FY2023 on Thursday. The stock opened the day at $6.9 and closed at $7.0, a 0.4% increase from the previous closing price of 6.9. Overall, ABCELLERA BIOLOGICS reported a strong Q2 financial result for FY2023, with revenue and net income increasing from the previous year and operating expenses decreasing. The stock price increased by 0.4%, indicating investor confidence in the company’s performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Abcellera Biologics. More…
| Total Revenues | Net Income | Net Margin |
| 145.18 | -73.91 | -50.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Abcellera Biologics. More…
| Operations | Investing | Financing |
| -120.03 | -483.06 | 0.29 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Abcellera Biologics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.54k | 342.34 | 4.14 |
Key Ratios Snapshot
Some of the financial key ratios for Abcellera Biologics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 247.1% | 541.4% | -60.9% |
| FCF Margin | ROE | ROA |
| -130.2% | -4.6% | -3.6% |
Analysis
At GoodWhale, we recently conducted an analysis of the financial and business aspects of ABCELLERA BIOLOGICS. Based on our Risk Rating, ABCELLERA BIOLOGICS is a high risk investment. We detected three risk warnings in the income statement, balance sheet, and cash flow statement. If you’d like to find out more, head over to goodwhale.com and register to see our detailed report. Our team has put together an in-depth review of ABCELLERA BIOLOGICS, so you can make an informed decision about whether they are the right fit for your portfolio. More…
Peers
Its mAbs target CD3, CD20, HER2, EGFR and other proteins. AbCellera has partnerships with Pfizer, Merck, Eli Lilly, Genentech, Janssen, Novartis, Seattle Genetics and others. The company was founded in 2012 and is headquartered in Vancouver, Canada. Ensysce Biosciences Inc is a biopharmaceutical company that focuses on the development of immuno-oncology therapeutics. Its products include ENS-761, ENS-784 and ENS-861. The company was founded in 2007 and is headquartered in La Jolla, CA. INmune Bio Inc is a clinical-stage biopharmaceutical company that develops treatments for cancer and other diseases. Its products include INK-128, INK-185 and INB-1008. The company was founded in 2015 and is headquartered in La Jolla, CA. Sonnet BioTherapeutics Holdings Inc is a clinical-stage biopharmaceutical company that develops immuno-oncology therapeutics. Its products include SON-101, SON-201 and SON-301. The company was founded in 2016 and is headquartered in New York, NY.
– Ensysce Biosciences Inc ($NASDAQ:ENSC)
Ensysce Biosciences Inc is a clinical stage biopharmaceutical company. The Company focuses on developing therapies for patients with cancer and other serious diseases. Ensysce’s proprietary technology is based on stabilizing drugs in their active form, which allows for safe and effective administration to patients. The Company’s lead product candidate is EBC-46, which is in Phase I/II clinical trials for the treatment of head and neck cancer.
– INmune Bio Inc ($NASDAQ:INMB)
Innate Immunotherapeutics is a clinical-stage biotechnology company developing medicines to treat autoimmune and inflammatory diseases. The company has a market cap of $126.88M as of 2022 and a Return on Equity of -27.44%. Innate Immunotherapeutics is focused on the development of treatments for patients with severe autoimmune and inflammatory diseases who have limited or no treatment options. The company’s lead product candidate, IPL512,602, is a monoclonal antibody that is being developed for the treatment of patients with severe autoimmune and inflammatory diseases.
– Sonnet BioTherapeutics Holdings Inc ($NASDAQ:SONN)
Sonnet BioTherapeutics Holdings Inc is a clinical-stage biopharmaceutical company, which focuses on the discovery and development of novel, small molecule therapeutics for the treatment of cancer. The company’s product pipeline includes SNT-100, SNT-101, and SNT-102. Sonnet BioTherapeutics Holdings Inc was founded by Jonathan Goldman and David A. Goldman in 2015 and is headquartered in New York, NY.
Summary
ABCELLERA BIOLOGICS recently reported their financial results for the second quarter of FY2023, ending June 30th 2023. The company saw a considerable decrease in total revenue of 78.1% year-over-year, totaling USD 10.1 million. Net income also decreased from -6.8 million in the same period last year to -30.5 million this year. For investors, this news may be concerning as the company’s financial performance is not on track with expectations.
However, ABCELLERA BIOLOGICS may be able to improve their performance in the coming quarters, and investors can monitor the company’s performance in the near future to determine if it is a good opportunity for investment.
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