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.
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
Ownership (Institutional/ Fund Holdings)
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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…
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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.