AbCellera Biologics Inc. reported its financial results for the first quarter of 2026, revealing a total revenue of $8.3 million, a significant increase of 96% compared to $4.2 million in the same period of 2025. This growth was primarily driven by a 100% rise in research fees, which reached $8.1 million, alongside a 14% increase in licensing and royalty revenue. Despite the revenue growth, the company reported a net loss of $43.2 million, slightly improved from a net loss of $45.6 million in the prior year. The loss per share for the quarter was $0.14, compared to $0.15 in the previous year.
Operating expenses for the quarter totaled $65.8 million, a decrease of 2% from $66.9 million in the first quarter of 2025. Research and development expenses increased by 10% to $46.7 million, reflecting ongoing investments in clinical trials and internal programs. Conversely, sales, general, and administrative expenses saw a notable decline of 35%, falling to $12.3 million, attributed to a reduction in legal fees and optimization of headcount. The company also experienced a 28% increase in depreciation and amortization expenses, primarily due to the commencement of depreciation for its clinical manufacturing facility.
AbCellera's operational metrics indicate a stable pipeline, with five molecules currently in clinical trials and 35 in discovery or preclinical development as of March 31, 2026. The company has maintained 40 partner-led programs with downstream revenue potential, although this figure reflects a decrease from 44 in the previous quarter. The company continues to focus on advancing its internal programs, including ABCL635 and ABCL575, which are currently in Phase 2 and Phase 1 clinical trials, respectively.
The company’s liquidity position remains strong, with cash, cash equivalents, and marketable securities totaling $504.7 million as of March 31, 2026. This represents a decrease from $533.8 million at the end of 2025, primarily due to cash used in operations. AbCellera plans to continue investing in research and development, with expectations of incurring operating losses in the near term as it advances its internal pipeline and enhances its capabilities. The company has also secured significant government contributions to support its research and development efforts, which are expected to provide additional funding in the coming years.
Looking ahead, AbCellera remains focused on executing its clinical trials and advancing its drug candidates through development. The company anticipates topline data readouts for its ongoing trials in the second half of 2026, which could significantly impact its future revenue and growth prospects. However, the company acknowledges the inherent risks associated with drug development, including the potential for clinical trial failures and market competition, which could affect its financial performance and operational success.
About AbCellera Biologics Inc.
AbCellera Biologics Inc. specializes in discovering and developing antibody-based medicines for diseases with high unmet needs. The company integrates advanced technology, data science, and automation to accelerate antibody drug discovery from target identification to clinical candidate delivery. Serving biotechnology and pharmaceutical partners primarily in the U.S. and Europe, AbCellera’s business model combines proprietary internal programs with strategic collaborations, generating value through milestone payments, royalties, and equity stakes.
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