The Vancouver-based biotech reported revenue of US$375.2 million for 2021, up from US$233.2 million in 2020. (The Logic)
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The Vancouver-based biotech reported revenue of US$375.2 million for 2021, up from US$233.2 million in 2020. (The Logic)
Talking point: The bulk of revenue came from royalty payments. In its fourth quarter, US$134.5 million of a total US$139.3 million in revenue came from royalties on net sales of bamlanivimab, a COVID-19 antibody therapy it co-developed with Eli Lilly. The company expects much of its 2022 revenue to also come from royalties from bamlanivimab sales and its second COVID-19 antibody therapy, bebtelovimab. The U.S. Food and Drug Administration recently authorized the latter for emergency use and the U.S. government entered into a purchase agreement for up to 600,000 doses. Despite this, CEO Carl Hansen emphasized to analysts during a conference call Thursday that AbCellera is not a COVID-19 company. It has a cumulative 156 programs under contract with 36 partners across a number of therapeutic areas, including oncology and dermatology, for human and animal patients.
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