The Vancouver biotech reported a US$29.9-million net loss or a loss of 10 cents per share in its most recent quarter, below analysts’ expectations of earnings of one cent a share. For the full year, it posted net earnings of nearly US$159 million, up from roughly US$154 million in 2021. (The Logic)

Talking point:The company’s shares closed down about one per cent Wednesday on the Nasdaq. For the full year, revenue rose from US$375 million to US$485 million. The majority of its revenue—US$443 million—came from royalties from its COVID-19 antibody therapies bamlanivimab and bebtelovimab. AbCellera’s partner Eli Lilly announced in August it would start selling the latter commercially in the U.S. after the federal government’s supply nearly ran out. In the fourth quarter, AbCellera earned four per cent of its total revenue, reporting US$21.5 million. Bebtelovimab royalties brought in US$9.5 million before the U.S. Food and Drug Administration suspended its emergency use authorization, saying it did not expect the therapy to neutralize some COVID-19 variants.