The Vancouver-based biotech reported 2020 net earnings of US$118.9 million, or US$0.53 per share after it made about US$233.2 million in revenue. (The Logic)
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The Vancouver-based biotech reported 2020 net earnings of US$118.9 million, or US$0.53 per share after it made about US$233.2 million in revenue. (The Logic)
Talking point: The bulk of the company’s revenue came from nearly US$199 million in royalties for its bamlanivimab antibody therapy for COVID-19. It co-developed the treatment with Eli Lilly. Fifteen countries, including Canada and the U.S., have approved the treatment and about 400,000 patients have received it. The earnings report is the company’s first since it went public in a record-breaking initial public offering on the Nasdaq in December. AbCellera said shortly after its IPO that it planned to hire hundreds more staff in Vancouver and expand its lab operations to one million square feet.
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