The Vancouver-based biotech said its second-quarter revenue rose 146 per cent to US$27.6 million from the same period last year. It reported a net loss of US$2.3 million, down from net earnings of US$6.7 million. On the company’s earnings call, CFO Andrew Booth said AbCellera expects its research and development spending will continue growing, after it increased nearly US$6 million from a year ago to US$15 million. (The Logic)

Talking point: The company said sales of its COVID-19 antibody therapy bamlanivimab earned US$21.2 million in royalties during the quarter. Shipments of the therapy to the U.S. stopped in June due to the prevalence of beta and gamma variants resistant to it at the time, the company noted. However, preclinical data shows it and etesevimab together retain neutralization against a number of current variants, including delta. One of its other COVID-19 antibody therapies has entered Phase 2 clinical testing, it said. AbCellera has grown rapidly throughout the pandemic, going public and reporting soaring revenue. It’s now planning a massive expansion in Vancouver, growing its headquarters from one to four buildings, in addition to building its first manufacturing facility.