The Vancouver-based biotech firm’s first-quarter revenue jumped 4,253 per cent to US$202.7 million year over year. Of that, US$171.5 million came from royalties earned from sales of its COVID-19 antibody therapy bamlanivimab. (The Logic)

Talking point: Bamlanivimab has treated more than 400,000 patients, AbCellera said. While Health Canada authorized its use and the federal government paid millions for thousands of doses, the therapy has mostly sat in storage in the country. In the U.S., the treatment was widely used, though the government recently switched to a combination treatment, due to variants proving resistant to bamlanivimab alone. AbCellera announced earlier this month that a second antibody entered ongoing clinical trials in the U.S. It believes the treatment could be “a potential long-term solution for COVID-19” as it has shown to neutralize all currently known variants and could be administered with an injection rather than infusion.