On this page of StockholderLetter.com we present the latest annual shareholder letter from AbCellera Biologics Inc. — ticker symbol ABCL. Reading current and past ABCL letters to shareholders can bring important insights into the investment thesis.

MESSAGE FROM OUR CHIEF EXECUTIVE OFFICER AND PRESIDENT Dear Shareholders, After nearly 12 years of investment, we are in the final stages of building our engine, with the remaining efforts concentrated on our manufacturing capabilities. We have built a competitive advantage in the discovery and preclinical development of antibody therapies, and we will soon be fully integrated from target to the clinic. We have tested and proven our capabilities across more than 100 programs, and have done this in partnership with the top tier of biotech and biopharma companies. Through these partnerships, we have built a portfolio of passive royalty positions in therapeutic programs. The portfolio represents a growing and unrecognized store of value that will mature into future high-margin revenue streams. Alongside our partnership business, we have invested in specific technology platforms to unlock high-value drug classes, targets, and modalities, including transmembrane proteins, T cell engagers, and peptide-MHCs. This work is bearing fruit and forms the basis for both our internal and partnered programs. We remained focused on three pillars of our business, including: expanding the capabilities of our engine, continuing our technology-development efforts to unlock new target classes and modalities, and advancing high-quality programs and partnerships to build our portfolio. Key accomplishments in 2023 include: 1. 2. 3. 4. 5. 6. 7. Securing $220 million in non-dilutive funding from the governments of Canada and British Columbia. Advancing internal programs, ABCL635 and ABCL575, into IND-enabling studies. We believe this is just the beginning and foreshadows a series of potential first-in-class and best-in-class therapies in the coming years. We also believe this has the highest potential for value creation. Announcing strategic partnerships with RQ Biotechnology, Incyte, Regeneron, and Prelude Therapeutics. Starting 11 partner-initiated programs, bringing our total to 112, of which a total of 87 have downstream participation. Reaching 19 AbCellera-initiated programs. Reporting five molecules entering the clinic, bringing our total to 13 molecules in the clinic. Advancing technology development projects to unlock traditionally difficult targets (ion channels and Gprotein-coupled receptors) and develop next-generation cancer immunotherapies (T-cell engagers). We ended 2023 with a total cash balance of over $780 million and total available liquidity of approximately $1 billion. We continue to believe that we have sufficient liquidity to fund well beyond the next three years of pipeline and platform investments. We invite you to attend the Annual Meeting of Shareholders of AbCellera Biologics Inc. to be held virtually on Thursday, June 13, 2024, at 9:00 A.M. Pacific Time. Whether or not you plan to attend, the prompt execution and return of your proxy card will both assure your shares are represented at the meeting and minimize the cost of proxy solicitation. Thank you for your continued support. Carl Hansen, Ph.D., CEO and President
 • shareholder letter icon 4/29/2024 Letter Continued (Full PDF)
 • stockholder letter icon 4/28/2023 ABCL Stockholder Letter
 • stockholder letter icon More "Biotechnology" Category Stockholder Letters
 • Benford's Law Stocks icon ABCL Benford's Law Stock Score = 84


ABCL Shareholder/Stockholder Letter Transcript:



MESSAGE FROM OUR CHIEF EXECUTIVE OFFICER AND PRESIDENT
Dear Shareholders,
After nearly 12 years of investment, we are in the final stages of building our engine, with the remaining efforts
concentrated on our manufacturing capabilities. We have built a competitive advantage in the discovery and preclinical
development of antibody therapies, and we will soon be fully integrated from target to the clinic.
We have tested and proven our capabilities across more than 100 programs, and have done this in partnership with the top
tier of biotech and biopharma companies. Through these partnerships, we have built a portfolio of passive royalty positions
in therapeutic programs. The portfolio represents a growing and unrecognized store of value that will mature into future
high-margin revenue streams.
Alongside our partnership business, we have invested in specific technology platforms to unlock high-value drug classes,
targets, and modalities, including transmembrane proteins, T   cell engagers, and peptide-MHCs. This work is bearing fruit
and forms the basis for both our internal and partnered programs.
We remained focused on three pillars of our business, including: expanding the capabilities of our engine, continuing our
technology-development efforts to unlock new target classes and modalities, and advancing high-quality programs and
partnerships to build our portfolio.
Key accomplishments in 2023 include:
1.
2.
3.
4.
5.
6.
7.
Securing $220 million in non-dilutive funding from the governments of Canada and British Columbia.
Advancing internal programs, ABCL635 and ABCL575, into IND-enabling studies. We believe this is just the
beginning and foreshadows a series of potential first-in-class and best-in-class therapies in the coming years. We
also believe this has the highest potential for value creation.
Announcing strategic partnerships with RQ Biotechnology, Incyte, Regeneron, and Prelude Therapeutics.
Starting 11 partner-initiated programs, bringing our total to 112, of which a total of 87 have downstream
participation.
Reaching 19 AbCellera-initiated programs.
Reporting five molecules entering the clinic, bringing our total to 13 molecules in the clinic.
Advancing technology development projects to unlock traditionally difficult targets (ion channels and Gprotein-coupled receptors) and develop next-generation cancer immunotherapies (T-cell engagers).
We ended 2023 with a total cash balance of over $780 million and total available liquidity of approximately $1
billion. We continue to believe that we have sufficient liquidity to fund well beyond the next three years of pipeline and
platform investments.
We invite you to attend the Annual Meeting of Shareholders of AbCellera Biologics Inc. to be held virtually on Thursday,
June 13, 2024, at 9:00 A.M. Pacific Time. Whether or not you plan to attend, the prompt execution and return of your proxy
card will both assure your shares are represented at the meeting and minimize the cost of proxy solicitation. Thank you for
your continued support.
Carl Hansen, Ph.D., CEO and President



shareholder letter icon 4/29/2024 Letter Continued (Full PDF)
 

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