Stock Track | AbCellera Stock Plummets 16.78% in Pre-Market After Wider 2024 Loss Despite Pipeline Progress

Stock Track

02-28

AbCellera Biologics (ABCL) stock plummeted 16.78% in pre-market trading on Friday, following the company's fourth-quarter and full-year 2024 financial results released during the pre-market session.

The biotech firm reported a wider net loss of roughly $163 million for the full year 2024, compared to a loss of about $146 million in the previous year. Despite the increased loss, AbCellera made progress in advancing its internal drug pipeline during the year.

AbCellera announced that its two lead antibody programs, ABCL635 and ABCL575, are positioned for clinical trial application (CTA) filings in the second quarter of 2025. The company has a robust portfolio of more than 20 preclinical programs behind these lead candidates.

Other key highlights from AbCellera's 2024 performance include completing its move into a new headquarters, being on track to bring its clinical manufacturing facility online in 2025, and entering into a new partnership with AbbVie to leverage its T-cell engager (TCE) platform.

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