AbCellera Biologics Inc 8-K, filed Nov 9, 2026
AbCellera Biologics Inc. (ABCL)
8-K
2026-11-09
For: 2026-11-09
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Added on
November 09, 2026
About this 8-K
AbCellera Biologics Inc filed this 8-K on November 9, 2026.
Items reported
- Item 2.02: Financial results
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________________________________________
FORM 8-K
__________________________________________
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 9, 2026
__________________________________________
(Exact name of registrant as specified in its charter)
__________________________________________
| Not Applicable | ||||||||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification Number) | ||||||
150 W 4th Avenue | |||||
| (Address of registrant’s principal executive office) | (Zip code) | ||||
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
__________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | ||||||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02 Results of Operations and Financial Condition
On November 9, 2026, AbCellera Biologics Inc. (the “Company”), issued a press release announcing its financial and operational results for the quarter ended September 30, 2026. A copy of the press release is furnished herewith as Exhibit 99.1.
Item 7.01 Regulation FD
In connection with its earnings call on November 9, 2026, to discuss its results for the quarter ended September 30, 2026, the Company will utilize a corporate presentation, a copy of which is furnished herewith as Exhibit 99.2.
The information in Items 2.02 and 7.01 of this Form 8-K (including the exhibits attached hereto) is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall such information be deemed to be incorporated by reference in any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise stated in such filing.
Item 9.01 Financial Statements and Exhibits
(d)Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | ||||||||
| 99.2 | ||||||||
| 104 | Cover Page Interactive Data File (embedded as Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: November 9, 2026 | ABCELLERA BIOLOGICS INC. | |||||||
| By: | /s/ Carl L. G. Hansen | |||||||
| Carl L. G. Hansen, Ph.D. | ||||||||
Chief Executive Officer and Director (Principal Executive Officer) | ||||||||
NEWS RELEASE
AbCellera Reports Q3 2026 Business Results
11/9/2026
VANCOUVER, British Columbia--(BUSINESS WIRE)-- AbCellera (Nasdaq: ABCL) today announced financial results for the third quarter of 2026. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.
“This was a transformative quarter for AbCellera, highlighted by strong clinical execution and balance sheet expansion. Positive top-line Phase 2 results for ABCL635 demonstrated an efficacy and tolerability profile that has potential to redefine the treatment of hot flashes. On the strength of this data, we raised $200 million, bringing our available liquidity to approximately $900 million,” said Carl Hansen, Ph.D., founder and CEO of AbCellera. “Together with the top-line Phase 1 readout of ABCL575 and the addition of three new pipeline programs, ABCL992, ABCL385, and ABCL646, we have delivered on all corporate priorities for 2026.”
Q3 2026 Business Summary and Program Updates
●Announced positive top-line Phase 2 clinical trial data for ABCL635 that demonstrated significant reductions in the frequency and severity of moderate and severe vasomotor symptoms (VMS), a favorable tolerability profile, and significant improvements in sleep and patient global impression of change (PGI-C). AbCellera expects to initiate late-stage development for menopausal VMS in 2027. AbCellera is also expanding the indications for ABCL635 to include VMS caused by hormone suppression associated with breast and prostate cancer treatment. The initiation of clinical trials in these two populations is expected in 2027.
●Completed a $200 million offering of common shares and pre-funded warrants.
●Continued to advance ABCL386 and ABCL688 through IND-enabling activities.
●Advanced the following three new programs in IND-enabling activities:
●ABCL992, an investigational antibody drug candidate that is a next-generation half-life extended analog of ABCL635 for the treatment of VMS;
●ABCL385, an investigational antibody drug candidate for an undisclosed indication in oncology; and
●ABCL646, a potential first-in-class investigational antibody antagonist of an undisclosed ion channel target for the treatment of an undisclosed indication.
●Generated a net loss of $40.8 million, compared to a net loss of $57.1 million in Q3 2025.
●Ended the quarter with over $790 million in total cash balances and marketable securities, and over $890 million in total available liquidity to execute on AbCellera’s strategy.
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Subsequent Event
●Announced top-line data for the Phase 1 clinical trial of ABCL575, an investigational antibody drug candidate targeting OX40 ligand for the treatment of atopic dermatitis and other autoimmune conditions. The Phase 1 study met all endpoints, demonstrating a favorable tolerability profile and a pharmacokinetic profile that supports an extended dosing interval. AbCellera currently does not plan to develop ABCL575 past Phase 1.
Discussion of Q3 2026 Financial Results
●Revenue – Total revenue was $10.6 million, compared to $9.0 million in Q3 2025.
●Research & Development (R&D) Expenses – R&D expenses were $43.5 million, compared to $55.0 million in Q3 2025.
●Sales, General, & Administrative (SG&A) Expenses – SG&A expenses were $13.6 million, compared to $25.0 million in Q3 2025.
●Net Loss – Net loss of $40.8 million, or $(0.13) per share on a basic and diluted basis, compared to net loss of $57.1 million, or $(0.19) per share on a basic and diluted basis, in Q3 2025.
●Available Liquidity – Following the capital raise and positive year-to-date operating cashflow, AbCellera has over $790 million in total cash balances and marketable securities, and over $100 million in available non-dilutive government funding, bringing total available liquidity to over $890 million to execute on AbCellera's strategy.
Business Metrics
At the end of Q3 2026, partners led 34 programs that AbCellera believes to be progressing and where AbCellera holds a downstream stake (down from 44 on December 31, 2025). In total, AbCellera held downstream stakes in 12 molecules in the clinic understood to be progressing on September 30, 2026.
Conference Call and Webcast
AbCellera will host a conference call and live webcast to discuss these results today at 3:00 p.m. Pacific Time / 2:00 p.m. Pacific Standard Time / 5:00 p.m. Eastern Standard Time.
The live webcast of the earnings conference call can be accessed on the Events and Presentations section of AbCellera’s Investor Relations website. A replay of the webcast will be available through the same link following the conference call.
About AbCellera Biologics Inc.
AbCellera (Nasdaq: ABCL) is a clinical-stage biotechnology company focused on discovering and developing first-in-class antibody-based medicines in the areas of endocrinology, women’s health, immunology, oncology, and more. For more information, please visit www.abcellera.com.
AbCellera Forward-Looking Statements
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This document contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. All statements contained in this document other than statements of historical fact are forward-looking statements, including statements regarding our ability to develop, commercialize and achieve market acceptance of our current and planned products and services, our research and development efforts, and other matters regarding our business strategies, use of capital, results of operations and financial position, plans, objectives for future operations, and the evaluation of our available liquidity to execute on our strategy (including our ability to access our reimbursement based R&D government contributions). The use of certain data derived from cross-study comparisons are not based on any head-to-head clinical trials. Cross-study comparisons are inherently limited and may suggest misleading similarities and differences and are presented for informational purposes. In some cases, you can identify forward-looking statements by the words “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words.
These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties, other factors, and definition of our business metrics are described under “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in the documents we file with the Securities and Exchange Commission from time to time. We caution you that forward-looking statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result, the forward-looking statements may not prove to be accurate. The forward-looking statements in this document represent our views as of the date hereof. We undertake no obligation to update any forward-looking statements for any reason, except as required by law.
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AbCellera Biologics Inc.
Condensed Consolidated Statements of Loss and Comprehensive Loss
(All figures in U.S. dollars. Amounts are expressed in thousands except share and per share data.)
(Unaudited)
| Three months ended September 30, | Nine months ended September 30, | |||||||||||||||||||||||||
| 2025 | 2026 | 2025 | 2026 | |||||||||||||||||||||||
| Revenue: | ||||||||||||||||||||||||||
| Research fees | $ | 8,817 | $ | 10,549 | $ | 19,524 | $ | 22,570 | ||||||||||||||||||
| Licensing and royalty revenue | 138 | 90 | 10,751 | 431 | ||||||||||||||||||||||
| Total revenue | 8,955 | 10,639 | 30,275 | 23,001 | ||||||||||||||||||||||
| Operating expenses: | ||||||||||||||||||||||||||
Research and development(1) | 55,028 | 43,535 | 136,736 | 136,184 | ||||||||||||||||||||||
Sales, general, and administrative(1) | 24,958 | 13,613 | 66,012 | 39,799 | ||||||||||||||||||||||
| Depreciation and amortization | 5,247 | 6,806 | 16,048 | 20,634 | ||||||||||||||||||||||
| Total operating expenses | 85,233 | 63,954 | 218,796 | 196,617 | ||||||||||||||||||||||
| Loss from operations | (76,278) | (53,315) | (188,521) | (173,616) | ||||||||||||||||||||||
| Other income: | ||||||||||||||||||||||||||
| Interest and other | (4,781) | (6,867) | (19,851) | (10,474) | ||||||||||||||||||||||
| Grants and incentives | (2,729) | (3,636) | (10,574) | (11,829) | ||||||||||||||||||||||
| Total other income | (7,510) | (10,503) | (30,425) | (22,303) | ||||||||||||||||||||||
| Loss before income tax | (68,768) | (42,812) | (158,096) | (151,313) | ||||||||||||||||||||||
| Income tax recovery | (11,649) | (2,054) | (20,629) | (11,963) | ||||||||||||||||||||||
| Net loss | $ | (57,119) | $ | (40,758) | $ | (137,467) | $ | (139,350) | ||||||||||||||||||
| Foreign currency translation adjustment | (41) | (269) | 1,680 | 813 | ||||||||||||||||||||||
| Comprehensive loss | $ | (57,160) | $ | (41,027) | $ | (135,787) | $ | (138,537) | ||||||||||||||||||
| Net loss per share | ||||||||||||||||||||||||||
| Basic | $ | (0.19) | $ | (0.13) | $ | (0.46) | $ | (0.45) | ||||||||||||||||||
| Diluted | $ | (0.19) | $ | (0.13) | $ | (0.46) | $ | (0.45) | ||||||||||||||||||
| Weighted-average common shares outstanding | ||||||||||||||||||||||||||
| Basic | 298,875,174 | 318,053,142 | 298,366,169 | 308,957,891 | ||||||||||||||||||||||
| Diluted | 298,875,174 | 318,053,142 | 298,366,169 | 308,957,891 | ||||||||||||||||||||||
(1) Exclusive of depreciation and amortization
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AbCellera Biologics Inc.
Condensed Consolidated Balance Sheets
(All figures in U.S. dollars. Amounts are expressed in thousands except share data.)
(Unaudited)
| December 31, 2025 | September 30, 2026 | ||||||||||
| Assets | |||||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 128,513 | $ | 163,800 | |||||||
| Marketable securities | 405,313 | 600,624 | |||||||||
| Total cash, cash equivalents, and marketable securities | 533,826 | 764,424 | |||||||||
| Accounts and accrued receivables | 58,293 | 17,964 | |||||||||
| Restricted cash | 25,000 | 25,000 | |||||||||
| Other current assets | 111,113 | 68,770 | |||||||||
| Total current assets | 728,232 | 876,158 | |||||||||
| Long-term assets: | |||||||||||
| Property and equipment, net | 428,003 | 410,050 | |||||||||
| Intangible assets, net | 38,381 | 38,389 | |||||||||
| Goodwill | 47,806 | 47,806 | |||||||||
| Investments in equity accounted investees | 62,580 | 63,845 | |||||||||
| Other long-term assets | 51,948 | 63,616 | |||||||||
| Total long-term assets | 628,718 | 623,706 | |||||||||
| Total assets | $ | 1,356,950 | $ | 1,499,864 | |||||||
| Liabilities and shareholders' equity | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable and other current liabilities | $ | 50,781 | $ | 35,435 | |||||||
| Deferred revenue | 13,526 | 35,038 | |||||||||
| Total current liabilities | 64,307 | 70,473 | |||||||||
| Long-term liabilities: | |||||||||||
| Operating lease liability | 137,403 | 128,130 | |||||||||
| Deferred revenue | 3,500 | 48,050 | |||||||||
| Deferred government contributions | 174,453 | 180,275 | |||||||||
| Other long-term liabilities | 10,383 | 10,436 | |||||||||
| Total long-term liabilities | 325,739 | 366,891 | |||||||||
| Total liabilities | 390,046 | 437,364 | |||||||||
| Commitments and contingencies | |||||||||||
Shareholders’ equity: | |||||||||||
Common shares: no par value, unlimited authorized shares at December 31, 2025 and September 30, 2026: 300,600,710 and 326,332,641 shares issued and outstanding at December 31, 2025 and September 30, 2026, respectively (Note 9) | 802,341 | 996,188 | |||||||||
| Additional paid-in capital | 198,279 | 238,565 | |||||||||
| Accumulated other comprehensive loss | (4,234) | (3,421) | |||||||||
| Accumulated deficit | (29,482) | (168,832) | |||||||||
Total shareholders’ equity | 966,904 | 1,062,500 | |||||||||
Total liabilities and shareholders’ equity | $ | 1,356,950 | $ | 1,499,864 | |||||||
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AbCellera Biologics Inc.
Condensed Consolidated Statement of Cash Flows
(Expressed in thousands of U.S. dollars.)
(Unaudited)
| Nine months ended September 30, | ||||||||||||||
| 2025 | 2026 | |||||||||||||
| Cash flows from operating activities: | ||||||||||||||
| Net loss | $ | (137,467) | $ | (139,350) | ||||||||||
| Cash flows from operating activities: | ||||||||||||||
| Depreciation of property and equipment | 13,257 | 17,842 | ||||||||||||
| Amortization of intangible assets | 2,791 | 2,791 | ||||||||||||
| Amortization of operating lease right-of-use assets | 4,853 | 5,422 | ||||||||||||
| Stock-based compensation | 42,888 | 35,967 | ||||||||||||
| Other | 1,601 | 5,599 | ||||||||||||
| Changes in operating assets and liabilities: | ||||||||||||||
| Research fees and grants receivable | (15,957) | 21,063 | ||||||||||||
| Income taxes receivable | (19,792) | 19,484 | ||||||||||||
| Accounts payable and accrued liabilities | (2,286) | (13,311) | ||||||||||||
| Deferred revenue | 2,316 | 66,062 | ||||||||||||
| Deferred grant income | (2,834) | (6,717) | ||||||||||||
| Other assets | 14,078 | 4,461 | ||||||||||||
| Net cash provided by (used in) operating activities | (96,552) | 19,313 | ||||||||||||
| Cash flows from investing activities: | ||||||||||||||
| Purchases of property and equipment | (32,929) | (7,577) | ||||||||||||
| Purchase of marketable securities | (324,704) | (624,840) | ||||||||||||
| Proceeds from marketable securities | 386,536 | 429,162 | ||||||||||||
| Receipt of grant funding | 7,366 | 7,184 | ||||||||||||
| Long-term investments and other assets | (23,657) | (1,105) | ||||||||||||
| Net cash provided by (used in) investing activities | 12,612 | (197,176) | ||||||||||||
| Cash flows from financing activities: | ||||||||||||||
| Proceeds from deferred government contributions and other | 9,967 | 25,398 | ||||||||||||
| Issuance of common shares and pre-funded warrants, net | — | 188,824 | ||||||||||||
| Net cash provided by financing activities | 9,967 | 214,222 | ||||||||||||
| Effect of exchange rate changes on cash and cash equivalents | 807 | (847) | ||||||||||||
| Increase (decrease) in cash and cash equivalents | $ | (73,166) | $ | 35,512 | ||||||||||
| Cash and cash equivalents and restricted cash, beginning of period | 183,615 | 155,249 | ||||||||||||
| Cash and cash equivalents and restricted cash, end of period | $ | 110,449 | $ | 190,761 | ||||||||||
| Restricted cash included in other assets | 2,290 | 1,961 | ||||||||||||
| Total cash, cash equivalents, and restricted cash shown on the balance sheet | 108,159 | 188,800 | ||||||||||||
| Supplemental disclosure of non-cash investing and financing activities | ||||||||||||||
| Property and equipment in accounts payable | 10,457 | 416 | ||||||||||||
| Right-of-use assets obtained in exchange for operating lease obligation | 76,118 | — | ||||||||||||
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Inquiries
Media: Tiffany Chiu; media@abcellera.com, +1(236)521-6774
Partnering: Murray McCutcheon, Ph.D.; partnering@abcellera.com, +1(604)559-9005
Investor Relations: Peter Ahn; ir@abcellera.com, +1(778)729-9116
Partnering: Murray McCutcheon, Ph.D.; partnering@abcellera.com, +1(604)559-9005
Investor Relations: Peter Ahn; ir@abcellera.com, +1(778)729-9116
Source: AbCellera Biologics Inc.
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CO PY RI GH T © A BC EL LE RA NOVEMBER 9, 2026 Q3 2026 BUSINESS UPDATE
These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks, uncertainties, other factors, and definition of our business metrics are described under “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in the documents we file with the Securities and Exchange Commission from time to time. We caution you that forward-looking statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. As a result, the forward-looking statements may not prove to be accurate. The forward-looking statements in this document represent our views as of the date hereof. We undertake no obligation to update any forward-looking statements for any reason, except as required by law. DISCLAIMER This document contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. All statements contained in this document other than statements of historical fact are forward-looking statements, including statements regarding our ability to develop, commercialize and achieve market acceptance of our current and planned products and services, our research and development efforts, and other matters regarding our business strategies, use of capital, results of operations and financial position, plans, objectives for future operations, and the evaluation of our available liquidity to execute on our strategy (including our ability to access our reimbursement based R&D government contributions). The use of certain data derived from cross-study comparisons are not based on any head-to-head clinical trials. Cross-study comparisons are inherently limited and may suggest misleading similarities and differences and are presented for informational purposes. In some cases, you can identify forward-looking statements by the words “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. 2 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e
3 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e Phase 2 data demonstrate ABCL635 has potential to redefine the standard of care for treating vasomotor symptoms Markedly improved efficacy data compared to available non-hormonal therapies EFFICACY ENDPOINT Significant improvement in sleep and symptom burden Comprehensive improvement in sleep disturbance symptoms QUALITY OF LIFE ENDPOINT Significant reduction in both VMSM-S frequency and severity vs. placebo after a single dose Favorable tolerability profile with no meaningful liver or gastrointestinal safety signals Potential for an improved safety profile SAFETY ENDPOINT VMSM-S: moderate and severe vasomotor symptoms Positive top-line ABCL635 Phase 2 data at week 4 demonstrate a new efficacy benchmark for reducing the frequency and severity of moderate and severe vasomotor symptoms (VMSM-S)
4 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e ABCL635 reduced the frequency of moderate and severe VMS starting at week 1 through week 4 MMRM: Mixed Models for Repeated Measures; LSM (SE): Least Squares Mean (Standard Error); VMSM-S: moderate and severe VMS Data cutoff: 30JUL26 Frequency of Moderate and Severe VMSM-S Primary MMRM analysis Sensitivity MMRM analysis ● Mean placebo-adjusted treatment difference of 2.6 at week 1 ● Mean placebo-adjusted treatment difference of 5.3 starting at week 4 ● Mean % change from baseline at week 4: ○ 83% reduction ABCL635 vs. 33% reduction placebo ○ placebo-adjusted difference of 50% ● Treatment effects consistent across subgroup and sensitivity analyses
5 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e ABCL635 reduced the severity score of moderate and severe VMS starting at week 1 through week 4 MMRM: Mixed Models for Repeated Measures; LSM (SE): Least Squares Mean (Standard Error); VMSM-S: moderate and severe VMS. Data cutoff: 30JUL26 Severity Score of VMSM-S Primary MMRM analysis Sensitivity MMRM analysis ● Mean placebo-adjusted treatment difference of 0.3 at week 1 ● Mean placebo-adjusted treatment difference of 1.1 at week 4 ● Mean % change from baseline at week 4: ○ 58% reduction ABCL635 vs. 12% reduction placebo ○ placebo-adjusted difference of 46% ● Treatment effects consistent across subgroup and sensitivity analyses Primary MMRM analysis Sensitivity MMRM analysis
6 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e ABCL635 participants fared better than placebo across all threshold values VMSM-S: moderate and severe VMS. Data cutoff: 30JUL26 Cumulative Distribution at Week 4 of VMSM-S Frequency and Severity Scores VMS Frequency VMS Severity % Reduction from baseline at week 4 ABCL635 (N=46) % Participants Placebo (N=46) % Participants 100% 37.0% 2.2% >90% 60.9% 8.7% >75% 78.3% 15.2% >50% 87.0% 32.6% % Reduction from baseline at week 4 ABCL635 (N=46) % Participants Placebo (N=46) % Participants 100% 26.1% 2.2% >90% 28.3% 2.2% >75% 37.0% 2.2% >50% 58.7% 8.7% Complete resolution of VMSM-S was achieved in 37% of ABCL635 participants vs. 2% in placebo
7 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e ABCL635 Phase 2 efficacy data are markedly improved compared to approved small molecule NK3R antagonists at week 4 VMSM-S Frequency and Severity Placebo-Adjusted Change from Baseline at Week 4* Frequency Severity ABCL635 SC 600 mg Fezolinetant 45 mg -Trial 1** Fezolinetant 45 mg -Trial 2** Elinzanetant 120 mg -Trial 1*** Elinzanetant 120 mg -Trial 2*** ABCL635 SC 600 mg Fezolinetant 45 mg -Trial 1** Fezolinetant 45 mg -Trial 2** Elinzanetant 120 mg -Trial 1*** Elinzanetant 120 mg -Trial 2*** VMSM-S: moderate and severe VMS. * Percent changes from baseline at Week 4 for VMS frequency and severity for Fezolinetant and Elinzanetant studies were calculated from available literature data using baseline scores and Week 4 placebo-adjusted Least Squares (LS) means where available. ** Lederman et al., The Lancet, 2023, FDA Summary Review Document: FDA NDA 216578, Johnson et al.,The Journal of Clinical Endocrinology & Metabolism 2023 *** Pinkerton et al. JAMA. 2024 DISCLAIMER: Information provided above is for illustrative purposes only and no head-to-head clinical trials have been conducted. Differences exist between study or trial designs and subject characteristics, and caution should be exercised when comparing data across trials. *
8 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e ABCL635 was well tolerated, with no gastrointestinal or liver signals ● No SAEs or severe (Grade 3+) AEs in ABCL635 group ● 1 SAE and 2 severe (Grade 3) AEs in placebo group ● Headache AEs generally mild in both treatment groups ● Fatigue AEs all mild in ABCL635 group and mild/moderate in placebo group ● No evidence of gastrointestinal toxicity ● 1 ABCL635 AE of mild increase in transaminases (AST = 92; ALT = 66 IU/L), resolved in one week ● 1 placebo patient with ALT values up to 121 IU/L * Includes Headache and Tension headache ^ Includes injection site bruising, injection site reaction, injection site erythema, injection site hyperesthesia, injection site induration, and injection site pruritus. SAE: Serious Adverse Event; ALT: Alanine Aminotransferase; AST: Aspartate Aminotransferase; Data cutoff: 30JUL26 Adverse Events (AEs) reported in at least two patients in either group regardless of relationship during first 4-weeks of treatment AE Preferred Term ABCL635 (600 mg) Once Monthly, SC (N=46) n (%) Placebo Once Monthly, SC (N=46) n (%) Number (%) with at least one AE 31 (67.4%) 24 (52.2%) Number (%) with at least one SAE 0 1 (2.2%) Number (%) with at least one grade 3+ AE 0 2 (4.3%) Headache* 13 (28.2%) 6 (13.0%) Fatigue 6 (13.0%) 3 (6.5%) Injection site reaction^ 4 (8.7%) 3 (6.5%) Nausea 2 (4.3%) 4 (8.7%) Nasopharyngitis 2 (4.3%) 3 (6.5%) Gastroesophageal reflux disease 2 (4.3%) 0 Urinary tract infection 2 (4.3%) 0 Diarrhea 0 3 (6.5%) Nasal congestion 1 (2.2%) 2 (4.3%) Abdominal pain 0 2 (4.3%) Arthralgia 0 2 (4.3%) Dizziness 0 2 (4.3%)
9 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e Following the positive Phase 2 data, we are advancing ABCL635 into multiple indications In discussions with regulators and working through the FDA’s MIDD program to advance ABCL635 for VMSM-S ● Anticipate disclosing 12-week and OLE data in early 2027 ● Expect to enter late-stage development in 2027 Expect to advance ABCL635 in 2027 for VMSM-S due to: ● Adjuvant endocrine therapy (AET) for breast cancer ● Androgen deprivation therapy (ADT) for prostate cancer New IndicationsMenopause MIDD: Model-Informed Drug Development. VMSM-S: moderate and severe VMS. OLE: Open-label Extension
10 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e We are also advancing a new program, ABCL992, for the treatment of VMSM-S ABCL992 is a next-gen half-life extended analog of ABCL635 ● Designed to supports less frequent dosing ● Currently in IND-enabling activities VMSM-S: moderate and severe VMS.
11 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e OX40 Ligand (OX40L) Target Atopic Dermatitis (AD), Autoimmune Diseases Indications Immunology & Inflammation Therapeutic Area Phase 1 Status ABCL575 ABCL575 is an investigational antibody targeting OX40 ligand AbCellera currently does not intend to develop ABCL575 past Phase 1.
12 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e FIH: first-in-human; NHV: normal healthy volunteers; SAD: single ascending dose; SC: subcutaneous. Clinicaltrials.gov ID: NCT07108894. Phase 1 SAD Trial Design Participants A FIH Phase 1 randomized, double-blind, single ascending dose study of ABCL575 in healthy participants N=40 NHV, 18-65 year old N=8 per cohort, 6 active, 2 placebo (3:1 randomization) Endpoints Safety, tolerability, and pharmacokinetics (PK) Study Design Cohort A1 (n=8) 75 mg SC Day 1 Cohort A2 (n=8) 150 mg SC Day 1 Cohort A3 (n=8) 300 mg SC Day 1 Cohort A4 (n=8) 600 mg SC Day 1 Cohort A5 (n=8) 900 mg SC Day 1 ABCL575-101: A first-in-human Phase 1 study in healthy participants
13 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e Data cutoff: 18SEPT2026 Demographic and baseline characteristics SAD Population ABCL575 (Cohorts A1-A5) (N=30) Pooled Placebo (N=10) Overall (N=40) 75 mg (N=6) 150 mg (N=6) 300 mg (N=6) 600 mg (N=6) 900 mg (N=6) Age (median, years) 33.0 40.0 58.5 41.0 36.5 51.5 44.0 Sex, n (%) Male 2 (33.3) 4 (66.7) 3 (50.0) 2 (33.3) 3 (50.0) 5 (50.0) 19 (47.5) Female 4 (66.7) 2 (33.3) 3 (50.0) 4 (66.7) 3 (50.0) 5 (50.0) 21 (52.5) Race, n (%) Asian 1 (16.7) 1 (16.7) 0 1 (16.7) 1 (16.7) 0 4 (10.0) Black 1 (16.7) 1 (16.7) 1 (16.7) 0 0 0 3 (7.5) White 4 (66.7) 4 (66.7) 5 (83.3) 4 (66.7) 5 (83.3) 9 (90.0) 31 (77.5) Other 0 0 0 1 (16.7) 0 1 (10.0) 2 (5.0) Weight (median, kg) 69.3 70.6 60.6 75.3 73.0 72.0 71.5 Treatment groups were generally balanced
14 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e ● Favorable preliminary safety profile across all explored doses ● No SAEs ● No Grade 3 AEs in ABCL575 ● 1 Grade 3 AE of retinal detachment in placebo ● ABCL575 AEs generally mild SAE: Serious Adverse Event. Data cutoff: 18SEPT2026 Adverse Event Preferred Term ABCL575 (Cohorts A1-A5) Total ABCL575 (N=30) n (%) Pooled placebo (N=10) n (%)75 mg (N=6) n (%) 150 mg (N=6) n (%) 300 mg (N=6) n (%) 600 mg (N=6) n (%) 900 mg (N=6) n (%) Number (%) with at least one AE 5 (83.3%) 4 (66.7%) 3 (50.0%) 2 (33.3%) 3 (50.0%) 17 (56.6%) 6 (60.0%) Number (%) with at least one SAE 0 0 0 0 0 0 0 Number (%) with at least one grade 3+ AE 0 0 0 0 0 0 1 (10.0%) Injection site reaction (erythema, pain) 4 (66.7%) 3 (50.0%) 1 (16.7%) 0 1 (16.7%) 9 (30.0%) 2 (20.0%) Headache 0 1 (16.7%) 1 (16.7%) 2 (33.3%) 1 (16.7%) 5 (16.7%) 2 (20.0%) Nasopharyngitis 0 0 0 1 (16.7%) 0 1 (3.4%) 2 (20.0%) Cough 0 2 (33.3%) 0 0 0 2 (6.7%) 0 ABCL575 demonstrates a favorable tolerability profile Adverse Events (AEs) reported in at least two participants in either group regardless of relationship
15 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e ABCL575 exhibited sustained exposure with a mean half-life of 65 days supportive of Q12W or longer dosing Data are shown as mean ± SEM. Values below the lower limit of quantification (LLOQ) were imputed as LLOQ/2. The LLOQ is shown in the dotted line. Data cutoff: 18SEPT2026. Pharmacokinetics SAD PK ● Approximately dose proportional exposure ● Mean half-life of ~65 days ranging from 43 days in cohort A1 to 79 days in cohort A4, as predicted from preclinical data (67 days) ● Exposures maintained well above efficacy target threshold of 4 μg/mL* at clinically relevant dose levels ● Supportive of Q12W or less frequent dosing regimens * Amlitelimab demonstrates clinical efficacy at doses of 0.45 mg/kg1 and ≥62.5 mg Q4W SC,4 suggesting a threshold PK concentration of 4 µg/mL required for efficacy.. * Amlitelimab demonstrates clinical efficacy at doses of 0.45 mg/kg1 and ≥62.5 mg Q4W SC,2 suggesting a threshold PK concentration of 4 µg/mL required for efficacy. 1. Saghari M, et al., Clin Pharmacol Ther. 2022 May;111(5):1121-1132. 2. Weidinger S, et al. (2024). J Allergy Clin Immunol. S0091-6749(24)01175-8. LLOQ 4 μg/mL
16 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e ABCL575 Phase 1 study met its endpoints All doses tested in the 75 to 900 mg range were well tolerated SAFETY/TOLERABILITY ENDPOINT PK profile supports an extended dosing interval Estimated half-life of ~65 days At this time, AbCellera does not plan to develop ABCL575 past Phase 1. NEXT STEPS PHARMACOKINETIC ENDPOINT Favorable preliminary tolerability profile
17 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e Completed $200M oversubscribed capital raise ~20M common shares Number of shares and pre-funded warrants $9.75 per share Share price & pre-funded warrant price August 14, 2026 Transaction closed
18 CO PY RI GH T © A BC EL LE RA PROGRAMS TARGET INDICATION THERAPEUTIC AREA STAGE IND-Enabling Phase 1 Phase 2 Phase 3 ABCL635 NK3R VMS due to menopause Endocrinology & Women’s Health VMS due to breast cancer treatment Oncology VMS due to prostate cancer treatment Oncology ABCL992 NK3R VMS Endocrinology ABCL575 OX40L Atopic Dermatitis Immunology & Inflammation ABCL688 Undisclosed GPCR / ion channel Undisclosed Autoimmunity ABCL386 Undisclosed Undisclosed Oncology ABCL385 Undisclosed Undisclosed Oncology ABCL646 Undisclosed Ion channel Undisclosed Undisclosed Q3 2 02 6 Bu si ne ss U pd at e As of September 30, 2026 ABCELLERA PROGRAMS
19 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e We advanced ABCL992, ABCL385, and ABCL646 into the pipeline, completing all 2026 priorities 2026 PRIORITIES Nominate at least 1 additional development candidate for IND-enabling activities ABCL635 Phase 2 clinical trial top-line readout on Aug 10, 2026 ABCL575 Phase 1 clinical trial top-line readout on Nov 9, 2026 ABCL688 progressing through IND-enabling activities ABCL386 progressing through IND-enabling activities
20 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e Q3 2026 FINANCIALS UPDATE
21 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e We continue to maintain a strong liquidity position to execute on our strategy * As of September 30, 2026 in total available government funding*>$100M in total cash balances & marketable securities*>$790M in available liquidity to execute on our strategy*>$890M
22 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e RESEARCH & DEVELOPMENT SALES, GENERAL & ADMIN Revenue USD Operating Expenses USD Q2 2025 Q2 2026 $17.1M $4.1M MILESTONES RESEARCH FEES LICENSING AND ROYALTY Q2 2025 Q2 2026 $39.2M $46.0M +$6.8M Q2 2025 Q2 2026 $22.0M $13.9M -$8.1M
23 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e Earnings USD NET EARNINGS EARNINGS PER SHARE: BASIC AND DILUTED Q2 2025 Q2 2026 ($34.7M) ($55.4M) Q2 2025 Q2 2026 ($0.12) ($0.18)
24 CO PY RI GH T © A BC EL LE RA Q3 2 02 6 Bu si ne ss U pd at e Cash Flows USD * Restricted cash (including restricted cash in other assets)
25 CO PY RI GH T © A BC EL LE RA THANK YOU