AbCellera Biologics Inc 8-K, filed Nov 28, 2023
AbCellera Biologics Inc. (ABCL)
8-K
2023-11-28
For: 2023-11-28
View Original
Added on
April 08, 2026
About this 8-K
AbCellera Biologics Inc filed this 8-K on November 28, 2023.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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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 28, 2023
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Item 8.01 Other Events.
On November 28, 2023, AbCellera Biologics, Inc. (the “Company”) announced a reorganization and associated reduction in its workforce to better focus its efforts towards the clinical development of new antibody medicines for patients.
The reorganization is consistent with long-term plans to prioritize strategic partnerships and internal drug development, and to increase operational efficiency across the business. The workforce reduction impacts approximately ten (10) percent of the Company’s workforce. The Company estimates that it will incur approximately US$2.5 million in cash expense in connection with the workforce reduction.
With over US$1 billion in available liquidity, AbCellera has sufficient capital to execute on its strategy beyond the next 3 years.
This Item 8.01 contains "forward-looking" statements and estimates, including estimated restructuring costs. These statements are subject to a number of risks and uncertainties that could cause actual results to differ materially, including whether anticipated cost reductions will be achieved and other risks detailed in the “Risk Factors” section of our most recent periodic report filed with the SEC. These statements represent our estimates and assumptions only as of the date of this Current Report. We do not undertake any obligation to update publicly any such forward-looking statements, even if new information becomes available.
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 28, 2023 | ABCELLERA BIOLOGICS INC. | |||||||
| By: | /s/ Carl L. G. Hansen | |||||||
| Carl L. G. Hansen, Ph.D. | ||||||||
Chief Executive Officer and Director (Principal Executive Officer) | ||||||||