AbCellera Biologics Inc 8-K/A, filed May 17, 2021

AbCellera Biologics Inc. (ABCL)

8-K/A 2021-05-17 For: 2021-05-13

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Added on April 08, 2026

About this 8-K/A

AbCellera Biologics Inc filed this 8-K/A on May 17, 2021, reporting on events of May 13, 2021.

Items reported

Item 2.02: Financial results
Item 7.01: Regulation FD disclosure
Item 9.01: Financial statements and exhibits

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British Columbia		001-39781		Not Applicable
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification Number)

Title of each class	Trading symbol(s)	Name of each exchange on which registered
Common shares	ABCL	The Nasdaq Stock Market LLC


Exhibit No.						Description
99.1a						Press Release issued by AbCellera Biologics Inc. on May 14, 2021.
99.2						Corporate presentation.


Date: May 17, 2021	ABCELLERA BIOLOGICS, INC.

	By:	/s/ Carl L. G. Hansen
		Carl L. G. Hansen, Ph.D.
		Chief Executive Officer and Director (Principal Executive Officer)

Metric	March 31, 2020		March 31, 2021		Change %
Number of discovery partners		24		29	21%
Programs under contract, cumulative		73		119	63%
Program starts, cumulative		47		54	15%
Programs in the clinic		-		1	N/M

	Three months ended March 31,				Change
	2020		2021		Amount			%
	(in thousands, except percentages)
Revenue
Research fees	$	4,657	$	3,986	$	(671	)		-14	%
Licensing revenue		-		20,259		20,259		N/A
Milestone payments		-		7,000		7,000		N/A
Royalty revenue		-		171,496		171,496		N/A
Total revenue	$	4,657	$	202,741	$	198,084			4253	%

	December 31, 2020		March 31, 2021
Assets
Current assets:
Cash and cash equivalents	$	594,116	$	685,795
Accounts receivable		903		23,371
Accrued accounts receivable		212,336		193,071
Other current assets		5,970		5,745
Total current assets		813,325		907,982
Long term assets:
Property and equipment, net		17,923		34,618
Intangible assets		115,153		112,688
Goodwill		31,500		31,500
Investments in and loans to equity accounted investees		19,247		32,187
Other long-term assets		8,388		9,548
Total long-term assets		192,211		220,541
Total assets	$	1,005,536	$	1,128,523
Liabilities and shareholders' equity
Current liabilities:
Accounts payable and other liabilities	$	20,195	$	13,287
Current portion of contingent consideration payable		13,411		13,762
Income taxes payable		36,152		30,030
Accrued royalties payable		27,143		20,010
Deferred revenue		6,589		11,306
Total current liabilities		103,490		88,395
Long-term liabilities:
Operating lease liability		3,715		16,973
Deferred revenue and grant funding		25,894		28,730
Contingent consideration payable		9,148		9,378
Deferred tax liability		26,161		26,992
Other long-term liabilities		6,620		931
Total long-term liabilities		71,538		83,004
Total liabilities		175,028		171,399
Commitments and contingencies
Shareholders' equity:
Common shares: no par value, unlimited authorized shares at December 31, 2020 and March 31, 2021: 269,497,768 and 270,925,930 shares issued and outstanding at December 31, 2020 and March 31, 2021 respectively		710,387		711,139
Additional paid-in capital		5,919		14,562
Accumulated earnings		114,202		231,423
Total shareholders' equity		830,508		957,124
Total liabilities and shareholders' equity	$	1,005,536	$	1,128,523

	Three months ended March 31,
	2020			2021
Revenue:
Research fees	$	4,657		$	3,986
Licensing revenue		-			20,259
Milestone payments		-			7,000
Royalty revenue		-			171,496
Total revenue		4,657			202,741
Operating expenses:
Royalty fees		-			20,010
Research and development⁽¹⁾		4,118			12,352
Sales and marketing⁽¹⁾		437			2,578
General and administrative⁽¹⁾		1,650			6,422
Depreciation and amortization		574			3,305
Total operating expenses		6,779			44,667
Income (loss) from operations		(2,122	)		158,074
Other (income) expense
Other (income) expense		1,001			(265	)
Grants and incentives		(1,030	)		(3,148	)
Total other income		(29	)		(3,413	)
Net earnings (loss) before income tax		(2,093	)		161,487
Provision for income tax		-			44,266
Net earnings (loss) and comprehensive income (loss) for the period	$	(2,093	)	$	117,221
Net earnings (loss) per share attributable to common shareholders
Basic	$	(0.01	)	$	0.43
Diluted	$	(0.01	)	$	0.37
Weighted-average common shares outstanding
Basic		151,859,924			269,697,212
Diluted		151,859,924			320,282,747

	Three months ended March 31,
	2020			2021
Cash flows from operating activities:
Net income (loss)	$	(2,093	)	$	117,221
Cash flows from operating activities:
Depreciation of property and equipment		415			840
Amortization of intangible assets		158			2,465
Amortization of operating lease right-of-use-assets		73			661
Stock-based compensation		1,237			5,427
Deferred tax expense		-			623
Other		(28	)		(191	)
Changes in operating assets and liabilities:
Accounts and accrued research fees receivable		(26,611	)		(30,073	)
Accrued royalties receivable		-			26,861
Income taxes payable		-			(6,123	)
Accounts payable and accrued liabilities		(156	)		(5,194	)
Deferred revenue		27,676			6,086
Accrued royalties payable		-			(7,134	)
Other assets and liabilities		(1,435	)		(1,924	)
Net cash (used in) provided by operating activities		(764	)		109,545
Cash flows from investing activities:
Purchases of property and equipment		(583	)		(3,644	)
Purchase of intangible assets		(5,000	)		-
Investment in equity investees		-			(12,195	)
Net cash used in investing activities		(5,583	)		(15,839	)
Cash flows from financing activities:
Repayment of long-term debt		(2,033	)		(1,716	)
Proceeds from long-term debt		16,171			-
Payment of deferred financing fees		(799	)		-
Short-term borrowings		(387	)		-
Issuance of common shares pursuant to exercise of stock options		124			173
Proceeds from issuance of preferred shares - series A2 financing		74,662			-
Net cash provided by (used in) financing activities		87,738			(1,543	)
Effect of exchange rate changes on cash and cash equivalents					(484	)
Increase in cash and cash equivalents		81,391			91,679
Cash and cash equivalents, beginning of period		7,553			594,116
Cash and cash equivalents, end of period	$	88,944		$	685,795
Supplemental disclosure of non-cash investing and financing activities
Property plant and equipment in accounts payable		95			423
Right-of-use assets obtained in exchange for operating lease obligation	741				14,188