AbCellera Biologics Inc.
ABCL · Pharmaceutical Preparations · 305.4M shares · +18%/yr ↑ dilution · EDGAR filings ↗
Reference price $4.77 · est. market cap ~$1.5B — last insider purchase, 2026-05-14 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D46Antibody-discovery platform with deep losses and heavy cash burn, very well-funded.
Strengths
- Strong liquidity and growth — current ratio 11.3 (81st), revenue +161% (88th)
Risks
- Deep losses — operating margin -289%
- Heavy cash burn — FCF -$174M
- Partnership/royalty-timing dependence — per 10-K
Notable findings
- High convictionHigh conviction — notable institutional holders, insider buying, and a strong balance sheet
- Net lossNet loss (net margin -194.9%)
- Cash burnNegative free cash flow (-174.1M)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Chronic dilutionShare count +18%/yr over 4y (dilution, book value/share -51%)
- Insider buyingInsider buying — 4 open-market buy(s) by 3 insider(s) (cluster of 3 insiders, ~$952,096, last 6mo) Form 4 ↗
- Strong balance sheetStrong balance sheet — $534M cash & investments, ~12 quarters of runway
- Notable holderHeld by 4 notable fund(s): GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC, RENAISSANCE TECHNOLOGIES LLC +1 more (as of 2026-03-31)
- Trial readout soonUpcoming trial readout ~2027-02 — PHASE1/PHASE2 · Vasomotor Symptoms Associated With Menopause
- Revenue declineRevenue -81.5% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-289.0%
Net margin
-194.9%
Return on equity
-15.1%
Return on assets
-10.8%
Revenue growth (QoQ)
-81.5%
Current ratio
11.3×
Free cash flow
-$174M
Tangible book value
$881M
Cash & investments
$534M
Cash runway
12q
Stock comp / revenue
74.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-03 | Booth Andrew | Option exercise | 250K | $0.19 |
| 2026-05-14 | Montalbano John S. | Buy | 20K | $4.77 |
| 2026-02-27 | Thermopylae Holdings Ltd. | Buy | 38K | $3.44 |
| 2026-02-27 | Booth Andrew | Buy | 43K | $3.42 |
| 2026-02-26 | Thermopylae Holdings Ltd. | Buy | 177K | $3.27 |
| 2025-12-18 | Thermopylae Holdings Ltd. | Gift | 225K | — |
| 2025-11-26 | Montalbano John S. | Buy | 50K | $3.57 |
| 2025-03-11 | Thermopylae Holdings Ltd. | Buy | 344K | $2.16 |
| 2025-03-10 | Montalbano John S. | Buy | 25K | $2.30 |
| 2025-03-06 | Montalbano John S. | Buy | 60K | $2.34 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07108894 ↗ | A First-in-Human Phase 1 Single-Ascending Dose Study of ABCL575 in Healthy Participants Healthy Volunteers | PHASE1 | Active Not Recruiting | 2027-04-01 |
| NCT07118891 ↗ | Study Evaluating ABCL635 for Vasomotor Symptoms of Menopause Vasomotor Symptoms Associated With Menopause, Healthy Volunteers | PHASE1/PHASE2 | Active Not Recruiting | 2027-02-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-17 | OtherExhibits | filing ↗ |
| 2026-06-12 | Shareholder vote | filing ↗ |
| 2026-06-05 | Exec/director changeExhibits | filing ↗ |
| 2026-05-11 | ResultsReg FDExhibits | filing ↗ |
| 2026-02-24 | ResultsReg FDExhibits | filing ↗ |
| 2026-01-14 | Reg FDExhibits | filing ↗ |
| 2025-12-18 | Reg FDExhibits | filing ↗ |
| 2025-11-28 | Auditor changeExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-17 | 2026-06-17 | 0001703057-26-000035 ↗ |
| 8-K | 2026-06-12 | 2026-06-11 | 0001703057-26-000033 ↗ |
| 8-K | 2026-06-05 | 2026-06-01 | 0001703057-26-000031 ↗ |
| 10-Q | 2026-05-11 | 2026-03-31 | 0001703057-26-000028 ↗ |
| 8-K | 2026-05-11 | 2026-05-11 | 0001703057-26-000027 ↗ |
| 8-K | 2026-02-24 | 2026-02-24 | 0001703057-26-000010 ↗ |
| 10-K | 2026-02-24 | 2025-12-31 | 0001703057-26-000012 ↗ |
| 8-K | 2026-01-14 | 2026-01-12 | 0001703057-26-000003 ↗ |
| 8-K | 2025-12-18 | 2025-12-18 | 0001703057-25-000034 ↗ |
| 8-K | 2025-11-28 | 2025-11-24 | 0001703057-25-000032 ↗ |
| 8-K | 2025-11-12 | 2025-11-10 | 0001703057-25-000029 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001703057-25-000025 ↗ |