Total revenue of $317 million, compared to $203 million in Q1 2021
Six program starts in the quarter bringing cumulative total to 84, up 56% from Q1 2021
Net earnings of $0.59 per share on a basic and $0.54 on a diluted basis compared to $0.43 (basic) and $0.37 (diluted) per share in Q1 2021
VANCOUVER, British Columbia--(BUSINESS WIRE)--AbCellera (Nasdaq: ABCL), a technology company with a centralized operating system for next-generation antibody discovery, today announced financial results for the first quarter of 2022. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated.
“We entered 2022 with strong momentum that we leveraged to start new drug discovery programs and demonstrate the power of our platform by discovering a panel of CD3 antibodies for use in precision cancer treatments,” said Carl Hansen, Ph.D., CEO and President of AbCellera. “With our strong cash position and book of business, we also continued pursuing deal structures that allow us to capture more downstream value and expanded an existing partnership to include the option to co-develop therapeutic programs.”
Q1 2022 Business Summary
Key Business Metrics
Cumulative Metrics |
|
March 31, 2021 |
|
|
March 31, 2022 |
|
|
Change % |
|
|||
Number of discovery partners |
|
|
29 |
|
|
|
36 |
|
|
|
24 |
% |
Programs under contract |
|
|
119 |
|
|
|
158 |
|
|
|
33 |
% |
Program starts |
|
|
54 |
|
|
|
84 |
|
|
|
56 |
% |
Molecules in the clinic |
|
|
1 |
|
|
|
6 |
|
|
|
500 |
% |
AbCellera added two discovery programs in Q1 to reach a cumulative total of 158 discovery programs as of March 31, 2022 (up from 119 on March 31, 2021), that are either completed, in progress, or under contract with 36 different partners (up from 29 on March 31, 2021). AbCellera started discovery on an additional six programs in Q1 to reach a cumulative total of 84 program starts (up from 54 on March 31, 2021). AbCellera’s partners advanced one additional molecule into the clinic in Q1 2022, bringing the cumulative total to six.
Discussion of Q1 2022 Financial Results
Conference Call and Webcast
AbCellera will host a conference call and live webcast to discuss these results today at 2:00 p.m. Pacific Time (5:00 p.m. Eastern 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 is a technology company that searches, decodes, and analyzes natural immune systems to find antibodies that its partners can develop into drugs to prevent and treat disease. AbCellera partners with drug developers of all sizes, from large pharmaceutical to small biotechnology companies, empowering them to move quickly, reduce costs, and tackle the toughest problems in drug development. For more information, please visit www.abcellera.com.
Definition of Key Business Metrics
We regularly review the following key business metrics to evaluate our business, measure our performance, identify trends affecting our business, formulate financial projections, and make strategic decisions. We believe that the following metrics are important to understand our current business. These metrics may change or may be substituted for additional or different metrics as our business develops. For example, as our business matures and to the extent programs are discontinued, we anticipate updating these metrics to reflect such changes.
Number of discovery partners represents the unique number of partners with whom we have executed partnership contracts. We view this metric as an indication of the competitiveness of our technology stack and our current level of market penetration. The metric also relates to our opportunities to secure programs under contract.
Programs under contract represent the number of antibody development programs that are under contract for delivery of discovery research activities. A program under contract is counted when a contract is executed with a partner under which we commit to discover antibodies against one selected target. A target is any relevant antigen for which a partner seeks our support in developing binding antibodies. We view this metric as an indication of commercial success and technological competitiveness. It further relates to revenue from technology access fees. The cumulative number of programs under contract with downstream participation is related to our ability to generate future revenue from milestone payments and royalties.
Program starts represent the number of unique programs under contract for which we have commenced the discovery effort. The discovery effort commences on the later of (i) the day on which we receive sufficient reagents to start discovery of antibodies against a target and (ii) the day on which the kick-off meeting for the program is held. We view this metric as an indication of our operational capacity to execute on programs under contract. It is also an indication of the selection and initiation of discovery projects by our partners and the resulting near-term potential to earn research fees. Cumulatively, program starts with downstream participation indicate our total opportunities to earn downstream revenue from milestone fees and royalties in the mid- to long-term.
Molecules in the clinic represent the count of unique molecules for which an Investigational New Drug, or IND, New Animal Drug, or equivalent under other regulatory regimes, application has been approved based on an antibody that was discovered either by us or by a partner using licensed AbCellera technology. Where the date of such application approval is not known to us, the date of the first public announcement of a clinical trial will be used for the purpose of this metric. We view this metric as an indication of our near- and mid-term potential revenue from milestone fees and potential royalty payments in the long term.
AbCellera Forward-looking Statements
This press release 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 current beliefs and assumptions and on information currently available to management. All statements contained in this release 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, and plans and objectives for future operations.
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 and other factors 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 press release 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.
AbCellera Biologics Inc. Condensed Consolidated Statements of Income and Comprehensive Income (All figures in U.S. dollars. Amounts are expressed in thousands except share and per share data) (Unaudited) |
||||||||
|
|
Three months ended March 31, |
|
|||||
|
|
2021 |
|
|
2022 |
|
||
Revenue: |
|
|
|
|
|
|
|
|
Research fees |
|
$ |
3,986 |
|
|
$ |
9,333 |
|
Licensing revenue |
|
|
20,259 |
|
|
|
231 |
|
Milestone payments |
|
|
7,000 |
|
|
|
- |
|
Royalty revenue |
|
|
171,496 |
|
|
|
307,017 |
|
Total revenue |
|
|
202,741 |
|
|
|
316,581 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
Royalty fees |
|
|
20,010 |
|
|
|
44,637 |
|
Research and development(1) |
|
|
12,352 |
|
|
|
26,366 |
|
Sales and marketing(1) |
|
|
2,578 |
|
|
|
2,370 |
|
General and administrative(1) |
|
|
6,422 |
|
|
|
14,268 |
|
Depreciation and amortization |
|
|
3,305 |
|
|
|
3,990 |
|
Total operating expenses |
|
|
44,667 |
|
|
|
91,631 |
|
Income from operations |
|
|
158,074 |
|
|
|
224,950 |
|
Other (income) |
|
|
|
|
|
|
|
|
Other income |
|
|
(265 |
) |
|
|
(665 |
) |
Grants and incentives |
|
|
(3,148 |
) |
|
|
(5,194 |
) |
Total other (income) |
|
|
(3,413 |
) |
|
|
(5,859 |
) |
Net earnings before income tax |
|
|
161,487 |
|
|
|
230,809 |
|
Income tax expense |
|
|
44,266 |
|
|
|
62,236 |
|
Net earnings |
|
$ |
117,221 |
|
|
$ |
168,573 |
|
Foreign currency translation adjustment |
|
|
- |
|
|
|
507 |
|
Comprehensive income |
|
$ |
117,221 |
|
|
$ |
169,080 |
|
|
|
|
|
|
|
|
|
|
Net earnings per share attributable to common shareholders |
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.43 |
|
|
$ |
0.59 |
|
Diluted |
|
$ |
0.37 |
|
|
$ |
0.54 |
|
Weighted-average common shares outstanding |
|
|
|
|
|
|
|
|
Basic |
|
|
269,697,212 |
|
|
|
283,895,020 |
|
Diluted |
|
|
320,282,747 |
|
|
|
311,482,017 |
|
1 Exclusive of depreciation and amortization
AbCellera Biologics Inc. Condensed Consolidated Balance Sheet (All figures in U.S. dollars. Amounts are expressed in thousands except share data) (Unaudited) |
||||||||
|
|
December 31, 2021 |
|
|
March 31, 2022 |
|
||
Assets |
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
476,142 |
|
|
$ |
545,718 |
|
Marketable securities |
|
|
246,835 |
|
|
|
240,335 |
|
Total cash, cash equivalents, and marketable securities |
|
|
722,977 |
|
|
|
786,053 |
|
Accounts and accrued receivable |
|
|
160,576 |
|
|
|
334,403 |
|
Restricted cash |
|
|
25,000 |
|
|
|
25,000 |
|
Other current assets |
|
|
21,247 |
|
|
|
28,922 |
|
Total current assets |
|
|
929,800 |
|
|
|
1,174,378 |
|
Long-term assets: |
|
|
|
|
|
|
|
|
Property and equipment, net |
|
|
111,616 |
|
|
|
122,049 |
|
Intangible assets, net |
|
|
148,392 |
|
|
|
145,785 |
|
Goodwill |
|
|
47,806 |
|
|
|
47,806 |
|
Investments in and loans to equity accounted investees |
|
|
50,313 |
|
|
|
58,882 |
|
Other long-term assets |
|
|
30,642 |
|
|
|
43,389 |
|
Total long-term assets |
|
|
388,769 |
|
|
|
417,911 |
|
Total assets |
|
$ |
1,318,569 |
|
|
$ |
1,592,289 |
|
Liabilities and shareholders' equity |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable and other liabilities |
|
$ |
32,017 |
|
|
$ |
25,717 |
|
Current portion of contingent consideration payable |
|
|
22,934 |
|
|
|
27,499 |
|
Income taxes payable |
|
|
35,683 |
|
|
|
105,648 |
|
Accrued royalties payable |
|
|
22,506 |
|
|
|
45,364 |
|
Deferred revenue |
|
|
7,536 |
|
|
|
9,190 |
|
Total current liabilities |
|
|
120,676 |
|
|
|
213,418 |
|
Long-term liabilities: |
|
|
|
|
|
|
|
|
Operating lease liability |
|
|
36,413 |
|
|
|
36,356 |
|
Deferred revenue and grant funding |
|
|
60,758 |
|
|
|
64,151 |
|
Contingent consideration payable |
|
|
35,886 |
|
|
|
30,623 |
|
Deferred tax liability |
|
|
37,370 |
|
|
|
36,804 |
|
Other long-term liabilities |
|
|
1,733 |
|
|
|
3,430 |
|
Total long-term liabilities |
|
|
172,160 |
|
|
|
171,364 |
|
Total liabilities |
|
|
292,836 |
|
|
|
384,782 |
|
Commitments and contingencies |
|
|
|
|
|
|
|
|
Shareholders' equity: |
|
|
|
|
|
|
|
|
Common shares: no par value, unlimited authorized shares at December 31, 2021 and March 31, 2022: 283,257,104 and 284,521,181 shares issued and outstanding at December 31, 2021 and March 31, 2022, respectively |
|
|
722,430 |
|
|
|
725,755 |
|
Additional paid-in capital |
|
|
35,357 |
|
|
|
44,726 |
|
Accumulated other comprehensive income |
|
|
280 |
|
|
|
787 |
|
Accumulated earnings |
|
|
267,666 |
|
|
|
436,239 |
|
Total shareholders' equity |
|
|
1,025,733 |
|
|
|
1,207,507 |
|
Total liabilities and shareholders' equity |
|
$ |
1,318,569 |
|
|
$ |
1,592,289 |
|
AbCellera Biologics Inc. Condensed Consolidated Statement of Cash Flows (Expressed in thousands of U.S. dollars) (Unaudited) |
||||||||
|
|
Three months ended March 31, |
|
|||||
|
|
2021 |
|
|
2022 |
|
||
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
Net income |
|
$ |
117,221 |
|
|
$ |
168,573 |
|
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
Depreciation of property and equipment |
|
|
840 |
|
|
|
1,391 |
|
Amortization of intangible assets |
|
|
2,465 |
|
|
|
2,606 |
|
Amortization of operating lease right-of-use assets |
|
|
661 |
|
|
|
976 |
|
Stock-based compensation |
|
|
5,427 |
|
|
|
12,291 |
|
Other |
|
|
432 |
|
|
|
(592 |
) |
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
Accounts and accrued research fees receivable |
|
|
(30,073 |
) |
|
|
(8,751 |
) |
Accrued royalties receivable |
|
|
26,861 |
|
|
|
(167,914 |
) |
Income taxes payable |
|
|
(6,123 |
) |
|
|
69,965 |
|
Accounts payable and accrued liabilities |
|
|
(5,194 |
) |
|
|
751 |
|
Deferred revenue |
|
|
6,086 |
|
|
|
941 |
|
Accrued royalties payable |
|
|
(7,134 |
) |
|
|
22,857 |
|
Deferred grant revenue |
|
|
2,468 |
|
|
|
4,682 |
|
Other assets |
|
|
(4,392 |
) |
|
|
(7,557 |
) |
Net cash provided by operating activities |
|
|
109,545 |
|
|
|
100,219 |
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
Purchases of property and equipment |
|
|
(3,644 |
) |
|
|
(14,495 |
) |
Purchase of marketable securities |
|
|
- |
|
|
|
(51,774 |
) |
Proceeds from marketable securities |
|
|
- |
|
|
|
57,294 |
|
Receipt of grant funding |
|
|
- |
|
|
|
2,596 |
|
Long-term investments and other assets |
|
|
- |
|
|
|
(11,657 |
) |
Investment in and loans to equity accounted investees |
|
|
(12,195 |
) |
|
|
(8,335 |
) |
Net cash used in investing activities |
|
|
(15,839 |
) |
|
|
(26,371 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
Repayment of long-term debt and contingent consideration |
|
|
(1,716 |
) |
|
|
(72 |
) |
Proceeds from long-term debt and issuance of common shares pursuant to exercise of stock options |
|
|
173 |
|
|
|
1,941 |
|
Payment of liability for in-licensing agreement |
|
|
- |
|
|
|
(5,000 |
) |
Net cash provided by (used in) financing activities |
|
|
(1,543 |
) |
|
|
(3,131 |
) |
Effect of exchange rate changes on cash and cash equivalents |
|
|
(484 |
) |
|
|
(204 |
) |
Increase in cash and cash equivalents |
|
|
91,679 |
|
|
|
70,513 |
|
Cash and cash equivalents and restricted cash, beginning of period |
|
|
594,116 |
|
|
|
501,142 |
|
Cash and cash equivalents and restricted cash, end of period |
|
$ |
685,795 |
|
|
$ |
571,655 |
|
Restricted cash included in other long-term assets |
|
|
- |
|
|
|
(937 |
) |
Total cash, cash equivalents and restricted cash shown in the statement of cash flows |
|
$ |
685,795 |
|
|
$ |
570,718 |
|
Supplemental disclosure of non-cash investing and financing activities |
|
|
|
|
|
|
|
|
Property plant and equipment in accounts payable |
|
|
423 |
|
|
|
2,353 |
|
Right-of-use assets obtained in exchange for operating lease obligation |
|
|
14,188 |
|
|
|
658 |
|
Source: AbCellera Biologics Inc.
Общая выручка составила $317 млн по сравнению с $203 млн в 1 квартале 2021 года
Шесть программ стартуют в этом квартале, в результате чего общее количество программ достигнет 84, что на 56% больше, чем в 1 квартале 2021 года
Чистая прибыль составила $0,59 на акцию на базовой и $0,54 на разводненной основе по сравнению с $0,43 (базовая) и $0,37 (разводненная) на акцию в 1 квартале 2021 года
ВАНКУВЕР, Британская Колумбия -- (BUSINESS WIRE) -- AbCellera (Nasdaq: ABCL), технологическая компания с централизованной операционной системой для обнаружения антител нового поколения, сегодня объявила финансовые результаты за первый квартал 2022 года. Вся финансовая информация в данном пресс-релизе представлена в долларах США, если не указано иное.
“Мы вступили в 2022 год с сильным импульсом, который мы использовали для запуска новых программ по разработке лекарств и демонстрации возможностей нашей платформы, открыв панель антител CD3 для использования в точных методах лечения рака”, - сказал Карл Хансен, доктор философии, генеральный директор и президент AbCellera. “С нашей сильной денежной позицией и балансом бизнеса мы также продолжали использовать структуры сделок, которые позволяют нам получать больше прибыли от последующей деятельности, и расширили существующее партнерство, включив в него возможность совместной разработки терапевтических программ”.
Резюме деятельности за 1 квартал 2022 года
Ключевые Бизнес-показатели
Cumulative Metrics |
|
March 31, 2021 |
|
|
March 31, 2022 |
|
|
Change % |
|
|||
Number of discovery partners |
|
|
29 |
|
|
|
36 |
|
|
|
24 |
% |
Programs under contract |
|
|
119 |
|
|
|
158 |
|
|
|
33 |
% |
Program starts |
|
|
54 |
|
|
|
84 |
|
|
|
56 |
% |
Molecules in the clinic |
|
|
1 |
|
|
|
6 |
|
|
|
500 |
% |
AbCellera добавила две программы обнаружения в первом квартале, чтобы достичь совокупного количества в 158 программ обнаружения по состоянию на 31 марта 2022 года (по сравнению со 119 на 31 марта 2021 года), которые либо завершены, либо находятся в стадии разработки, либо по контракту с 36 различными партнерами (по сравнению с 29 на 31 марта 2021 года). AbCellera запустила discovery еще по шести программам в первом квартале, чтобы достичь в общей сложности 84 запуска программ (по сравнению с 54 на 31 марта 2021 года). Партнеры AbCellera внедрили в клинику еще одну молекулу в 1 квартале 2022 года, доведя общее количество до шести.
Обсуждение финансовых результатов за 1 квартал 2022 года
Конференц-связь и веб-трансляция
AbCellera проведет телефонную конференцию и прямую веб-трансляцию, чтобы обсудить эти результаты сегодня в 14:00 по Тихоокеанскому времени (17:00 по Восточному времени).
Прямая трансляция телефонной конференции по доходам доступна в разделе "Мероприятия и презентации" веб-сайта AbCellera по связям с инвесторами. Воспроизведение веб-трансляции будет доступно по той же ссылке после телефонной конференции.
О компании AbCellera Biologics Inc.
AbCellera - технологическая компания, которая ищет, расшифровывает и анализирует естественные иммунные системы, чтобы найти антитела, которые ее партнеры могут превратить в лекарства для профилактики и лечения заболеваний. AbCellera сотрудничает с разработчиками лекарств всех размеров, от крупных фармацевтических до небольших биотехнологических компаний, предоставляя им возможность быстро двигаться, снижать затраты и решать самые сложные проблемы при разработке лекарств. Для получения дополнительной информации, пожалуйста, посетите www.abcellera.com .
Определение ключевых бизнес-показателей
Мы регулярно анализируем следующие ключевые бизнес-показатели для оценки нашего бизнеса, измерения нашей эффективности, выявления тенденций, влияющих на наш бизнес, формулирования финансовых прогнозов и принятия стратегических решений. Мы считаем, что следующие показатели важны для понимания нашего текущего бизнеса. Эти показатели могут изменяться или могут быть заменены дополнительными или другими показателями по мере развития нашего бизнеса. Например, по мере развития нашего бизнеса и прекращения программ мы ожидаем обновления этих показателей, чтобы отразить такие изменения.
Количество партнеров discovery представляет собой уникальное количество партнеров, с которыми мы заключили партнерские контракты. Мы рассматриваем этот показатель как показатель конкурентоспособности нашего технологического стека и нашего текущего уровня проникновения на рынок. Этот показатель также относится к нашим возможностям по обеспечению безопасности программ по контракту.
Программы по контракту представляют собой количество программ разработки антител, которые заключены по контракту на проведение исследований в области обнаружения. Программа по контракту учитывается, когда выполняется контракт с партнером, в соответствии с которым мы обязуемся обнаруживать антитела против одной выбранной цели. Мишенью является любой релевантный антиген, к которому партнер обращается за нашей поддержкой в разработке связывающих антител. Мы рассматриваем этот показатель как показатель коммерческого успеха и технологической конкурентоспособности. Это также относится к доходам от платы за доступ к технологиям. Совокупное количество программ по контракту с последующим участием связано с нашей способностью генерировать будущий доход от поэтапных платежей и роялти.
Запуск программы представляет собой количество уникальных программ по контракту, для которых мы начали поиск. Работа по обнаружению начинается позднее (i) дня, когда мы получаем достаточное количество реагентов, чтобы начать обнаружение антител против мишени, и (ii) дня, когда проводится стартовое совещание по программе. Мы рассматриваем этот показатель как показатель нашей операционной способности выполнять программы по контракту. Это также свидетельствует о выборе и инициировании нашими партнерами исследовательских проектов и вытекающем из этого краткосрочном потенциале получения гонораров за исследования. Совокупно, начало программы с участием нисходящего потока указывает на наши общие возможности получения дохода от нисходящего потока за счет сборов за этапы и роялти в среднесрочной и долгосрочной перспективе.
Молекулы в клинике представляют собой количество уникальных молекул, для которых было одобрено применение Нового Исследуемого Препарата или IND, Нового Препарата для животных или эквивалентного препарата в соответствии с другими режимами регулирования на основе антитела, которое было обнаружено либо нами, либо партнером с использованием лицензированной технологии AbCellera. Если дата одобрения такой заявки нам неизвестна, для целей этого показателя будет использоваться дата первого публичного объявления о клиническом исследовании. Мы рассматриваем этот показатель как показатель нашего потенциального дохода в ближайшей и среднесрочной перспективе от сборов за этапы и потенциальных выплат роялти в долгосрочной перспективе.
Прогнозные заявления AbCellera
Настоящий пресс-релиз содержит заявления прогнозного характера, в том числе заявления, сделанные в соответствии с положениями Закона о реформе судебных разбирательств по частным ценным бумагам 1995 года о безопасной гавани. Прогнозные заявления основаны на текущих убеждениях и предположениях руководства, а также на информации, имеющейся в настоящее время у руководства. Все заявления, содержащиеся в этом релизе, кроме заявлений об исторических фактах, являются прогнозными заявлениями, включая заявления относительно нашей способности разрабатывать, коммерциализировать и добиваться признания рынком наших текущих и планируемых продуктов и услуг, наших исследований и разработок, а также других вопросов, касающихся наших бизнес-стратегий, использования капитала, результатов операции и финансовое положение, а также планы и цели будущих операций.
В некоторых случаях вы можете определить прогнозные заявления по словам “может”, “будет”, “мог бы”, “хотел бы”, “должен”, “ожидать”, “намереваться”, “планировать”, “предвидеть”, “полагать”, “оценивать”, “прогнозировать, ”проект”, “потенциал”, “продолжение”, “продолжается” или отрицательное значение этих терминов или другой сопоставимой терминологии, хотя не все прогнозные заявления содержат эти слова. Эти заявления связаны с рисками, неопределенностями и другими факторами, которые могут привести к тому, что фактические результаты, уровни активности, производительности или достижений будут существенно отличаться от информации, выраженной или подразумеваемой в этих прогнозных заявлениях. Эти риски, неопределенности и другие факторы описаны в разделе "Факторы риска", "Обсуждение и анализ руководством Финансового состояния и результатов деятельности" и в других документах, которые мы время от времени подаем в Комиссию по ценным бумагам и биржам. Мы предупреждаем вас, что прогнозные заявления основаны на сочетании фактов и факторов, известных нам в настоящее время, и наших прогнозах на будущее, в которых мы не можем быть уверены. В результате прогнозные заявления могут оказаться неточными. Прогнозные заявления в этом пресс-релизе отражают наши взгляды на дату настоящего документа. Мы не берем на себя никаких обязательств по обновлению каких-либо прогнозных заявлений по какой-либо причине, за исключением случаев, предусмотренных законом.
AbCellera Biologics Inc. Condensed Consolidated Statements of Income and Comprehensive Income (All figures in U.S. dollars. Amounts are expressed in thousands except share and per share data) (Unaudited) |
||||||||
|
|
Three months ended March 31, |
|
|||||
|
|
2021 |
|
|
2022 |
|
||
Revenue: |
|
|
|
|
|
|
|
|
Research fees |
|
$ |
3,986 |
|
|
$ |
9,333 |
|
Licensing revenue |
|
|
20,259 |
|
|
|
231 |
|
Milestone payments |
|
|
7,000 |
|
|
|
- |
|
Royalty revenue |
|
|
171,496 |
|
|
|
307,017 |
|
Total revenue |
|
|
202,741 |
|
|
|
316,581 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
Royalty fees |
|
|
20,010 |
|
|
|
44,637 |
|
Research and development(1) |
|
|
12,352 |
|
|
|
26,366 |
|
Sales and marketing(1) |
|
|
2,578 |
|
|
|
2,370 |
|
General and administrative(1) |
|
|
6,422 |
|
|
|
14,268 |
|
Depreciation and amortization |
|
|
3,305 |
|
|
|
3,990 |
|
Total operating expenses |
|
|
44,667 |
|
|
|
91,631 |
|
Income from operations |
|
|
158,074 |
|
|
|
224,950 |
|
Other (income) |
|
|
|
|
|
|
|
|
Other income |
|
|
(265 |
) |
|
|
(665 |
) |
Grants and incentives |
|
|
(3,148 |
) |
|
|
(5,194 |
) |
Total other (income) |
|
|
(3,413 |
) |
|
|
(5,859 |
) |
Net earnings before income tax |
|
|
161,487 |
|
|
|
230,809 |
|
Income tax expense |
|
|
44,266 |
|
|
|
62,236 |
|
Net earnings |
|
$ |
117,221 |
|
|
$ |
168,573 |
|
Foreign currency translation adjustment |
|
|
- |
|
|
|
507 |
|
Comprehensive income |
|
$ |
117,221 |
|
|
$ |
169,080 |
|
|
|
|
|
|
|
|
|
|
Net earnings per share attributable to common shareholders |
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.43 |
|
|
$ |
0.59 |
|
Diluted |
|
$ |
0.37 |
|
|
$ |
0.54 |
|
Weighted-average common shares outstanding |
|
|
|
|
|
|
|
|
Basic |
|
|
269,697,212 |
|
|
|
283,895,020 |
|
Diluted |
|
|
320,282,747 |
|
|
|
311,482,017 |
|
1 Без учета износа и амортизации
AbCellera Biologics Inc. Condensed Consolidated Balance Sheet (All figures in U.S. dollars. Amounts are expressed in thousands except share data) (Unaudited) |
||||||||
|
|
December 31, 2021 |
|
|
March 31, 2022 |
|
||
Assets |
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
476,142 |
|
|
$ |
545,718 |
|
Marketable securities |
|
|
246,835 |
|
|
|
240,335 |
|
Total cash, cash equivalents, and marketable securities |
|
|
722,977 |
|
|
|
786,053 |
|
Accounts and accrued receivable |
|
|
160,576 |
|
|
|
334,403 |
|
Restricted cash |
|
|
25,000 |
|
|
|
25,000 |
|
Other current assets |
|
|
21,247 |
|
|
|
28,922 |
|
Total current assets |
|
|
929,800 |
|
|
|
1,174,378 |
|
Long-term assets: |
|
|
|
|
|
|
|
|
Property and equipment, net |
|
|
111,616 |
|
|
|
122,049 |
|
Intangible assets, net |
|
|
148,392 |
|
|
|
145,785 |
|
Goodwill |
|
|
47,806 |
|
|
|
47,806 |
|
Investments in and loans to equity accounted investees |
|
|
50,313 |
|
|
|
58,882 |
|
Other long-term assets |
|
|
30,642 |
|
|
|
43,389 |
|
Total long-term assets |
|
|
388,769 |
|
|
|
417,911 |
|
Total assets |
|
$ |
1,318,569 |
|
|
$ |
1,592,289 |
|
Liabilities and shareholders' equity |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable and other liabilities |
|
$ |
32,017 |
|
|
$ |
25,717 |
|
Current portion of contingent consideration payable |
|
|
22,934 |
|
|
|
27,499 |
|
Income taxes payable |
|
|
35,683 |
|
|
|
105,648 |
|
Accrued royalties payable |
|
|
22,506 |
|
|
|
45,364 |
|
Deferred revenue |
|
|
7,536 |
|
|
|
9,190 |
|
Total current liabilities |
|
|
120,676 |
|
|
|
213,418 |
|
Long-term liabilities: |
|
|
|
|
|
|
|
|
Operating lease liability |
|
|
36,413 |
|
|
|
36,356 |
|
Deferred revenue and grant funding |
|
|
60,758 |
|
|
|
64,151 |
|
Contingent consideration payable |
|
|
35,886 |
|
|
|
30,623 |
|
Deferred tax liability |
|
|
37,370 |
|
|
|
36,804 |
|
Other long-term liabilities |
|
|
1,733 |
|
|
|
3,430 |
|
Total long-term liabilities |
|
|
172,160 |
|
|
|
171,364 |
|
Total liabilities |
|
|
292,836 |
|
|
|
384,782 |
|
Commitments and contingencies |
|
|
|
|
|
|
|
|
Shareholders' equity: |
|
|
|
|
|
|
|
|
Common shares: no par value, unlimited authorized shares at December 31, 2021 and March 31, 2022: 283,257,104 and 284,521,181 shares issued and outstanding at December 31, 2021 and March 31, 2022, respectively |
|
|
722,430 |
|
|
|
725,755 |
|
Additional paid-in capital |
|
|
35,357 |
|
|
|
44,726 |
|
Accumulated other comprehensive income |
|
|
280 |
|
|
|
787 |
|
Accumulated earnings |
|
|
267,666 |
|
|
|
436,239 |
|
Total shareholders' equity |
|
|
1,025,733 |
|
|
|
1,207,507 |
|
Total liabilities and shareholders' equity |
|
$ |
1,318,569 |
|
|
$ |
1,592,289 |
|
AbCellera Biologics Inc. Condensed Consolidated Statement of Cash Flows (Expressed in thousands of U.S. dollars) (Unaudited) |
||||||||
|
|
Three months ended March 31, |
|
|||||
|
|
2021 |
|
|
2022 |
|
||
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
Net income |
|
$ |
117,221 |
|
|
$ |
168,573 |
|
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
Depreciation of property and equipment |
|
|
840 |
|
|
|
1,391 |
|
Amortization of intangible assets |
|
|
2,465 |
|
|
|
2,606 |
|
Amortization of operating lease right-of-use assets |
|
|
661 |
|
|
|
976 |
|
Stock-based compensation |
|
|
5,427 |
|
|
|
12,291 |
|
Other |
|
|
432 |
|
|
|
(592 |
) |
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
Accounts and accrued research fees receivable |
|
|
(30,073 |
) |
|
|
(8,751 |
) |
Accrued royalties receivable |
|
|
26,861 |
|
|
|
(167,914 |
) |
Income taxes payable |
|
|
(6,123 |
) |
|
|
69,965 |
|
Accounts payable and accrued liabilities |
|
|
(5,194 |
) |
|
|
751 |
|
Deferred revenue |
|
|
6,086 |
|
|
|
941 |
|
Accrued royalties payable |
|
|
(7,134 |
) |
|
|
22,857 |
|
Deferred grant revenue |
|
|
2,468 |
|
|
|
4,682 |
|
Other assets |
|
|
(4,392 |
) |
|
|
(7,557 |
) |
Net cash provided by operating activities |
|
|
109,545 |
|
|
|
100,219 |
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
Purchases of property and equipment |
|
|
(3,644 |
) |
|
|
(14,495 |
) |
Purchase of marketable securities |
|
|
- |
|
|
|
(51,774 |
) |
Proceeds from marketable securities |
|
|
- |
|
|
|
57,294 |
|
Receipt of grant funding |
|
|
- |
|
|
|
2,596 |
|
Long-term investments and other assets |
|
|
- |
|
|
|
(11,657 |
) |
Investment in and loans to equity accounted investees |
|
|
(12,195 |
) |
|
|
(8,335 |
) |
Net cash used in investing activities |
|
|
(15,839 |
) |
|
|
(26,371 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
Repayment of long-term debt and contingent consideration |
|
|
(1,716 |
) |
|
|
(72 |
) |
Proceeds from long-term debt and issuance of common shares pursuant to exercise of stock options |
|
|
173 |
|
|
|
1,941 |
|
Payment of liability for in-licensing agreement |
|
|
- |
|
|
|
(5,000 |
) |
Net cash provided by (used in) financing activities |
|
|
(1,543 |
) |
|
|
(3,131 |
) |
Effect of exchange rate changes on cash and cash equivalents |
|
|
(484 |
) |
|
|
(204 |
) |
Increase in cash and cash equivalents |
|
|
91,679 |
|
|
|
70,513 |
|
Cash and cash equivalents and restricted cash, beginning of period |
|
|
594,116 |
|
|
|
501,142 |
|
Cash and cash equivalents and restricted cash, end of period |
|
$ |
685,795 |
|
|
$ |
571,655 |
|
Restricted cash included in other long-term assets |
|
|
- |
|
|
|
(937 |
) |
Total cash, cash equivalents and restricted cash shown in the statement of cash flows |
|
$ |
685,795 |
|
|
$ |
570,718 |
|
Supplemental disclosure of non-cash investing and financing activities |
|
|
|
|
|
|
|
|
Property plant and equipment in accounts payable |
|
|
423 |
|
|
|
2,353 |
|
Right-of-use assets obtained in exchange for operating lease obligation |
|
|
14,188 |
|
|
|
658 |
|
Источник: AbCellera Biologics Inc.
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