AbCellera Biologics Inc. Files 2023 Annual Report on Form 10-K

Ticker: ABCL · Form: 10-K · Filed: Feb 20, 2024 · CIK: 1703057

Abcellera Biologics INC. 10-K Filing Summary
FieldDetail
CompanyAbcellera Biologics INC. (ABCL)
Form Type10-K
Filed DateFeb 20, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$1 billion, $500 million, $250 million
Sentimentneutral

Sentiment: neutral

Topics: 10-K, AbCellera Biologics, Annual Report, Pharmaceutical Preparations, Financials

TL;DR

<b>AbCellera Biologics Inc. has filed its 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

AbCellera Biologics Inc. (ABCL) filed a Annual Report (10-K) with the SEC on February 20, 2024. AbCellera Biologics Inc. filed its 2023 Form 10-K on February 20, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business address is 2215 Yukon Street, Vancouver, BC, V5Y 0A1. AbCellera's SIC code is 2834 (Pharmaceutical Preparations). The filing includes financial data for the fiscal years 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking AbCellera Biologics Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of AbCellera's financial health, operational activities, and strategic direction for investors and stakeholders. The detailed financial statements and risk factors within the report are crucial for understanding the company's performance and future prospects in the pharmaceutical preparations industry.

Risk Assessment

Risk Level: medium — AbCellera Biologics Inc. shows moderate risk based on this filing. The company operates in the pharmaceutical preparations industry, which is subject to significant regulatory oversight and market competition, as indicated by its SIC code and the nature of its business.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess AbCellera's performance and potential growth opportunities.

Key Numbers

Key Players & Entities

FAQ

When did AbCellera Biologics Inc. file this 10-K?

AbCellera Biologics Inc. filed this Annual Report (10-K) with the SEC on February 20, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by AbCellera Biologics Inc. (ABCL).

Where can I read the original 10-K filing from AbCellera Biologics Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by AbCellera Biologics Inc..

What are the key takeaways from AbCellera Biologics Inc.'s 10-K?

AbCellera Biologics Inc. filed this 10-K on February 20, 2024. Key takeaways: AbCellera Biologics Inc. filed its 2023 Form 10-K on February 20, 2024.. The filing covers the fiscal year ending December 31, 2023.. The company's principal business address is 2215 Yukon Street, Vancouver, BC, V5Y 0A1..

Is AbCellera Biologics Inc. a risky investment based on this filing?

Based on this 10-K, AbCellera Biologics Inc. presents a moderate-risk profile. The company operates in the pharmaceutical preparations industry, which is subject to significant regulatory oversight and market competition, as indicated by its SIC code and the nature of its business.

What should investors do after reading AbCellera Biologics Inc.'s 10-K?

Investors should review the detailed financial statements and risk factors in the 10-K to assess AbCellera's performance and potential growth opportunities. The overall sentiment from this filing is neutral.

How does AbCellera Biologics Inc. compare to its industry peers?

AbCellera Biologics Inc. operates within the pharmaceutical preparations industry, focusing on drug discovery and development.

Are there regulatory concerns for AbCellera Biologics Inc.?

Companies in the pharmaceutical preparations sector are subject to stringent regulatory requirements from bodies like the FDA, impacting product development and market access.

Industry Context

AbCellera Biologics Inc. operates within the pharmaceutical preparations industry, focusing on drug discovery and development.

Regulatory Implications

Companies in the pharmaceutical preparations sector are subject to stringent regulatory requirements from bodies like the FDA, impacting product development and market access.

What Investors Should Do

  1. Review the full 10-K filing for detailed financial statements and management discussion.
  2. Analyze the company's business segments and revenue streams as presented in the report.
  3. Assess the identified risk factors and their potential impact on future operations.

Key Dates

Year-Over-Year Comparison

This is the initial 10-K filing for the period ending December 31, 2023, as indicated by the absence of prior year comparative data within the provided snippet.

Filing Stats: 4,443 words · 18 min read · ~15 pages · Grade level 15.9 · Accepted 2024-02-20 16:36:57

Key Financial Figures

Filing Documents

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 29 Item 1B. Unresolved Staff Comments 80 Item 1C. C ybersecurity 80 Item 2.

Properties

Properties 80 Item 3.

Legal Proceedings

Legal Proceedings 81 Item 4. Mine Safety Disclosures 82 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 83 Item 6. Reserved. 84 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 85 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 105 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 105 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 105 Item 9A.

Controls and Procedures

Controls and Procedures 106 Item 9B. Other Information 106 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 106 PART III Item 10. Directors, Executive Officers and Corporate Governance 107 Item 11.

Executive Compensation

Executive Compensation 109 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 109 Item 13. Certain Relationships and Related Transactions, and Director Independence 109 Item 14. Principal Accounting Fees and Services 109 PART IV Item 15. Exhibits, Financial Statement Schedules 110 Item 16 Form 10-K Summary 110 iii Summary of the Material and Other Risks Associated with Our Business Our business is subject to numerous material and other risks and uncertainties. You should carefully consider the following information together with the other information appearing elsewhere in this Annual Report, including our financial statements and related notes hereto. The occurrence of any of the following risks could have a material adverse effect on our business, financial condition, results of operations and future growth prospects. The risks and uncertainties described below may change over time and other risks and uncertainties, including those that we do not currently consider material, may impair our business. These risks include, but are not limited to, the following: We have incurred losses in certain years since inception, including in 2023, and we may not be able to generate sufficient revenue to achieve profitability. Our quarterly and annual operating results have fluctuated significantly in the past and may fluctuate significantly in the future, which makes our future operating results difficult to predict and could cause our operating results to fall below expectations. Unstable market and economic conditions may have serious adverse consequences on our business, financial condition, and stock price. Our commercial success depends on the quality of our antibody discovery and development engine and technological capabilities, the advancement of internal programs, and their acceptance by new and existing partners in our industry. Failure to execute our business strategy could adversely impact our growth and profitability.

Business

Item 1. Business. OVERVIEW We are a team of scientists, engineers, creatives, and business professionals addressing the barriers of conventional antibody drug development. Motivated by our mission to bring better antibody drugs to patients faster, we focus on solving general problems to catalyze a transformation in how antibody drugs are discovered and developed. To maximize the value and impact of our work, we are advancing a pipeline of programs and strategically partnering with groups that have novel science, innovative technology, or a strong track record of bringing programs through clinical development. We have several core beliefs that impact how we think about our business: 1. Investments in technology will improve the quality, speed, and success of drug development. 2. Long-term value-creation begins with building a company that can create multiple products repeatedly and successfully. 3. People are the foundation of success. 4. Building a great company takes time. We define our strategy and allocate resources to optimize long-term value. After over a decade of building our Company and working on over 100 drug discovery programs, we have grown from six entrepreneurial founders in a laboratory, to a high-performing team of approximately 600 people spread across three countries and two continents. We continue to invest in improving the efficiency of our business to increase the precision and speed by which we can bring new therapies to the clinic. We aspire to be recognized as the biotechnology industry's most powerful engine for antibody discovery and development, spanning the path from target to clinical testing. Drug development timelines are long We understand that the challenges and opportunities in biotechnology are different from those of other sectors. The process of developing drugs is complex and highly regulated, and as a result product development timelines are long. Historically, it has taken more than ten years for the average biologi

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