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In a recent securities filing, Thermopylae Holdings Ltd. disclosed the acquisition of additional shares in AbCellera Biologics Inc. (NASDAQ:ABCL), which currently trades near its 52-week low of $2.11 and shows oversold conditions according to InvestingPro technical indicators. The investment firm purchased 343,631 common shares for a total of $742,242. The transaction was executed at a weighted-average price of $2.16 per share, with individual purchase prices ranging between $2.12 and $2.23. Following this acquisition, Thermopylae Holdings, which is recognized as a ten percent owner, now holds a total of 56,143,640 shares in the biotechnology company. The company maintains a strong balance sheet with more cash than debt and a healthy current ratio of 9.81. InvestingPro analysis reveals 12 additional key insights about ABCL’s financial health and market position, available exclusively to subscribers.
In other recent news, AbCellera Biologics reported its fourth-quarter and full-year financial results for 2024, highlighting a challenging year with declining revenues. The company recorded quarterly revenues of $5.1 million, falling short of the forecasted $7.58 million, and a net loss of $0.12 per share. For the full year, AbCellera’s revenue decreased to $28.8 million from $38.0 million in 2023, with a net loss per share widening to $0.55. Despite these financial setbacks, AbCellera announced the initiation of a new development partnership with AbbVie (NYSE:ABBV), focusing on a T-cell engager platform, and highlighted progress in two partnered molecules entering clinical trials.
Benchmark analysts maintained a Hold rating on AbCellera’s shares, citing the company’s transition into a clinical-stage biotechnology firm and its strategic focus on internal program development. AbCellera’s strong cash position, with over $650 million in cash, cash equivalents, and marketable securities, provides a buffer as the company reduces new discovery partnership activities. Looking forward, AbCellera plans to advance its lead programs, ABCL-635 and ABCL-575, with Clinical Trial Application filings expected in Q2 2025. The company aims to maintain similar cash usage in 2025 compared to 2024, ensuring sufficient liquidity for its pipeline investments over the next three years.
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