Management commentary
“Last quarter we completed enrollment for the Phase 2 study of ABCL635, and we expect to announce top-line data very soon,” said Carl Hansen, Ph.D., founder and CEO of AbCellera.
1“Since our last business update we signed two new collaborations, one with Jazz and one with Vertex, that leverage our T-cell engager platform to advance programs into the clinic and are adding over $100 million in upfront cash to our balance sheet.”
Results
Q2 2026 Business Summary and Program Updates
Outlook
ABCL635 top-line data readout from the Phase 2 trial expected in August 2026.
Management commentary
ABCL386 and ABCL688 are progressing through IND-enabling activities.
Corporate events
Announced collaboration with Jazz Pharmaceuticals plc to discover and develop next-generation T-cell engagers (TCEs) for multiple gastrointestinal cancers and other solid tumors.
AbCellera is receiving $84 million in total upfront payments, with $56 million for the first two research programs and $28 million for a third program, which will initiate within 12 months.
AbCellera is eligible to receive up to $792 million per program in option fees and development, regulatory, and commercial sales milestone payments along with tiered royalties on net sales ranging from mid-single digits to low double digits.
Completed dosing for the Phase 1 study of ABCL575, with top-line data readout expected in Q4 2026.
Announced the appointments of Dr. Victor Sandor and Dr. Lynn Seely as independent directors to AbCellera’s board of directors.
Results
4Generated a net loss of $55.4 million, compared to a net loss of $34.7 million in Q2 2025.
8Ended the quarter with over $565 million in total cash balances and marketable securities, providing over $675 million in total available liquidity to execute on AbCellera’s strategy.
Corporate events
Subsequent Event
On July 29, 2026 announced a collaboration with Vertex Pharmaceuticals Incorporated to research, develop, manufacture, and commercialize multispecific TCEs for autoimmune diseases and other conditions.
AbCellera will receive $28 million in total
upfront payments and is eligible to receive preclinical, development, regulatory, and commercial milestone payments, along with tiered royalties on net sales.
Results
Discussion of Q2 2026 Financial Results
3Revenue – Total revenue was $4.1 million, compared to $17.1 million in Q2 2025.
7Research & Development (R&D) Expenses – R&D expenses were $46.0 million, compared to $39.2 million in Q2 2025.
6Sales, General, & Administrative (SG&A) Expenses – SG&A expenses were $13.9 million, compared to $22.0 million in Q2 2025.
5Net Loss – Net loss of $55.4 million, or $(0.18) per share on a basic and diluted basis, compared to net loss of $34.7 million, or $(0.12) per share on a basic and diluted basis, in Q2 2025.
2Available Liquidity – over $565 million in total cash balances and marketable securities, and $110 million in available non-dilutive government funding, bringing total available liquidity to over $675 million to execute on AbCellera's strategy.
Business Metrics
At the end of Q2 2026, partners led 35 programs that AbCellera believes to be progressing and where AbCellera holds a downstream stake (down from 44 on December 31, 2025).
In total, AbCellera held downstream stakes in 12 molecules in the clinic understood to be progressing on June 30, 2026.
26 boilerplate lines (safe-harbor disclaimer, contacts, call details) are set aside.