AbCellera Biologics Inc. (NASDAQ:ABCL) Q1 2024 Earnings Call Transcript

Unidentified Analyst: Hello, this is Conor on Evan. Thanks for taking our question. I just have one follow-up on how you’re thinking about phasing of OpEx as you look to bring assets into clinic. Is there a sweet spot of how many assets you might look to have in the clinic at any given time and then sort of partner out any additional assets beyond that? Or I don’t know, just curious about that. Thank you.

Andrew Booth: Hey there, Conor, Andrew here. Yeah, good question. Of course, every program has its own nuances and it’s difficult to predict because it’s going to be driven by the scientific data and the clinical data about how many will advance. At the moment, as you know, we have two development candidates in IND enabling studies with the objective of having both of those at IND and starting a Phase 1 in 2025. We do have some funding available through this strategic innovation fund in the government of British Columbia that we announced last year that brought in that essentially were co-funding for a number of molecules through to the clinic over like an eight-year period. But that the rate at which they go in is very much going to depend on how good are the programs, what does the data look like and what the timing is as we bring them through IND enabling studies. So it’s very difficult to try and predict any sort of regular pace.

Unidentified Analyst: Thank you.

Operator: And I’m showing no further questions at this time. So I’d like to hand back over to Carl Hansen for any closing remarks.

Carl Hansen: Just thank you for everyone for joining us today. This remains an exciting time at the company and we’re looking forward to keeping you updated on future calls.

Operator: This concludes today’s conference call. Thank you all for joining. You may now disconnect your lines.