Stock Track | AbCellera's Q3 Loss Widens Amid Higher Expenses, Revenue Miss

Stock Track11-05

Shares of AbCellera Biologics plunged 9.34% in after-hours trading on November 4th, following the company's disappointing third-quarter results. The biotech firm reported a wider net loss for Q3 2024 as higher expenses overshadowed a slight decline in revenue.

For the quarter ended September 30th, AbCellera posted a net loss of $51.1 million or $0.17 per share, compared to a loss of $28.6 million or $0.10 per share in the year-ago period. Total revenue came in at $6.5 million, down 1.4% year-over-year, missing analysts' consensus estimate of $7.95 million.

The company's research and development expenses climbed to $41.0 million from $37.9 million in Q3 2023, driven by growth in program execution, platform development, and investments in internal programs. General and administrative expenses also increased to $19.1 million from $14.4 million.

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The biotech firm reported a wider net loss for Q3 2024 ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ABCL","symbol_name":"AbCellera Biologics","start_time":0,"source_url":"","article_id":"1151108196","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1151108196","pubTimestamp":1730755996,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of $AbCellera Biologics$ plunged 9.34% in after-hours trading on November 4th, following the company's disappointing third-quarter results. 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