AbCellera Biologics has commenced an underwritten public offering of $200.0 million in common shares, with pre-funded warrants available in lieu of shares for certain investors, the company announced August 11, 2026.¹ AbCellera said it will use the net proceeds to fund continued research, development, and clinical advancement of its internal pipeline, including its lead clinical program, ABCL635, along with working capital and other general corporate purposes.¹
Key facts
- Company: AbCellera Biologics (Nasdaq: ABCL)
- Offering: $200.0 million common shares + pre-funded warrants
- Use of proceeds: Pipeline R&D, including lead program ABCL635; working capital
- Lead program: ABCL635 (NK3R antagonist antibody; non-hormonal VMS treatment)
- Recent milestone: Positive phase 2 topline results announced August 10, 2026 (NCT07118891)
- Key phase 2 data: 58% vs 12% VMS severity reduction (600 mg single dose vs placebo, p<.001)
- Regulatory status: No approval status disclosed; offering proposed, not yet completed
- Geography: US offering; no securities offered in Canada
What is the offering's structure?
The offering consists of common shares and, for certain investors in lieu of shares, pre-funded warrants to purchase common shares, all offered directly by AbCellera.¹ The offering is subject to market and other conditions, and the company said there is no assurance as to whether, when, or on what terms it will be completed.¹
Jefferies, J.P. Morgan, Cantor, UBS Investment Bank, and BMO Capital Markets are acting as joint book-running managers. The securities are being offered under a shelf registration statement on Form S-3ASR (No. 333-285367), filed with the United States Securities and Exchange Commission on February 27, 2025, which became effective automatically upon filing.¹
What is ABCL635, and why does it matter to this offering?
ABCL635 is AbCellera's lead clinical program and a potential first-in-class antibody targeting the neurokinin 3 receptor (NK3R), a G protein coupled receptor (GPCR) expressed on kisspeptin/neurokinin B/dynorphin neurons in the hypothalamus, developed as a non-hormonal, long-acting treatment for moderate-to-severe vasomotor symptoms (VMS), commonly known as hot flashes, due to menopause. It is the first program from AbCellera's GPCR and ion channel platform to advance into the clinic, entering in July 2025.²,³
Prior to announcing the public offering, AbCellera reported positive topline phase 2 results (NCT07118891) in 92 postmenopausal women who averaged about 10 moderate or severe hot flashes daily.² A single 600 mg subcutaneous dose of ABCL635 significantly reduced VMS frequency and severity compared with placebo through week 4 (p<.001), with severity dropping a mean 58% from baseline versus 12% for placebo, a 46% placebo-adjusted difference, and statistical significance was maintained from week 1 through week 4.² The study also showed a favorable tolerability profile, along with improvements in sleep and patient global impression of change, according to the company.²
