RTTNews | Dec 11, 2020 12:47AM EST

00:47 Friday, December 11, 2020 (RTTNews.com) - AbCellera Biologics is scheduled to make its debut on the Nasdaq Global Select Market today (December 11), under the ticker symbol "ABCL."

The Vancouver, Canada-based AbCellera Biologics is a technology company with an antibody discovery platform that searches, decodes, and analyzes natural immune systems to find antibodies that can be developed to prevent and treat diseases.

The company has offered to sell 24.15 million shares of its common stock at a price of $20 each. The underwriters have an option for a period of 30 days to purchase up to an additional 3.62 million shares.

The offering, which is scheduled to close on December 15, is expected to fetch gross proceeds of about $483.0 million for the company.

Underwriters of the IPO:

Credit Suisse Securities (USA) LLC, Stifel, Nicolaus & Company, Inc, Berenberg Capital Markets LLC, SVB Leerink LLC and BMO Capital Markets Corp.

Collaborations:

AbCellera Biologics has a partnership with Eli Lilly (LLY) to co-develop LY-CoV555, a potential antibody therapy to treat and prevent COVID-19.

The company also partnership agreements with Gilead Sciences, Novartis, Kodiak Sciences, IGM Biosciences, Invetx, Denali Therapeutics, GlaxoSmithKline, Pfizer, Sanofi and Teva Pharmaceutical Industries.

Financial Numbers:

The company generates revenue primarily from upfront payments from research programs.

For the nine months ended September 30, 2020, the company's net income was $1.92 million on total revenue of $25.25 million. This compared with net loss $0.6 million and total revenue of $8.41 million in the year-ago period.

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