Jul. 21 at 11:48 PM
$ABCL
Most people price
$ABCL as a single molecule coin flip. That misreads what the company is. Two facts, connected:
🔬 1. The engine. AbCellera's core is microfluidic single cell screening, technology traced straight back to Stephen Quake's Stanford lab, where CEO Carl Hansen trained. They search millions of immune cells fast. Finding a rare antibody here is throughput, not luck. Engineering advantages compound.
💰 2. The war chest nobody credits. AbCellera co discovered bamlanivimab with Eli Lilly, one of the first COVID antibodies to reach patients. Those royalties filled the balance sheet years ago. That cash is what now funds the pivot from discovery service to its own pipeline, ABCL635 in the lead.
Connect them: a discovery machine that already paid for itself, now aimed at drugs ABCL owns outright instead of licenses out.
The market values the drug pipeline and ignores the machine that makes pipelines. I think that is backwards. you are buying the factory, not one product.
