E Busy Tuesday

Tuesday is still a busy day despite my overnight capture of Monday's news for subscribers after Sundown. With Passover coming during Palm Sunday and Easter, there are only 3 full working days this week. We off start with 2020 results from Vancouver, a share recommended by Martin Ferrera. And give you a non-ADR to think about buying, a bonus stock. Sterling is down against the dollar but up against the euro confused British shares. The confusion was widespread as the complexities of Monday's market continued. The rule now is: nothing is written in stone.

Business newspaper article

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Drugmakers

*AbCellera Biologics reported after Monday's close what its CEO Carl Hansen Ph.D. called “a breakthrough year” with “strong growth across every area of the business”, thanks to its discovery of the first monoclonal antibody against covid-19. He also cited its strong cash position and profitability as likely to “help bring new antibody therapies to patients faster and more efficiently”.

ABCL had revenues of US$233 mn in 2020, of which $213 mn were from milestones and royalty payments. This was up 1.9% from the prior year. Diluted EPS rose 1908% from the prior year's loss of 1¢ to 45¢ and basic earnings to 53¢. Earnings came to $119 mn from $2 mn in 2019. It moved from operating losses of $4.117 mn last year to $156 mn in operating income in 2020. The key takeaway is that after paying no Canadian tax in 2019 because there were no net earnings, last year it set aside $39 mn for tax. It also paid down some $7.5 mn of debt and convertible shares boosting paid-in capital.

ABCL also signed up 27 new partners to bring the total to 103 partnerships, gaining research feels of $20 mn, up 71% in the year. Its first antibody to hit the market last year was Bamianivinab, which Eli Lilly is commercializing for emergency use now. Since there was a misunderstanding between me and Martin over when to buy ABCL at its IPO, I wanted to stress that all is forgiven as we are ahead nicely.

*Swiss Roche gained on the EU CHMP licensing its evrisdi to treat 4 variants of infantile spinal muscular atrophy. RHHBY works with PTC Therapeutics and the SMA Foundation on this baby-killer.

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