AbCellera

Abcellera Biologics shares rose to a 52-week high of $12.15 and are up about 172.5% year-to-date. Despite the rally, InvestingPro rates the stock as overvalued and the RSI indicates an overbought territory. In Q2 the company missed expectations with an adjusted loss of $0.18 per share and revenue of $4.1 million, but highlighted a strong cash position and announced a guaranteed public offering of $200 million. Positive top-line results from the Phase 2 study of ABCL635 prompted Truist to raise its price target from $12 to $30 while keeping a "Buy" rating. » Plus sur de.investing.com

Abcellera Biologics shares climbed to a 52-week high of $11.51 after gaining 148% over the past year and 259% in the past six months. An InvestingPro analysis classifies the stock as overvalued and points to an overbought condition based on the RSI. In Q2 the company reported an adjusted loss of $0.18 per share and revenue of $4.1 million, both below analysts' expectations. AbCellera announced a guaranteed public offering of $200 million and simultaneously reported positive Phase‑2 results for ABCL635, after which Truist significantly raised its price target. » Plus sur de.investing.com

AbCellera is offering 17,435,897 common shares at $9.75 per share, as well as pre-funded warrants to purchase up to 3,076,926 shares at $9.74999 each, and expects gross proceeds of approximately $200 million before fees. The closing is expected to occur on Friday, subject to customary conditions. Net proceeds are intended to fund research, development and clinical advancement of the internal pipeline, including the ABCL635 program, as well as working capital and general corporate purposes. » Plus sur de.investing.com