On August 29, AbCellera Biologics fell 8.02% in regular trading, trading at $11.395/share, with turnover of $33.19 million.
The decline came amid broad-based weakness across the Life Sciences Tools & Services sector. Among sector peers, Tempus AI fell 8.16%, Agilent declined 2.74%, Thermo Fisher Scientific dropped 2.05%, IQVIA fell 0.57%, and Danaher slipped 0.18%.
Adding to selling pressure, AbCellera completed a $200 million public offering on August 13, issuing approximately 17.4 million shares at $9.75 each along with pre-funded warrants for about 3.1 million additional shares. The dilutive offering, intended to fund R&D and clinical advancement of its lead program ABCL635, may continue to weigh on shares as newly issued stock enters the float. The stock had previously surged over 33% on August 10 following positive Phase 2 data for ABCL635 in treating menopausal hot flashes.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)