AbCellera Biologics Inc. (NASDAQ:ABCL) rose 5.07% to $28.0 during premarket trading today. Last trading session, AbCellera stock lost -7.40% to settle at $26.65. ABCL stock ranged from $26.50 to $29.07. The ABCL stock soared on plans to expand the global headquarters.
ABCL’s global plan:
AbCellera detects antibodies that its partners can develop into drugs to treat and prevent disease by searching, decoding, and analyzing natural immune systems. Across the board, ABCL works with developers of pharmaceuticals, biotechnology companies, and pharmaceutical companies of all sizes to accelerate drug developments, reduce costs, and tackle the toughest barriers to success.
As part of its expansion plans to hire more than 300 additional employees over the next few years, AbCellera announced on Friday it has broken ground on a new global headquarters in Vancouver. ABCL’s planned tech campus in Mount Pleasant will feature two buildings totaling 380,000 square feet, which will be developed in partnership with Dayhu Group and Beedie.
ABCL’s strategy going forward:
The long-term vision of AbCellera (ABCL) in Vancouver includes the development of Canada’s first clinical-grade Good Manufacturing Practice (GMP) antibody manufacturing facility, which will provide Canada with the technology and infrastructure it needs to cope with potential pandemics. ABCL expects to complete the construction of facilities in 2023 and 2024.