The Globe and Mail reports in its Wednesday edition that AbCellera Biologics announced a $200-million public offering of common shares and prefunded warrants following positive trial results for its hot flash drug (all figures U.S.). The Globe's Sean Silcoff writes that Jefferies, JPMorgan, Cantor Fitzgerald, UBS Investment Bank and BMO Capital Markets are underwriting the deal. It's the first time the antibody developer has sold stock since its initial public offering in December, 2020, raising $555.5-million weeks after a treatment it discovered for hospitalized COVID-19 patients received emergency authorization for sale in the United States and Canada from regulators. That drug, marketed by Eli Lilly & Co., netted AbCellera nearly $1-billion in royalties. AbCellera's stock nearly tripled at its debut. However, as COVID-19 drug revenues declined, so did its stock price. In 2023, it began developing its own drugs. It received $300-million from the federal and British Columbia. governments to support its transition. AbCellera has moved quickly. Its lead drug, ABCL635, a treatment for hot flashes, entered clinical trials in July, 2025. The results from ABCL635 were better than expected.