Donc il faut surveiller les revenus différés au bilan pour juger de la croissance future.
À la fin du Q3 2019 de 624K$, en hausse de 318K$ mais significativement sous les attentes des actionnaires selon moi. À surveiller au cours des prochains trimestres.
VICTORIA, April 9, 2019 /CNW/ - IMMUNOPRECISE ANTIBODIES LTD. (the “Company” or “IPA”) (TSX VENTURE: IPA) (OTC PINK: IPATF) is pleased to announce the extension of its collaboration with TetraGenetics, a biopharmaceutical company developing novel therapeutics for autoimmune diseases. The alliance is focused on the discovery of novel human monoclonal antibodies against three undisclosed therapeutically-relevant ion-channels.
“We are pleased to work with ImmunoPrecise, utilizing their customized phage library technology,” said Douglas Kahn, TetraGenetics Chairman and CEO. “We expect our unique ion channel screening tools to enable deep mining of ImmunoPrecise’s patient library repertoire to identify rare and functional monoclonal antibodies that we can develop as therapeutics”
This multi-target service agreement is the result of a successful research collaboration, utilizing ModiQuests’ natural human phage library repertoire combined with TetraGenetics’ unique ion channel screening tools, in which a multitude of potent pre-clinical lead antibodies were discovered.
“TetraGenetics’ unique capability to generate high concentrations of difficult-to-produce ion channel proteins caught our attention,” said Jennifer Bath, CEO of ImmunoPrecise. “TetraGenetics will provide us with unique screening formulations which should be highly effective for antibody discovery with our proprietary libraries. We’re look forward to a close collaboration with TetraGenetics, and are excited by the potential of combining the two unique technologies.”
Ted Clark, Chief Scientific Officer and Founder of TetraGenetics added, “Combining TetraGenetics and ImmunoPrecise proprietary technologies is likely to lead to the discovery of novel therapeutic antibodies to previously intractable targets for a variety of unmet medical needs. We’re eager to expand this collaboration”
About TetraGenetics
TetraGenetics is focused on the discovery and development of first-in-class biologic medicines for autoimmune diseases, oncology and pain. The company has the leading drug discovery platform (TetraExpress™) for identifying antibodies targeting ion channels and other transmembrane proteins. TetraGenetics establishes collaborative partnerships with major biotech companies for antibody drug discovery and is also actively developing its own proprietary drug pipeline. For more information, please visit: www.tetragenetics.com.
ImmunoPrecise Appoints Andy Nixon to Board of Directors
VICTORIA, April 11, 2019 /CNW/ - IMMUNOPRECISE ANTIBODIES LTD. (the “Company” or “IPA”) (TSX VENTURE: IPA) (OTC PINK: IPATF) announces that it has appointed Andy Nixon, Vice President of Biotherapeutics Molecule Discovery at Boehringer Ingelheim, as a member of its board of directors.
Dr. Nixon is a pharma executive with 20 years of industry experience and a proven track record of leading cross-functional teams to solve complex problems. He possesses deep domain expertise in biologic drug discovery and non-clinical development and led the research team that developed Dyax’s pipeline therapeutic candidates that resulted in Shire’s acquisition of Dyax in 2016 for $5.9B.
“As IPA advances its strategy for accelerated growth in the custom therapeutic antibody space, and for sustainable shareholder value creation, Dr. Nixon brings a unique depth of experience and expertise that is directly relevant to IPA”, said Jennifer Bath, IPA’s CEO and President. “We are pleased to have Dr. Nixon support IPA through the next phase of our development. He is highly accomplished and has a strong record in successfully navigating today’s rapidly changing technological environment.”
With the addition of Dr. Nixon, the full IPA board will comprise seven members, six of which are independent directors. The continued refreshment of the board augments its diversity and experience and adds new perspectives in the different areas relevant to IPA.
About Boehringer Ingelheim
Improving the health and quality of life of patients is the goal of the research-driven pharmaceutical company Boehringer Ingelheim. The focus in doing so is on diseases for which no satisfactory treatment option exists to date. The company therefore concentrates on developing innovative therapies that can extend patients’ lives. In animal health, Boehringer Ingelheim stands for advanced prevention.
Family-owned since it was established in 1885, Boehringer Ingelheim is one of the pharmaceutical industry’s top 20 companies. Some 50,000 employees create value through innovation daily for the three business areas human pharmaceuticals, animal health and biopharmaceuticals. In 2017, Boehringer Ingelheim achieved net sales of nearly 18.1 billion euros. R&D expenditure, exceeding three billion euros, corresponded to 17.0 per cent of net sales.
As a family-owned company, Boehringer Ingelheim plans in generations and focuses on long-term success. The company therefore aims at organic growth from its own resources with simultaneous openness to partnerships and strategic alliances in research. In everything it does, Boehringer Ingelheim naturally adopts responsibility towards mankind and the environment.
More information about Boehringer Ingelheim can be found on www.boehringer-ingelheim.com or in our annual report: http://annualreport.boehringer-ingelheim.com.
ImmunoPrecise to Present at the 2019 Bloom Burton & Co. Healthcare Investor Conference
ICTORIA, April 16, 2019 /CNW/ - IMMUNOPRECISE ANTIBODIES LTD. (the “Company” or “IPA”) (TSX VENTURE: IPA) (OTC PINK: IPATF) announced today that Jennifer Bath, President and CEO of ImmunoPrecise Antibodies, will present at the upcoming 2019 Bloom Burton & Co. Healthcare Investor Conference.
Date: May 1st, 2019
Time: 2:00 p.m. Eastern Time
Location: Metro Toronto Convention Centre, 255 Front St W, Toronto, Ontario
The Bloom Burton & Co. Healthcare Investor Conference brings together U.S., Canadian and international investors who are interested in the latest developments in the Canadian healthcare sector. Attendees will have an opportunity to obtain corporate updates from the premier Canadian publicly traded and private companies through presentations and private meetings.
Investors interested in arranging a meeting with Dr. Bath during this conference should contact ImmunoPrecise or Bloom Burton & Co.'s conference coordinator.
VICTORIA, April 25, 2019 /CNW/ - IMMUNOPRECISE ANTIBODIES LTD. (the « Company » or « IPA ») (TSX VENTURE: IPA) (OTC PINK: IPATF)
U-Protein Express, a wholly-owned ImmunoPrecise Antibodies subsidiary, in Utrech, Netherlands, announced that it has obtained an exclusive license from Stanford University to manufacture and sell a novel protein, Wnt surrogate Fc, a substitute for a protein known as Wnt.
Wnt proteins are involved in signalling cells to divide and develop, and the Wnt surrogate can be used as a growth factor in cell culture media for, among other purposes, the growing of organoids.
The exclusive nature of the awarded license ensures that the Company is the single, global, manufacturer and supplier to offer the Wnt surrogate Fc to the market. The surrogate can be used not only as a growth factor in cell culture media for the growing of organoids but also with other cell lines. With hundreds of research groups around the world culturing organoids, the market for the Wnt surrogate Fc is strong.
About ImmunoPrecise Antibodies Ltd.
ImmunoPrecise is a full-service, therapeutic antibody discovery company focused on the next generation of antibody discovery, to deliver the most therapeutically-relevant antibodies, in a shorter period of time, with the highest probability of succeeding to clinical trials.
ImmunoPrecise operates from state-of-the-art laboratory facilities located at the Vancouver Island Technology Park in Victoria, British Columbia, in collaboration with its wholly-owned subsidiary operations at U-Protein Express B.V., in the Life Science Incubator, Utrecht, and ModiQuest Research, Oss, both in the Netherlands. The Company operates globally to offer antibody services from target analysis to pre-clinical studies.
The services offered to clients include antibody discovery against a broad spectrum of antigens, including challenging targets. Amongst these services, the Company offers hybridoma production, B-cell services, and a variety of phage display platforms. The Company also provides a broad range of supporting services including immunologically-based assays, recombinant protein manufacturing, humanization, optimization, stable cell line development, and advanced solutions to challenges faced by clients in antibody-related research and development. The antibodies produced by ImmunoPrecise target a wide variety of therapeutic, diagnostic and research applications.
PHOENIX, April 25, 2019 (GLOBE NEWSWIRE) – Uptick Newswire Stock Day Podcast welcomed ImmunoPrecise Antibodies Ltd. (IPATF) (“the Company”), a full-service, therapeutic antibody discovery company focused on the next generation of antibody discovery, to deliver the most therapeutically-relevant antibodies, in a shorter period of time, with the highest probability of succeeding to clinical trials. President and CEO, Dr. Jennifer Bath, joined Stock Day host Everett Jolly.
Jolly began the interview by asking Dr. Bath to provide some background information on herself and the Company. Dr. Bath explained that she has been with the Company for about fifteen months since she was brought on for her extensive experience in the antibody discovery space. The Company first began out of British Columbia and since has made multiple acquisitions to establish a global presence. The Company has consistently experienced back-to-back years of revenue growth and is continuing on a steep growth trajectory.
Jolly then asked what the Company specializes in. Dr. Bath explained that the Company discovers complex, therapeutic antibody drugs for large pharmaceutical and biotech companies. “We bring the most innovative technologies all under one roof and design specifically toward human therapeutic drug discovery,” she explained. This increases the pharmaceutical companies’ chances of success. “We provide everything from the time the client has an idea to the time they have a final product,” she added. Dr. Bath also explained that the Company is able to complete these projects in a much faster time frame than their competitors.
Jolly followed by asking why companies choose to outsource these types of programs. Dr. Bath explained that it is very expensive and logistically challenging for the pharmaceutical companies to run these programs in-house. However, the Company is able to provide flexible and efficient technical solutions.
Jolly then noted the recently announced collaboration between the Company and the Massachusetts-based company, TetraGenetics. Dr. Bath explained that the Company was intrigued by TetraGenetics’ technology for producing complex membrane proteins and the idea of pairing it with their own platform. “This was really just an ideal partnership,” stated Dr. Bath. She also explained that the Company has agreements with numerous other pharma and biotech companies. Over the years these contracts have amounted to hundreds of pharmaceutical companies.
Dr. Bath then shared that during the process of these programs, the Company handles the discovery of the desired drug and the client takes on the drug prior to the phase one clinical trial. This removes the risk of clinical trials on the side of the Company.
To close the interview, Dr. Bath shared that 2019 is a very exciting year for the Company and she expects rapid growth to continue. “We’re very aggressively poised to arise a leader,” closed Dr. Bath.
To hear Dr Bath’s entire interview, follow the link to the podcast here: https://upticknewswire.com/featured-interview-ceo-dr-jennifer-bath-of-immunoprecise-antibodies-ltd-otcqb-ipatf/
Investors Hangout is a proud sponsor of “Stock Day,” and Uptick Newswire encourages listeners to visit the company’s message board at https://investorshangout.com/
About ImmunoPrecise Antibodies Ltd.
ImmunoPrecise is a full-service, therapeutic antibody discovery company focused on the next generation of antibody discovery, to deliver the most therapeutically-relevant antibodies, in a shorter period of time, with the highest probability of succeeding to clinical trials.
ImmunoPrecise operates from state-of-the-art laboratory facilities located at the Vancouver Island Technology Park in Victoria, British Columbia, in collaboration with its wholly-owned subsidiary operations at U-Protein Express B.V., in the Life Science Incubator, Utrecht, and ModiQuest Research, Oss, both in the Netherlands. The Company operates globally to offer antibody services from target analysis to pre-clinical studies.
The services offered to clients include antibody discovery against a broad spectrum of antigens, including challenging targets. Amongst these services, the Company offers hybridoma production, B-cell services, and a variety of phage display platforms. The Company also provides a broad range of supporting services including immunologically-based assays, recombinant protein manufacturing, humanization, optimization, stable cell line development, and advanced solutions to challenges faced by clients in antibody-related research and development. The antibodies produced by ImmunoPrecise target a wide variety of therapeutic, diagnostic and research applications.
Forward Looking Information
This news release contains statements that, to the extent they are not recitations of historical fact, may constitute “forward-looking statements” within the meaning of applicable Canadian securities laws. The Company uses words such as “may”, “would”, “could”, “will”, “likely”, “expect”, “believe”, “intend” and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by ImmunoPrecise in light of its experience and its perception of historical trends, current conditions and expected future developments. However, whether actual results and developments will conform to ImmunoPrecise’s expectations and predictions is subject to any number of risks, assumptions and uncertainties. Many factors could cause ImmunoPrecise’s actual results to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors include, among other things, actual revenues and earnings for IPA being lower than anticipated, and those risks and uncertainties described in ImmunoPrecise’s annual management discussion and analysis for the fiscal year ended April 30, 2018 which can be accessed at www.sedar.com. The “forward-looking statements” contained herein speak only as of the date of this press release and, unless required by applicable law, ImmunoPrecise undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Uptick Newswire and the “Stock Day” Podcast
Founded in 2013, Uptick Newswire is the fastest growing media outlet for Nano-Cap and Micro-Cap companies. It educates investors while simultaneously working with penny stock and OTC companies, providing transparency and clarification of under-valued, under-sold Micro-Cap stocks of the market. Uptick provides companies with customized solutions to their news distribution in both national and international media outlets. Uptick is the sole producer of its “Stock Day” Podcast, which is the number one radio show of its kind in America. The Uptick Network “Stock Day” Podcast is an extension of Uptick Newswire, which recently launched its Video Interview Studio located in Phoenix, Arizona.
SOURCE:
Uptick Newswire
602-441-3474
https://upticknewswire.com/
Bravo… mais il serait bien de les voir annoncer des contrats concret.
Toujours rien de bien concret, ce qui explique le 52-week low cette semaine sans doute :
ImmunoPrecise’s Wholly Owned Talem Therapeutics Announces the Creation of its Scientific Committee
Quand même décevant. Oui c’est long on-board des clients et faire des audits et tout le tralala. Oui 1.3M$ de one-time costs. Mais bon, 12M$ en expenses pour faire 10M$, j’ose espérer que la croissance va revenir et que les coûts vont baisser pour de vrai.
Avec une debenture de 2.7M$ dûe en octobre aussi. Ils auront sûrement pas le choix de la prolonger…à suivre pour un autre financement. On aura une meilleur idée après le Q1 dans 1 mois.
Avec les pertes de fin d’année, si le Q1 est décevant aussi, il aura possiblement de bonnes opportunités d’achats pour ceux qui croient au potentiel long terme de l’entreprise. Q2-Q3 seront à surveiller de près au niveau de la croissance des revenus et profitabilité.
ImmunoPrecise Launches Abthena™ Bispecific Platform And Artemis™ Intelligence Metadata (AIM)
Canada NewsWire
VICTORIA, Sept. 23, 2019
VICTORIA, Sept. 23, 2019 /CNW/ - IMMUNOPRECISE ANTIBODIES LTD. (the “Company” or “IPA”) (TSX VENTURE: IPA) (OTCQB: IPATF), an industry leader in the discovery of novel, therapeutic antibodies, announces its AbthenaTM bispecific antibody platform and the complementary ArtemisTM Intelligence Metadata (AIM)TM suite.
Bispecific antibodies are a class of engineered antibodies and antibody-like proteins that, in contrast to traditional, monospecific antibodies, do not occur naturally. AbthenaTM bispecifics have the ability to bind two different molecules with a single antibody, increasing the therapeutic effectiveness of targeting infectious diseases, payload delivery and functional activity toward challenging targets. Alternatively, AbthenaTM products can be used to ‘dual target’, allowing detection or binding of a target cell type with much higher specificity than traditional, monospecific antibodies.
At ImmunoPrecise, we have designed an advanced discovery platform for wild-type and fully human bispecific antibody components, which allows for the generation of heterodimer, optimized, IgG backbones with validated binding attributes. AbthenaTM produces yields comparable to its monospecific equivalents, with a high degree of dimer formation, a platform which blends seamlessly with Artemis Intelligence Metadata (AIM)TM capabilities to enable rapid turnaround on additional algorithmic outputs in therapeutic optimization, stability, affinity and manufacturability.
Semble être une nouvelle significative qui confirme la technologie de IPA/Talem. Reste encore à voir les revenus qui émergeront de ce type d’entente et quand ils se matérialiseront. ImmunoPrecise’s Talem Therapeutics Enters into an LOI with AgonOx Pharma in the Advancement of Novel, Immuno-Oncology Therapeutics
Comme on dit dans le secteur BioBuck$
VICTORIA, Sept. 24, 2019 /CNW/ - IMMUNOPRECISE ANTIBODIES LTD. (the “Company” or “IPA”) (TSX VENTURE: IPA) (OTCQB: IPATF), an industry leader in the discovery of novel, therapeutic antibodies, announces that Talem Therapeutics, its wholly-owned subsidiary, has entered into an LOI to form a Joint Venture as it partners in the continued development of antibody therapeutics to target T cell mediated anti-tumor activity, with AgonOx, a clinical-stage biopharma company. AgonOx specializes in identifying and developing immuno-oncology therapeutics.
AgonOx’s approach to target discovery begins with genomic and proteomic analyses of tumor-infiltrating lymphocytes isolated from human tumor biopsies. Candidates are further validated in the laboratory by utilizing an array of in vitro and in vivo systems. The partnership with Talem is addressing targets involved in T cell mediated anti-cancer activity, with therapeutics that, in preliminary, in vivo-validated animal models of established tumors, have demonstrated significant tumor reduction.
This partnership will advance two of AgonOx’s top 10 candidates to emerge from its translational science platform focused on modulation of the tumor microenvironment and, if commercialized, may result in approximately $720 million USD comprised of licensing fees, as well as development and commercial milestones in addition to royalties on worldwide sales.
Andrew Weinberg, President and CSO of AgonOx, stated “Collaborating with Talem strengthens our efforts to develop immuno-oncology drug candidates by leveraging IPA’s ability to address challenging targets, with the deep mining of the immune repertoire in a species agnostic manner. This LOI supports AgonOx’s mission of discovering and delivering science that can change the standard of care for patients with cancer. ImmunoPrecise has first-rate scientists that we hope to work with for years to come.”
Talem will leverage the internal development capabilities of ImmunoPrecise, including high throughput, rapid identification of candidates through single cell interrogation, as well as accessing synthetic and natural immune phage libraries, and its bispecific platform, AbthenaTM. All of these technologies integrate seamlessly with IPA’s integrated ArtemisTM Intelligence Metadata (AIM)TM capabilities to enable rapid turnaround on additional outputs in therapeutic optimization, stability, affinity, and manufacturability.
Both companies will aid in the functional analyses of the candidates, while AgonOx also pulls from its experience in pre-clinical and clinical development, built, in part, on access to physicians and relevant samples through their alignment with the Earl A. Chiles Research Institute at the Providence Cancer Institute.
“We look forward to advancing the development of these candidates toward an Investigational New Drug filing. AgonOx has extensive expertise in validating the expression and function of biologically relevant immuno-oncology targets” said Jennifer Bath, CEO of ImmunoPrecise. “We see significant advantages from Talem and AgonOx leadership sharing knowledge across antibody discovery, development, pre-clinical and clinical trials. This partnership will enhance the companies’ pipelines of novel, monoclonal antibodies that could transform the standard of care for patients with advanced cancers.”
About AgonOx
AgonOx, Inc. is a spin-off company from the Providence Cancer Institute located in Portland, Oregon, developing immune system modulators for use in cancer therapy. T-cell modulation has improved outcomes in several indications and AgonOx works to expand this benefit with novel agents and combination therapies. The founders of AgonOx were the first to identify and develop anti-OX40 as a cancer therapy and, along with the Providence Cancer Institute, brought the first OX40 agent into clinical trials. Utilizing bioinformatics and in vitro and in vivo assay systems, AgonOx has identified novel immune-related pathways and develops new targets to generate future therapies for cancer patients.
Ouch, sont où les biobucks ??? ¯_(ツ)_/¯
Je ne sais pas trop quoi penser de cette nouvelle. Est-ce que ça laisse sous-entendre que la compagnie est sous-évaluée et pourrait être la cible d’une offre d’achat non-sollicitée? Peut-être juste une formalité aussi ou une forme de marketing plus subtile 
ImmunoPrecise Adopts Shareholder Rights Plan
VICTORIA, Oct. 18, 2019 /CNW/ - IMMUNOPRECISE ANTIBODIES LTD. (the “Company” or “IPA”)
(TSX VENTURE: IPA) (OTCQB: IPATF), an industry leader in the discovery of novel, therapeutic
antibodies, announces that its Board of Directors has adopted a shareholder rights plan (the
“Shareholder Rights Plan”) effective October 17, 2019. The Shareholder Rights Plan has been
accepted for filing by the TSX Venture Exchange (“TSXV”), subject to certain conditions, including
ratification by the Company’s shareholders at its upcoming annual general meeting of shareholders
scheduled to be held on November 22, 2019 (the “AGM”). The Shareholder Rights Plan is similar to
rights plans adopted by other Canadian companies and ratified by their shareholders.
The purpose of the Rights Plan is to ensure that all shareholders are treated fairly in connection with
any offer to acquire the outstanding common shares of the Company and that the board of directors
of the Company has the opportunity to identify, solicit, develop and negotiate value-enhancing
alternatives to any unsolicited take-over bid. The Shareholder Rights Plan has not been adopted in
response to, or in anticipation of, any known or anticipated take-over bid. If ratified by shareholders
of the Company at the AGM, the Shareholder Rights Plan will be in effect for a term of three years.
A summary of the principal terms and conditions of the Shareholder Rights Plan will be set out in the
Company’s Management Information Circular to be mailed to shareholders prior to the AGM. A copy
of the complete Shareholder Rights Plan will be filed on SEDAR.
Talem Therapeutics accesses the OmniAb® platform from Ligand Pharmaceuticals
VICTORIA, Nov. 5, 2019 /CNW/ - IMMUNOPRECISE ANTIBODIES LTD. (the “Company” or “IPA”) (TSX VENTURE: IPA) (OTCQB: IPATF), an industry leader in the discovery of novel, therapeutic antibodies, announces that Talem Therapeutics, a wholly-owned subsidiary, has entered into a worldwide OmniAb® platform license agreement with Ligand Pharmaceuticals (NASDAQ:LGND).
This license enables Talem to access Ligand’s unique OmniAb platform for use with Talem’s leading antibody discovery capabilities. OmniAb is a genetically engineered platform for the generation of diverse mono- and bispecific, fully human antibodies, and the industry’s only platform comprised of the three species rats, mice, and chickens.
Under the license, Talem has the right to develop and partner fully human antibodies in OmniRat®, OmniFlic®, OmniMouse®, OmniChicken®, and OmniClic™. Talem will leverage OmniAb with ImmunoPrecise’s leading, high-throughput technologies, allowing programs to leapfrog risky and time-consuming early discovery and accelerate generation of de-risked lead candidates for partners worldwide.
Ligand is eligible to receive clinical milestone payments as well as mid-single-digit royalties.
Talem will leverage the multiple technology tracks for antibody discovery within ImmunoPrecise, including high throughput, rapid identification of candidates through high performance, single B cell interrogation; electrofusion-based, single step cloning hybridoma generation; and accessing ImmunoPrecise’s DeepDisplay® custom, immune phage libraries. All of these technologies cohere seamlessly with IPA’s integrated Artemis™ Intelligence Metadata (AIM)™ capabilities to enable rapid turnaround on additional outputs in therapeutic optimization, stability, affinity, and manufacturability.
“ImmunoPrecise has years of experience successfully employing OmniAb animals in antibody discovery. Combining ImmunoPrecise’s end-to-end antibody discovery technologies with Ligand’s leading OmniAb platform is a natural progression, supporting both companies’ overall mission of getting the best therapeutic antibodies to the clinic faster, in this case, all under one roof,” said Jennifer Bath, CEO of ImmunoPrecise. “Enabling Talem’s internal discovery for the development of therapeutic antibodies in OmniAb animals provides Talem, and its future partners, a distinctively streamlined path to the clinic.”
ImmunoPrecise also announces that, effective November 30, 2019, Jason Orloske will no longer be Vice President of Operations. We would like to thank Jason for his support and contributions while we wish him the best for his next endeavors.
ImmunoPrecise Announces Record Quarterly Revenue and Significantly Expands Gross Margins
VICTORIA, Dec. 17, 2019 /CNW/ - IMMUNOPRECISE ANTIBODIES LTD. (the “Company” or “IPA”) (TSX VENTURE: IPA) (OTCQB: IPATF) announces today that it has released its financial results for the second quarter ended October 31, 2019. The financial statements and related management’s discussion and analysis (“MD&A”) can be viewed on SEDAR at www.sedar.com.
Financial Highlights:
Revenue. During the three months ended October 31, 2019, the company generated revenues of $3,162,365, compared to revenues of $2,716,791 in the 2018 fiscal period. This represents a 16% rise in revenue for the three-month period. The increasing revenue trend is due to growth in both the volume of contracts as well as an increase in the financial value of individual client programs resulting in a larger average value per program. Revenue outlook is positive for third quarter.
Gross Margin . During the three months ended October 31, 2019, the Company achieved a gross profit of $2,490,015 compared to $1,401,725 in the 2018 fiscal period. Gross profit increased by 78% over the same period last year. In percentage terms, the Company’s gross profit increased to 79% from 52% in 2018. The higher gross profit in 2019 was mostly attributable to the Company investing heavily in research and development initiatives, broadening the breadth and value of its intellectual property in both therapeutic oncology assets as well as advanced technologies in the discovery and analysis of human antibody sequences. Gross profit was positivity affected by an increase in the average value per program.
Net Loss. During the three months ended October 31, 2019, the Company recorded a net loss of $1,363,545 compared to net loss of $1,485,732 for the three months ended October 31, 2018. The net loss decreased in 2019 due to $1,088,290 higher gross profit and lower advertising and consulting expense, offset by higher non-cash expenses including amortization of acquired companies’ intangible assets, depreciation of leased assets as a result of implementing IFRS 16, Leases, and higher office expenses.
Non-IFRS Measures.* Non-IFRS Adjusted EBITDA was ($63,418) in the second quarter of 2019 compared to ($744,054) in the second quarter of 2018. The reduction in loss is due primarily to non-cash expenses reconciling IFRS Net Loss to Adjusted EBITDA. The reduction in EBITDA Loss for the quarter is due to higher gross profit ($1,088,290) offset by higher Adjusted Operating Expenses ($407,654) primarily due to the Company’s investment in research and development and information technology.
Reflecting on the calendar year of 2019, Dr. Jennifer Bath, CEO and President, added, “During 2019 we won an increased number of large pharma clients requiring more comprehensive therapeutic discovery and development outsourcing. These wins have been a core priority for ImmunoPrecise as we grow, which required substantive, strategic investments in our global infrastructure to attract, win and retain large pharma. Onboarding of these programs differs from our pipeline to date in terms of timing and workflow management. While it is a significant positive that we are winning larger programs, we have been cognizant that short-term revenue recognition can be affected by the timing of project activity. We have worked diligently to ensure that these are coupled with renewing, smaller projects to attain business continuity, thoughtful space and equipment utilization and therefore greater profitability going into 2020.”
About ImmunoPrecise Antibodies Ltd.
ImmunoPrecise is an international, full-service, therapeutic antibody discovery company offering species agnostic advancements such as the B cell Select™ progressive, single-cell interrogation technology and the DeepDisplay™ custom phage libraries, as well as the Abthena™ bispecific program. IPA is focused on the next generation of antibody discovery, to deliver the most therapeutically relevant antibodies, in a shorter timeframe, with the highest probability of succeeding to clinical trials. ImmunoPrecise’s discovery and development are conducted in Utrecht and Oss, the Netherlands (U-Protein Express and IPA Europe, respectively), and in Victoria, British Columbia (IPA Canada). The Company operates globally to offer a continuum of superior antibody services, transforming the face of therapeutic discovery, by decreasing turnaround time and risk, and promoting clinical success.
Forward Looking Information
