AbCellera jumps 32% as menopause drug cuts hot flashes in trial

AbCellera shares surged 32% after its experimental menopause drug ABCL635 cut hot flash frequency by 83% in a Phase 2 trial, meeting primary efficacy endpoints.

"The four-week data for the Phase 2 study of ABCL635 demonstrate a new efficacy benchmark for the reduction of hot flashes both in frequency and severity, as well as improvements in sleep," said Dr. JoAnn V. Pinkerton, Women's Midlife Professor of Obstetrics and Gynecology at the University of Virginia School of Medicine.

The randomized, double-blind, placebo-controlled study (NCT07118891) enrolled 92 postmenopausal women experiencing a mean of approximately 10 moderate or severe hot flashes per day. Patients received a single subcutaneous 600 mg dose of ABCL635 or placebo. At week 4, the treatment group reported 8.8 fewer moderate-to-severe events per day from baseline versus 3.5 for placebo, a placebo-adjusted difference of 5.3 (p<0.001). Severity scores fell 1.4 points versus 0.3 for placebo (p<0.001). The drug also improved sleep scores and patient global impression of change.

"By successfully targeting the NK3 receptor with an antibody, we have demonstrated potential best-in-class vasomotor symptom relief over four weeks with a single subcutaneous dose," said Sarah Noonberg, M.D., Ph.D., Chief Medical Officer of AbCellera.

The results position ABCL635 as a potential non-hormonal, long-acting alternative to daily oral therapies such as Astellas Pharma's Veozah, which carries a boxed warning for rare but serious liver injury. Approximately 12 million women in the US experience moderate-to-severe vasomotor symptoms, with more than six million seeking treatment. AbCellera plans to advance the program to Phase 3.

ABCL635 targets the neurokinin 3 receptor (NK3R), a G protein-coupled receptor expressed on KNDy neurons in the hypothalamus that regulates body temperature. It is the first program from AbCellera's GPCR and ion channel platform to reach the clinic, entering development in July 2025.

The drug was well-tolerated over the four-week treatment period, with no serious adverse events, severe adverse events, or discontinuations. The most common adverse events were headache, fatigue, and injection site reaction.

The stock's 32% jump adds to a rally that has more than doubled the shares this year. The company reported $565 million in cash and marketable securities as of June 30, with total liquidity exceeding $675 million. Recent partnerships with Jazz Pharmaceuticals and Vertex Pharmaceuticals brought $84 million and $28 million in upfront payments, respectively.

Wall Street remains bullish ahead of the data. FactSet consensus shows nine buy ratings with a target price of $10.75, versus Friday's close of $6.93.

The Phase 2 results confirm the NK3R antibody approach in a market where current non-hormonal options require daily dosing. If confirmed in Phase 3, ABCL635 could offer a once-monthly subcutaneous injection, a meaningful convenience advantage. Investors will watch for the Phase 3 trial design and timeline in coming quarters.

This article is for informational purposes only and does not constitute investment advice.