The following is a summary of the ImmunoPrecise Antibodies Ltd. (IPA) Q1 2025 Earnings Call Transcript:

Financial Performance:

• Reported revenue of $5.3 million for Q1 FY 2025, a 7.5% decrease year-over-year but a 12% increase over the first quarter of fiscal 2023.

• Experienced above-market growth of 16% and 19% at antibody discovery labs in Victoria, Canada, and Oss, the Netherlands, respectively.

• Net loss of $4 million for Q1 FY '25 or $0.15 per share, with increased spend on the development and commercialization of LENSai.

• Ended the quarter with a cash balance of $4 million.

Business Progress:

• Ongoing expansion and significant traction in VHH antibody programs.

• Launch of new B Cell select programs contributing to revenue growth.

• Strong initial outcomes from leveraging proprietary technology LENSai, enhancing antibody discovery.

• BioStrand's development of highly specific antibodies through AI-driven simulations, targeting challenging oncology areas.

Opportunities:

• Expansion of LENSai's user base and optimization of therapeutic molecules through AI, offering potential high-value licensing opportunities with royalties.

• Strategic licensing and partnerships to monetize intellectual property and participate in the long-term success of AI-optimized candidates.

Risks:

• Increasing challenges in antibody drug development with complex targets and diseases.

• Financial challenges reflected in a net loss, driven by increased R&D spend and operational expansions.

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