AbCellera down 7% after FDA announces bebtelovimab not authorized in U.S.

Shares of AbCellera (ABCL) are down 87c, or 7%, to $12.49 after the FDA announced that bebtelovimab is not currently authorized for emergency use in the U.S. because it is not expected to neutralize Omicron subvariants BQ.1 and BQ.1.1. Eli Lilly (LLY) and its authorized distributors have paused commercial distribution of bebtelovimab until further notice by the Agency, the FDA stated.