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In the News September 9th , 2021 ImmunoPrecise Reports Financial Results and Recent Business Highlights for First Quarter Fiscal Year 2022 VICTORIA , BRITISH COLUMBIA September 9 , 2021 / - IMMUNOPRECISE ANTIBODIES LTD . ( the " Company " or " IPA " ) ( NASDAQ : IPA ) ( TSX VENTURE : IPA ) , a leader in full - service therapeutic antibody discovery and development , today announced financial results for first quarter fiscal year 2022 , which ended July 31 , 2021 . First Quarter Fiscal Year 2022 Financial Summary * • Revenues of $ 4.6 million , up 22 % • Research and development costs increased to $ 1.1 million from $ 309,213 in 2021 • The Company recorded a net loss of $ 3.2 million in the quarter • Adjusted EBITDA ** loss of $ 1.3M • As of July 31 , 2021 , the Company held cash of $ 40.7M * Expressed in Canadian dollars , unless otherwise indicated . ** For additional information on Adjusted Dr. Jennifer Bath , CEO of ImmunoPrecise , stated , “ This quarter marks an exciting leap into IPA's major strategic initiatives to support our vision shared by the board of directors and management alike : Formidable and unabashed goals as we invest to recognize new heights of potential in our contract research , our internally - owned therapeutic assets , and new research and manufacturing