Walker Rossetti
10-30

$Moderna, Inc.(MRNA)$  $Eli Lilly(LLY)$ $SELLAS Life Sciences Group Inc.(SLS)$ $AbCellera Biologics(ABCL)$  Over the past ~3 weeks, from late September to mid-October, AbCellera has seen a wave of senior-level hiring. The key is in the specific roles: Head of Quality Assurance, Director/Senior Director of QC, Director of QA Validation, Head of Process Development (CMC), and Head of CMC Portfolio Management.

The sequence stands out. Core QC team in June, then operations and translational science in July, VP of Medical Affairs in September, and now senior leadership in Quality and CMC in October. Each step moves further up the value chain.

My take: a company doesn't build a full senior leadership layer for quality and manufacturing unless it anticipates having a product to manufacture and sell. After the positive Phase 2 results this summer, the focus has shifted from hope to actual execution. The direction looks clear.

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