OmniAb Director Cochran Buys 30K Shares at $1.52 on May 15, 2025.

OmniAb, Inc. (OABI) has announced that Director Jennifer R. Cochran has acquired 30,000 shares at a price of $1.52 per share on May 15, 2023.

OmniAb Inc. (OABI), a biopharmaceutical company focused on discovery research technology, has reported its financial results for the first quarter of 2025. The company's Chief Executive Officer, Matt Foehr, highlighted the strong deal flow and progress in partner programs, while providing an overview of the company's financial performance.

Financial Highlights

- Revenue: OmniAb reported $4.2 million in revenue for the first quarter of 2025, an increase of 13% compared to the same period in 2024. This growth was driven by the recognition of a $1.0 million Phase 1 milestone payment and higher license fees, partially offset by lower service revenue.
- Research and Development Expense: R&D expenses decreased to $12.6 million in Q1 2025, down from $14.6 million in Q1 2024. The reduction was primarily due to lower share-based compensation expense and lower external expenses associated with small-molecule ion channel programs.
- General and Administrative Expense: General and administrative expenses declined to $7.9 million in Q1 2025, down from $8.3 million in Q1 2024. This decrease was attributed to lower legal fees and share-based compensation expense.
- Net Loss: OmniAb reported a net loss of $18.2 million for Q1 2025, compared to a net loss of $19.0 million in Q1 2024. The net loss per share was $0.17, down from $0.19 per share in the previous year.

Business Highlights

- New Partnerships: OmniAb entered into three new platform license agreements during the first quarter, including collaborations with the Wyss Institute at Harvard University, Takis Biotech S.r.l., and Orion Corporation.
- Research Collaboration: The company signed a research collaboration and license agreement with Orion Corporation to discover and generate an antibody-based compound for a specific ion-channel target. This agreement includes an upfront payment of $250,000 and potential milestone payments totaling over $55 million.
- Asset-Based Sale: OmniAb completed an asset-based sale with Angelini Pharma for a small molecule Kv7.2 program, receiving an upfront payment of $3 million and potential milestone payments of over $170 million.
- xPloration Partner Access Program: The company launched the xPloration Partner Access Program, offering a high-throughput single B-cell screening instrument that leverages machine learning and artificial intelligence for B-cell screening.

Outlook

OmniAb affirmed its 2025 revenue guidance of $20 million to $25 million and revised its operating expense guidance to $85 million to $90 million. The company expects 2025 cash use to be lower than 2024, with an expected full-year effective tax rate of approximately 0%.

References

[1] https://www.businesswire.com/news/home/20250508302653/en/OmniAb-Reports-First-Quarter-2025-Financial-Results-and-Business-Highlights