Business
OmniAb Reports First Quarter 2025 Financial Results and Business Highlights
EMERYVILLE, Calif., May 08, 2025--OmniAb, Inc. (NASDAQ: OABI) today reported financial results for the three months ended March 31, 2025, and provided operating and partner program updates.
About this update from Omniab, Inc.
[{"type":"text","content":"Conference Call with Slides Begins at 4:30 p.m. Eastern Time Today","length":66,"tagName":"p","attribs":{}},{"type":"text","content":"EMERYVILLE, Calif., May 08, 2025--(BUSINESS WIRE)--OmniAb, Inc. (NASDAQ: OABI) today reported financial results for the three months ended March 31, 2025, and provided operating and partner program updates.","length":206,"tagName":"p"},{"type":"text","content":""We have started the year with robust deal flow, including both platform and asset-based deals. Our business remains strong as our diversified pipeline of partner programs is progressing with recent and expected new clinical entrants and data readouts," said Matt Foehr, Chief Executive Officer of OmniAb. "Today we announced the xPloration® Partner Access Program for OmniAb partners, enhancing the scalability of our technology platforms and creating new business opportunities that we believe will be accretive to both earnings and cash flow in short- and long-term. This initiative furthers our mission to push the frontiers of discovery technologies along with our focus on creating value for our partners and our stakeholders. As we look ahead, our 2025 outlook remains on track with our commitment to running an efficient and leverageable business."","length":876,"tagName":"p"},{"type":"text","content":"First Quarter 2025 Financial Results","length":36,"tagName":"p"},{"type":"text","content":"Revenue for the first quarter of 2025 was $4.2 million, compared with $3.8 million for the same period in 2024, with the increase primarily due to the recognition of a $1.0 million Phase 1 milestone payment and higher license fees, partially offset by lower service revenue.","length":274,"tagName":"p"},{"type":"text","content":"Research and development expense was $12.6 million for the first quarter of 2025, compared with $14.6 million for the same period in 2024, with the decrease primarily due to lower share-based compensation expense and lower external expenses associated with our small-molecule ion channel programs and technology development. General and administrative expense was $7.9 million for the first quarter of 2025, compared with $8.3 million for the same period in 2024, with the decrease primarily due to lower legal fees and share-based compensation expense.","length":553,"tagName":"p"},{"type":"text","content":"Net loss for...