Business
OmniAb Reports Fourth Quarter and Full Year 2024 Financial Results and Business Highlights
EMERYVILLE, Calif., March 18, 2025--OmniAb, Inc. (NASDAQ: OABI) today reported financial results for the three and 12 months ended December 31, 2024, 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., March 18, 2025--(BUSINESS WIRE)--OmniAb, Inc. (NASDAQ: OABI) today reported financial results for the three and 12 months ended December 31, 2024, and provided operating and partner program updates.","length":218,"tagName":"p"},{"type":"text","content":""2024 was a remarkable year featuring double-digit percentage growth in the number of both active partners and programs. Clinical-stage programs advanced well, and we launched new technologies and enhancements that strengthened our platform and expanded our reach," said Matt Foehr, Chief Executive Officer of OmniAb. "We exceeded our internal goals for key metrics and continued to build momentum while optimizing the scalability of our business. We believe our commitment to innovation is a significant competitive advantage and creates exciting opportunities for future growth. We remain steadfast in our strategic direction and are excited about the prospects that lie ahead."","length":700,"tagName":"p"},{"type":"text","content":"Fourth Quarter 2024 Financial Results","length":37,"tagName":"p"},{"type":"text","content":"Revenue for the fourth quarter of 2024 was $10.8 million, compared with $4.8 million for the same period in 2023, with the increase primarily due to higher license and milestone revenue partially offset by lower service and royalty revenue.","length":240,"tagName":"p"},{"type":"text","content":"Research and development expense was $13.3 million for the fourth quarter of 2024, compared with $14.8 million for the same period in 2023, with the decrease primarily due to lower stock-based compensation expense and outside expenses associated with third-party services. General and administrative expense was $7.4 million for the fourth quarter of 2024, compared with $7.9 million for the same period in 2023, with the decrease primarily due to lower stock-based compensation expense and lower external marketing and legal expenses.","length":535,"tagName":"p"},{"type":"text","content":"Net loss for the fourth quarter of 2024 was $13.1 million, or $0.12 per share, compared with a net loss of $14.1 million, or $0.14 per share, for the same period in 2023.","length":170,"tagName":"p"},{"type":"text","content":"F...