Omniab, Inc. · NASDAQ:OABI
Omniab — Q4 2023 Earnings Presentation
24 slides from Omniab's earnings presentation, Mar 20, 2024
Slide 1: Q4 and Full Year 2023 Financial Results & Business Update
1 Q4 and Full Year 2023 Financial Results & Business Update Nasdaq: OABI March 20, 2024
Slide 2: Disclaimer
2 Disclaimer We caution you that this presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, expected cash runway and cash use,
Slide 3: Introduction
Omni > Introduction : Matt Foehr
Slide 4: 2023: A Highly Productive Year for the OmniAb Business
4 2023: A Highly Productive Year for the OmniAb Business POSITIONING THE BUSINESS FOR FUTURE GROWTH Significant growth of our partnership base and pipeline, and advancement of key programs by partners Expansion of our operations and globalization of our business development function Successful new t
Slide 5: Performance Indicators
5 Performance Indicators Number of Active • Annual growth in key performance Number of Active Number of Active Clinical Programs and Partners Programs Approved Products indicators continues 80 350 35 ‒ Active Partners:(1) 12% YoY Growth, 2023 vs. 2022 70 300 30 ‒ Active Programs:(2) 12% YoY 60 250 2
Slide 6: Our Partnership Base is Growing
6 Our Partnership Base is Growing Number of Active Partners as of 12/31/23 • Number of active partners is growing, net of attrition 80 Academic Commercial • 2023 was highly productive in new partner additions, 60 driven by multiple factors, including: ‒ Platform visibility and clinical/commercial va
Slide 7: New Discovery and Academic Partners Added in 2023
7 New Discovery and Academic Partners Added in 2023 • Despite macro environment in 2023, we entered into four new deals with Start-up partners Big Pharma 20% Start-up • Additions of two new, global Big Pharma partners who 40% are highly active • Biotech partners have been especially efficient in sta
Slide 8: Growth and Advancement of Active Programs
8 Growth and Advancement of Active Programs We started 2023 with 291 Active Programs and grew to 325 as of 12/31/23, net of attrition Number of Active Programs Stage of 325 Active Programs as of 12/31/2023 as of 12/31/2023 During 2023: 300 Phase 2: 2 Phase 3: 1 Active Discovery programs grew from Ph
Slide 9: Programs are Advancing into the Clinic
9 Programs are Advancing into the Clinic Number of Active Clinical Programs and • 6 programs entered the clinic in 2023, higher than our original Approved Products expectations: 35 1. SGN-BB228 (Seagen): Anti-CD228 x 4-1BB Anticalin(1) 30 2. IMVT-1402 (Immunovant): Next-generation FcRn antagonist 3.
Slide 10: The OmniAb Technology Offering Continues to Expand
10 The OmniAb Technology Offering Continues to Expand TECHNOLOGY OFFERING ADDRESSES THE MOST CRITICAL CHALLENGES OF ANTIBODY DISCOVERY Create Screen Deliver Create Diverse Repertoires of Screen Millions of Cells to Find Further Characterize, Select and High-Quality Antibodies Potential Therapeutic C
Slide 11: What's driving interest in OmnidAb?
11 OmnidAb is the first and only transgenic chicken producing single domain antibodies (sdAb), a novel class of antibody found naturally in camelids that is being increasingly exploited for a variety of therapeutic applications. OmnidAb is an in vivo platform for sdAbs based upon a human VH scaffold
Slide 12: What is a Single-Domain Antibody (sdAb)?
12 What is a Single-Domain Antibody (sdAb)? ALSO KNOWN AS VHH ANTIBODIES OR NANOBODIES® Conventional antibody Heavy chain-only antibody (IgG) (HcAb) Comprised of 2 heavy chains and 2 light chains sdAb Found naturally in camelids, comprised of 2 heavy chains, no light chain VH domain of HcAb can be e
Slide 13: Opportunities for sdAbs in Medicine
13 Opportunities for sdAbs in Medicine PHYSICAL PROPERTIES OF CAN BE LEVERAGED FOR IMPORTANT APPLICATIONS Alternate routes of administration Injectable, inhalable & oral Penetration + fast/tunable clearance Blood-brain barrier, tissue, tumor Imaging/diagnostics/theranostics Small size compatible wit
Slide 14: 2024: Looking Ahead To Continued Progress
14 2024: Looking Ahead To Continued Progress PIPELINE GROWTH AND ADVANCEMENT, NEW DEALS AND TECHNOLOGY DEPLOYMENT Late-stage advancement and data events expected for key clinical programs at Genmab, Immunovant and others(1) Leverage fully-staffed business development team for deal expansion globally
Slide 15: Financial Updates
15 Financial Updates Kurt Gustafson
Slide 16: Q4 2023 vs. Q4 2022 Financial Results
16 Q4 2023 vs. Q4 2022 Financial Results (Millions, except per share data) Q4 2023 Q4 2022 Variance License and milestone revenue $ 1.7 $ 31.1 ($ 29.4) Service revenue 2.8 3.9 (1.1) Royalty revenue 0.4 0.4 (0.0) Total revenues 4.8 35.3 (30.5) Research & development 14.8 12.9 1.8 General & administra
Slide 17: FY 2023 vs. FY 2022 Financial Results
17 FY 2023 vs. FY 2022 Financial Results (Millions, except per share data) FY 2023 FY 2022 Variance License and milestone revenue $ 20.7 $ 38.9 ($ 18.2) Service revenue 12.2 18.8 (6.6) Royalty revenue 1.3 1.4 (0.1) Total revenues 34.2 59.1 (24.9) Research & development 56.5 48.4 8.2 General & admini
Slide 18: Quarterly Financial Results
18 Quarterly Financial Results (Millions, except per share data) Q1 Q2 Q3 Q4 FY 23 License and milestone revenue $ 12.6 $ 4.3 $ 2.0 $ 1.7 $ 20.7 Service revenue 4.0 2.5 3.0 2.8 12.2 Royalty revenue 0.3 0.2 0.5 0.4 1.3 Total revenues 16.9 6.9 5.5 4.8 34.2 The Company expects Research & development 13
Slide 19: Balance Sheet
19 Balance Sheet (Millions) December 31, December 31, 2023 2022 ASSETS Current assets: Cash & investments $ 87.0 $ 88.3 Accounts receivable, net 3.8 30.3 Other current assets 4.1 6.4 Goodwill & intangible assets 239.4 251.2 PPE & leases 38.2 41.5 Other assets 2.7 3.5 Total assets $ 375.2 $ 421.2 LIA
Slide 20: Cash Outlook
20 Cash Outlook Millions 2023 Quarterly Cash Use Analysis • We expect cash use in 2024 to be relatively $30 similar to the cash use in 2023, excluding the $35M TECVAYLI® milestone that was received $25 in Q1 2023 $20 $15 2023 Cash Use ($1.3) 2023 Cash Use (ex TECVAYLI) ($36.3) • Given the expected p
Slide 21: Our Key Areas of Focus
21 Our Key Areas of Focus WE BELIEVE WE ARE WELL-POSITIONED FOR FUTURE GROWTH WHILE WE MAKE AN ENDURING AND SIGNIFICANT IMPACT ON THE INDUSTRY AND GLOBAL HUMAN HEALTH We leverage a highly scalable business where investments in technologies and innovation are informed by discovery relationships with
Slide 22: Q&A
Omni Q&A
Slide 23: Omni >
Omni >
Slide 24: Approved, Under Regulatory Review and Clinical-Stage Partner Pipeline
Approved, Under Regulatory Review and Clinical-Stage Partner Pipeline AS OF 12/31/2023 24 Partner Program Source Animal Therapy Area Target Phase 1 Phase 2 Phase 3 Registration Approved Zimberelimab OmniRat Oncology PD-1 Sugemalimab OmniRat Oncology PD-L1 Teclistamab OmniRat Oncology BCMA x CD3 Bato