Slide 1: Q4 and Full Year 2024 Financial Results & Business Update
1 Q4 and Full Year 2024 Financial Results & Business Update Nasdaq: OABI March 18, 2025
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, including our financial guidance fo
Slide 3: Introduction
Omni Introduction : Matt Foehr
Slide 4: Highlights from 2024
4 Highlights from 2024 MOMENTUM IN KEY METRICS POSITION OUR BUSINESS FOR SUCCESS Double-digit percentage growth in the number of active partners and active programs, with clinical-stage programs advancing Launched new technologies and enhancements that are positively impacting our partnerships and d
Slide 5: Value Creation Cycle
5 Value Creation Cycle SOURCES OF FUTURE CASH FLOWS AND VALUE-GENERATION WITHIN A LEVERAGEABLE BUSINESS OUR NOVEL PLATFORM CLINICAL-STAGE TECHNOLOGIES PROGRAMS Built to address key industry needs Key programs coming into focus, showing potential for significant differentiation CONTRACTED POTENTIAL A
Slide 6: Active Partners
6 Active Partners 18% GROWTH YEAR-OVER-YEAR Number of Active Partners 100 Partner Type • We continue to grow and diversify our 91 Academic 8% partnership base, with 91 Active Partners as of 12/31/2024 Commercial 23% Discovery 69% • New platform licenses added in Q4 with Incyte 50 n=91 Corporation an
Slide 7: Active Programs
7 Active Programs 12% GROWTH YEAR-OVER-YEAR Number of Active Programs 2024 Change in 400 Active Programs 363 69 363 • Strong year-over-year growth in Active Programs, driven by new 325 program additions (31) • Q4 was an especially productive 200 quarter for additions • >98% of our Active Programs ha
Slide 8: Active Clinical Programs and Approved Products
8 Active Clinical Programs and Approved Products Number of Active Clinical Programs and Approved Products(1) 32 • 32 active clinical programs and approved products as of 12/31/2024(2) 30 ‒ Our partners have now initiated and/or completed over 200 clinical trials with OmniAb-derived programs • Five O
Slide 9: New Clinical Programs and Clinical Attrition in 2024
9 New Clinical Programs and Clinical Attrition in 2024 FIVE NOVEL OMNIAB-DERIVED PROGRAMS ENTERED THE CLINIC LAST YEAR + New Clinical-Stage TEV-56278 M5542 GEN1057 JNJ-87562761 ILB2101 Additions (PD-1 with IL-2) (CTLA-4 x OX40L) (FAPα x DR4) (GPRC5D) (CD40) in 2024 Entered Clinic Entered Clinic Ente
Slide 10: Post-Discovery Stage Programs
10 Post-Discovery Stage Programs >30% GROWTH IN POST-DISCOVERY STAGE PROGRAMS OVER THE LAST 24 MONTHS As of 12/31/2022 As of 12/31/2023 As of 12/31/2024 Registration: 1 Registration: 1 Approved: 3 Approved: 3 Approved: 3 Phase 3: 1 Phase 3: 4 Phase 3: 2 Phase 2: 2 Preclinical: 15 Preclinical: 13 Pha
Slide 11: Approved, Under Regulatory Review and Clinical-Stage Partner Pipeline
Approved, Under Regulatory Review and Clinical-Stage Partner Pipeline AS OF 12/31/2024 11 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
Slide 12: Clinical and Commercial-Stage Partner Pipeline
Clinical and Commercial-Stage Partner Pipeline 12 (1)(2) AS OF 12/31/2024 ONLY PROGRAMS WITH DOWNSTREAM ECONOMICS ARE SHOWN Phase 1 Phase 2 Phase 3 Registration Approved Johnson & Johnson Aptevo Therapeutics CCTQ Pharma Gloria Biosciences, Arcus Biosciences, Gilead JNJ-70218902 Mipletamig TQB2223 TM
Slide 13: Recent Partner Highlights: Genmab
13 Recent Partner Highlights GENMAB – ACASUNLIMAB (PD-L1 X 4-1BB) • Genmab recently highlighted a potential billion-dollar market opportunity for acasunlimab in NSCLC, highlighting addressable patient populations in US, Japan and EU Reference: Genmab presentation entitled, Year-End Results Period En
Slide 14: Recent Partner Highlights: Teva
14 Recent Partner Highlights TEVA – TEV-’408 (IL-15) & TEV-’278 (PD-L1 - IL-2) • Teva highlighted their continued progress on Innovative Medicine Pipeline, including OmniRat-derived TEV-’408 and OmniChicken- derived TEV-’278 Reference: Teva Pharmaceutical Industries Ltd., Fourth Quarter and Full Yea
Slide 15: Recent Partner Highlights: Immunovant
15 Recent Partner Highlights IMMUNOVANT – IMVT-1402 & BATOCLIMAB (FcRn) • Large potential total addressable market, with multiple indications • IMVT-1402 clinical profile described by Immunovant as potential best-in-class • Immunovant recently highlighted multiple near- term milestones and catalysts
Slide 16: 2025: Looking Ahead
16 2025: Looking Ahead Catalysts for key clinical and future royalty programs, with continued growth and diversification of our partner base Launch of significant new technologies to impact the industry Clear business model, positioned to be leveraged efficiently to create value for stakeholders
Slide 17: Financial Updates
17 Financial Updates Kurt Gustafson
Slide 18: Q4 2024 Revenue
18 Q4 2024 Revenue $ in millions $12 $10.8 $10 • Q4 Total Revenue increased substantially as compared to Q4 2023 $8 • License & Milestone Revenue growth driven by new License & deals and partner program advancement Milestone $6 Revenue $4.8 License & • Service Revenue decreased given completion of w
Slide 19: Q4 2024 Operating Expense
19 Q4 2024 Operating Expense $ in millions $30 $26.7 $26.0 Intangible • Operating expense lower than prior year period $25 Other Impairment excluding $2.7 million impairment charge Other ‒ Intangible Impairment recorded in Q4 related to $20 certain non-core small molecule ion channel G&A intangible
Slide 20: Q4 2024 vs. Q4 2023 Financial Results
20 Q4 2024 vs. Q4 2023 Financial Results (in millions, except per share data) Q4 2023 Q4 2024 Variance License and milestone revenue $ 1.7 $ 8.7 $ 6.9 Service revenue 2.8 2.5 (0.2) Royalty revenue 0.4 (0.4) (0.7) Total revenue 4.8 10.8 6.0 Research & development 14.8 13.3 (1.5) General & administrat
Slide 21: 2024 Revenue
21 2024 Revenue $ in millions $40 $34.2 Teclistimab EU Commercial • Year-over-Year Total Revenue grew excluding Teclistamab Milestone ($10M) the teclistamab EU commercial sale milestone $30 EU of $10 million received in Q1 2023 Commercial Milestone $26.4 ($10M) • License & Milestone Revenue grew exc
Slide 22: 2024 Operating Expense
22 2024 Operating Expense $ in millions $120 $103.6 $100 Intangible & $100.9 Intangible • Full-Year Operating Expense was lower in Other Intangible & Impairment 2024 versus prior year Other $80 • R&D expense decreased slightly due to G&A G&A lower personnel costs and external expenses $60 • G&A expe
Slide 23: FY 2024 vs. FY 2023 Financial Results
23 FY 2024 vs. FY 2023 Financial Results (in millions, except per share data) 2023 2024 Variance License and milestone revenue $ 20.7 $ 13.9 ($ 6.8) Service revenue 12.2 11.9 (0.2) Royalty revenue 1.3 0.6 (0.7) Total revenue 34.2 26.4 (7.8) Research & development 56.5 55.1 (1.4) General & administra
Slide 24: 2024 Quarterly Financial Results
24 2024 Quarterly Financial Results (in millions, except per share data) Q1 Q2 Q3 Q4 2024 License and milestone revenue $ 0.7 $ 3.1 $ 1.4 $ 8.7 $ 13.9 Service revenue 2.8 4.2 2.5 2.5 11.9 Royalty revenue 0.3 0.3 0.3 (0.4) 0.6 Total revenue 3.8 7.6 4.2 10.8 26.4 Research & development 14.6 13.9 13.3
Slide 25: Balance Sheet
25 Balance Sheet (in millions) December 31, December 31, 2023 2024 ASSETS Current assets: Cash & investments $ 87.0 $ 59.4 Accounts receivable, net 3.8 5.3 Other current assets 4.1 3.4 Goodwill & intangible assets 239.4 222.0 PPE & leases 38.2 33.3 Other assets 2.7 2.1 Total assets $ 375.2 $ 325.6 L
Slide 26: 2025 Outlook
26 2025 Outlook $ in millions $ in millions 2024 Revenue 2024 Operating Expense $30 $120 $26.4 $100.9 $2.0 • 2025 Revenue $15.0 • 2025 Operating Expense expected to be $20 expected to be $90 $11.9 million to $25 million $30.7 million to $95 million $15 $60 • Cash received from • Historically ~40% of
Slide 27: Q&A
Omni Q&A
Slide 28: Omni >
Omni >