Slide 1: Full Year 2022 Financial Results & Business Update
1 Full Year 2022 Financial Results & Business Update Nasdaq: OABI March 30, 2023
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, business stra
Slide 3: Introduction
Omni Introduction : Matt Foehr
Slide 4: Our Business
4 Our Business OUR BUSINESS MODEL IS FOCUSED ON LICENSING OUR PROPRIETARY DISCOVERY TECHNOLOGY WORLDWIDE INDUSTRY’S ONLY 4-SPECIES PLATFORM TRANSGENIC ANIMALS FOR FULLY HUMAN AND BISPECIFIC ANTIBODY DISCOVERY LEADING AND PROVEN ONE OF THE LARGEST GREENFIELDS TECHNOLOGY IN THE PHARMA INDUSTRY 69 PART
Slide 5: Performance Indicators
5 Performance Indicators SIGNIFICANT GROWTH IN ACTIVE PARTNERS AND ACTIVE PROGRAMS Number of Active Number of Active Partners Programs 300 • Strong annual growth in key performance indicators continues, net of attrition 250 ‒ Active Partners:(1) ̴ 18% CAGR 2016 through 2022 200 ‒ Active Programs:(2)
Slide 6: Performance Indicators: Active Clinical Programs and Approved Products
6 Performance Indicators ACTIVE CLINICAL PROGRAMS AND APPROVED PRODUCTS Number of Active • Our platform continues to generate new clinical programs Clinical Programs and Approved Products • Three new programs entered the clinic in 2022, each with new modality, further 30 demonstrating the flexibilit
Slide 7: Active Programs by Stage of Development
7 Active Programs by Stage of Development 291 as of 12/31/2022 Continued growth and matriculation of partnered programs
Slide 8: Active Programs by Antibody Source Technology
8 Active Programs by Antibody Source Technology 3% 26% 55% 14% 2% Significant diversity of source As of 12/31/2022, Combination of sources allocated to contributing source used based on percentage of end therapeutic
Slide 9: Diverse Formats and Modalities of Clinical Molecules
9 Diverse Formats and Modalities of Clinical Molecules THREE NEW FORMATS INTRODUCED TO CLINIC IN RECENT MONTHS IgG IgG ADC Duobody® Fab-VHH ADAPTIR™ 10% (IgG4 exchange) (Knob-in-hole) scFv-Fc-scFv Multispecific (incl. T cell HexaBody® Monospecific IgG-scFv IgG-Anticalin® Fab-Fc/scFv-Fc-scFv engager)
Slide 10: Q4 and Recent Updates
10 Q4 and Recent Updates SELECT RECENT DEVELOPMENTS SHOW CONTINUED PARTNER MOMENTUM AND PLATFORM VALUE TECVAYLI® Batoclimab Zimberelimab Sugemalimab BCMA x CD3 FcRn PD-1 PD-L1 • US Marketing authorization • Harbour announced positive • Gilead Sciences and Arcus • EQRx announced acceptance granted fo
Slide 11: We Plan to Continue to Innovate Around our Technology
11 We Plan to Continue to Innovate Around our Technology THROUGH BUSINESS DEVELOPMENT AND INTERNAL INVESTMENT Create Diverse Screen Antibody Identify the Antibody Repertoires Candidates Right Antibody Create Diverse Repertoires of High-Quality Screen Millions of Cells to Find Further Characterize, S
Slide 12: Our Key Areas of Focus Going Forward
12 Our Key Areas of Focus Going Forward 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 Relat
Slide 13: Financial Updates
13 Financial Updates Kurt Gustafson
Slide 14: Business Model
14 Business Model OUR AGREEMENTS ARE STRUCTURED TO ALIGN ECONOMIC AND SCIENTIFIC INTERESTS WITH OUR PARTNERS License partnerships designed to include: • Upfront/Access fees • Potential Collaboration/Service fees • Milestones • Royalties on commercial sales
Slide 15: Q4 2022 Financial Highlights
15 Q4 2022 Financial Highlights ($ Millions) Q4 2021 Q4 2022 Variance License and milestone revenue $ 9.5 $ 31.1 $ 21.7 Service revenue 5.8 3.9 (2.0) Royalty revenue 0.0 0.4 0.4 Total revenues 15.3 35.3 20.1 Research & development 11.0 12.9 1.9 General & administrative 4.3 10.2 5.9 Amortization of i
Slide 16: FY 2022 Financial Results
16 FY 2022 Financial Results ($ Millions) FY21 FY22 Variance License and milestone revenue $ 14.7 $ 38.9 $ 24.3 Service revenue 20.1 18.8 (1.3) Royalty revenue 0.0 1.4 1.4 Total revenues 34.7 59.1 24.3 Research & development 39.2 48.4 9.1 General & administrative 16.9 24.9 8.0 Amortization of intang
Slide 17: Share Information – as of 12/31/22
17 Share Information – as of 12/31/22 (in millions) • Basic Shares Basic Share Count 98.9 ‒ Common Shares Outstanding/Public Float • Earnout Shares Total Earnout Shares 16.3 ‒ 50% vest at $12.50, 50% vest at $15.00 RSU/Options/Warrants ‒ VWAP of stock for 20 out of 30 consecutive trading days at eac
Slide 18: Cash Position Provides Long Operational Runway
18 Cash Position Provides Long Operational Runway ($ millions) 12/31/22 Cash Balance* $88 Teclistamab/TECVAYLI First Commercial Sale Milestones $35 Received in January 2023 Proforma Cash Position $123 * Includes cash, cash equivalents and short-term investments BUSINESS IS CLOSE TO BREAK-EVEN CASH F
Slide 19: 2022 Financial Results by Quarter
19 2022 Financial Results by Quarter ($ Millions) Q1 Q2 Q3 Q4 Contract revenue $ 4.1 $ 2.3 $ 1.4 $ 31.1 Service revenue 5.3 4.7 4.9 3.9 Royalty revenue 0.3 0.1 0.6 0.4 Total Revenue 9.6 7.2 6.9 35.3 Research & development 10.8 11.5 13.2 12.9 General & administrative 4.1 5.0 5.6 10.2 Amortization of
Slide 20: Q&A
Omni Q&A
Slide 21: Omni >
Omni >
Slide 22: Approved and Clinical-Stage Partner Pipeline as of 12/31/2022
22 Approved and Clinical-Stage Partner Pipeline as of 12/31/2022 THREE APPROVED PRODUCTS AND 23 ACTIVE CLINICAL-STAGE ANTIBODIES 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 Tecli