Omniab, Inc. · NASDAQ:OABI
Omniab — Q4 2025 Earnings Presentation
26 slides from Omniab's earnings presentation, Mar 4, 2026
Slide 1: Q4 and Full Year 2025 Financial Results & Business Update
1 Q4 and Full Year 2025 Financial Results & Business Update Nasdaq: OABI March 4, 2026
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
4 Highlights Partner pipeline growth and advancement continues, select later-stage assets coming into focus OmniUltra now opening important markets and opportunities, with both new and existing partners Building a strong foundation for xPloration®, positioned for growth and expected to be additive t
Slide 5: Active Partners
5 Active Partners Number of Active Partners(1) Partner Type 107 Academic 13% Discovery • We continue to grow and diversify our 66% partnership base, with 107 Active Partners as Commercial of 12/31/2025 21% n=107 • New licenses added in Q4 include those with Dana Farber Cancer Institute, Mabtrx Partn
Slide 6: Active Programs
6 Active Programs 500 Number of Active Programs(1) 2025 Change in • 407 Active Programs as of Active Programs 12/31/2025 407 84 407 400 363 • Net addition of 44 programs, showing continued strength 300 (40) • Large proportion of additions are 200 derived from our newer technologies 100 • >98% of our
Slide 7: Program Progression Summary
7 Program Progression Summary ADDITIONS AND PROGRAM MOVEMENT BY STAGE IN 2025(1) 40 program terminations (-) Approved 4 regression events 84 program additions (+) 3 Products 25 advancement events Registration 1 2 Programs As a program advances, both the probability Phase 3 -1 of success and the 2 4
Slide 8: Post-Discovery Stage Programs
8 Post-Discovery Stage Programs SIGNIFICANT ANNUAL GROWTH IN POST-DISCOVERY STAGE PROGRAMS CONTINUES Number of Post-Discovery Stage Programs(1)(2) 60 Approved Registration • 59 post-Discovery stage programs as of 12/31/2025 Phase 3 Phase 2 30 Phase 1 • The number of programs successfully progressing
Slide 9: Active Clinical Programs and Approved Products
9 Active Clinical Programs and Approved Products Number of Active Clinical Programs and Approved Products(1)(2) • 32 active clinical programs and approved products as of 12/31/2025 32 ‒ New clinical entrants in 2025 were balanced by attrition • First OmnidAb-derived program entered clinic in Q4 of 2
Slide 10: Clinical and Commercial-Stage Partner Pipeline
Clinical and Commercial-Stage Partner Pipeline 10 (1)(2) AS OF 12/31/2025 ONLY PROGRAMS WITH DOWNSTREAM ECONOMICS ARE SHOWN Phase Phase Phase11 1/1b Phase 1/2 1/2 Phase 2 Phase 3 Registration Approved 1/1b Zhikang Hongyi (Biocity) CessationTherapeutics Zhikang Hongyi (Biocity) Gloria Biosciences CSt
Slide 11: Select Partner Updates
Select Partner Updates 11 IMVT-1402/Batoclimab TEV-’408 M9140 Anti-FcRn Anti-IL-15 CEACAM-5 The potentially registrational trial with IMVT- Topline results of the Phase 1b trial On January 12, 2026, Merck KGaA 1402 in difficult-to-treat rheumatoid arthritis is evaluating TEV-'408 for vitiligo are ex
Slide 12: Upcoming Partner Program Clinical/Regulatory Events
Upcoming Partner Program Clinical/Regulatory Events 12 POTENTIAL EVENTS BASED ON PARTNER DISCLOSURES(1) Potential Potential Clinical Data Events Regulatory Action Teva Vitiligo(3) 1H 2026 Immunovant Thyroid Eye Disease(2) 1H 2026 Salubris 2026 TEV-’408 Batoclimab SAL003 Phase 1b Two Phase 3 Datasets
Slide 13: Recent Technology Launches
13 Recent Technology Launches POSITIONING OUR BUSINESS FOR GROWTH PARTNER ACCESS PROGRAM LAUNCHED LAUNCHED Q4 2025 Q2 2025 OmniUltra is the first and only transgenic chicken producing antibodies featuring ultralong CDRH3 “knob” domains found Deployed instruments performing for partners, naturally in
Slide 14: Financial Updates
14 Financial Updates Kurt Gustafson
Slide 15: Q4 2025 Revenue
15 Q4 2025 Revenue $ in millions $14 $10.8 • License and Milestone revenue decreased due to a decline in license revenue, partially offset by an increase in milestone revenue $8.4 xPloration License & $7 Milestone • Royalty revenue increased, primarily due to an License & adjustment in the prior per
Slide 16: Q4 2025 Costs and Operating Expense
16 Q4 2025 Costs and Operating Expense $ in millions $30 $26.7 • R&D expense increased due to a $3.9 million impairment charge primarily related to certain small $25 Write-off $24.1 molecule ion channel property and equipment Other Other partially offset by lower personnel expenses and $20 lower out
Slide 17: Q4 2025 vs. Q4 2024 Financial Results
17 Q4 2025 vs. Q4 2024 Financial Results (in millions, except per share data) Q4 2024 Q4 2025 Variance License and milestone revenue $ 8.7 $ 5.9 ($ 2.8) Service revenue 2.5 2.2 (0.3) xPloration revenue 0.0 0.0 0.0 Royalty revenue (0.4) 0.2 0.7 Total revenue 10.8 8.4 (2.4) Cost of xPloration revenue
Slide 18: 2025 Revenue
18 2025 Revenue $ in millions $30 $26.4 • License & Milestone Revenue decreased due to a decline in both licensing revenue and milestone achievements License & Milestone $18.7 xPloration • Service Revenue decreased primarily due to the completion of certain legacy small $15 molecule ion channel prog
Slide 19: 2025 Costs and Operating Expense
19 2025 Costs and Operating Expense $ in millions $100.9 Write-off Other $87.6 • Full-Year Operating Expense was significantly Other lower in 2025 versus prior year as the company took steps to reduce costs G&A G&A • R&D expense decreased due to lower $55 personnel costs, stock-based compensation Wr
Slide 20: FY 2025 vs. FY 2024 Financial Results
20 FY 2025 vs. FY 2024 Financial Results (in millions, except per share data) 2024 2025 Variance License and milestone revenue $ 13.9 $ 9.8 ($ 4.1) Service revenue 11.9 7.3 (4.7) xPloration revenue 0.0 0.8 0.8 Royalty revenue 0.6 0.9 0.3 Total revenue 26.4 18.7 (7.7) Cost of xPloration revenue 0.0 0
Slide 21: 2025 Quarterly Financial Results
21 2025 Quarterly Financial Results (in millions, except per share data) Q1 Q2 Q3 Q4 2025 License and milestone revenue $ 2.0 $ 1.2 $ 0.6 $ 5.9 $ 9.8 Service revenue 1.9 1.9 1.2 2.2 7.3 xPloration revenue 0.6 0.1 0.1 0.8 Royalty revenue 0.2 0.1 0.4 0.2 0.9 Total revenue 4.2 3.9 2.2 8.4 18.7 Cost of
Slide 22: Balance Sheet
22 Balance Sheet (in millions) December 31, December 31, 2024 2025 ASSETS Current assets: Cash & investments $ 59.4 $ 54.0 Accounts receivable, net 5.3 7.4 Other current assets 3.4 3.9 Goodwill & intangible assets 222.0 209.1 PPE & leases 33.3 25.0 Other assets 2.1 1.5 Total assets $ 325.6 $ 300.9 L
Slide 23: 2026 Guidance
23 2026 Guidance • Total Revenue expected to be in the range of $25 to $30 million • Operating Expense expected to be in the range of $80 to $85 million • Cash Operating Expense(1) expected to be in the range of $50 to $55 million • Year-end cash balance expected to be in the range of $30 to $35 mil
Slide 24: Future Outlook
24 Future Outlook BUSINESS IS ON A TRAJECTORY TO POSITIVE CASH FLOW in millions Operating • Revenue is expected to grow significantly Revenue Cash Use Expense • Over $3 billion in total contracted milestones(1) $25-$30 $100.9 $38.9 • Current active clinical programs have >$350 $30 $100 $40 $26.4 $87
Slide 25: Q&A
Omni Q&A
Slide 26: Omni >
Omni >