OmniAb, Inc. - OABI STOCK NEWS

OmniAb (NASDAQ: OABI) reported its Q3 2024 financial results, with revenue dropping to $4.2M from $5.5M in Q3 2023, primarily due to timing of milestones and lower ion channel service revenue. R&D expenses decreased to $13.3M from $13.9M, and G&A expenses fell to $7.1M from $8.5M. Net loss stood at $16.4M, or $0.16 per share, compared to a net loss of $15.7M, or $0.16 per share, in Q3 2023. For the nine months ending September 30, 2024, revenue was $15.6M, down from $29.3M, attributed to a prior $10M milestone. Net loss for this period was $49M, or $0.48 per share, compared to $36.6M, or $0.37 per share, in 2023. OmniAb had $59.4M in cash and short-term investments as of September 30, 2024. The company entered new platform license agreements and expanded partnerships, with 86 active partners and 352 active programs. OmniAb anticipates ending 2024 with a cash balance of $50M-$60M.

OmniAb (NASDAQ: OABI) announced its participation in two major investor conferences in November. The company will attend the Stifel 2024 Healthcare Conference at the Lotte New York Palace Hotel on November 18-19, where CFO Kurt Gustafson will conduct one-on-one investor meetings. Additionally, CEO Matt Foehr will participate in the Jefferies London Healthcare Conference at the Waldorf Hilton from November 19-21, engaging in one-on-one and small-group investor meetings.

OmniAb, Inc. (NASDAQ: OABI) has announced that it will report its financial results for the third quarter of 2024 on Tuesday, November 12, 2024. The company will release the results after the close of U.S. financial markets and will host a conference call at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) on the same day.

Interested parties can access the conference call via phone using the following numbers:

• U.S.: (800) 549 8228
• International: (289) 819 1520
• Conference ID: 94399

Additionally, a live webcast of the call, including slides, will be available. A replay of the webcast will also be accessible after the call.

OmniAb (NASDAQ: OABI) has announced its participation in two upcoming investor conferences in September. The company will be present at the H.C. Wainwright 26th Annual Global Investment Conference from September 9-11 in New York City, where management will deliver a corporate presentation on September 10th at 2:30 p.m. Eastern Time. Additionally, OmniAb will take part in the Craig-Hallum Bioprocessing Virtual Conference on September 19th, featuring a fireside chat.

At both events, OmniAb's management team will engage in one-on-one meetings with investors, providing opportunities for direct interaction and discussions about the company's progress and future plans. These conferences offer valuable platforms for OmniAb to showcase its developments and connect with the investment community.

OmniAb, (NASDAQ: OABI), reported financial results for Q2 2024. Revenue was $7.6M, up from $6.9M in Q2 2023. R&D expenses were $13.9M, slightly down from $14.1M in Q2 2023. General and admin expenses decreased to $8M from $8.7M. The net loss was $13.6M, improved from $14.7M last year.

For the first half of 2024, revenue was $11.4M, down from $23.9M in the same period in 2023. The net loss for the period was $32.6M, compared to $20.8M in 2023. As of June 30, OmniAb had cash and equivalents of $57.2M.

OmniAb signed new platform license agreements and expanded partnerships, with 83 active partners and 333 active programs. Significant progress includes Immunovant's advancement of IMVT-1402 and Harbour Biomed's batoclimab resubmission in China.

OmniAb expects 2024 operating expenses to be slightly less than 2023, with cash use similar, excluding a $35M milestone payment. Cash use in 2025 is expected to be lower.

OmniAb, Inc. (NASDAQ: OABI) has announced that it will release its financial results for the second quarter of 2024 on Thursday, August 8, 2024, after the U.S. financial markets close. The company will also host a conference call and webcast on the same day at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss the results and provide business updates. Interested parties can access the call using the provided U.S. and international phone numbers, with the conference ID 01718. A live webcast and replay of the call, along with accompanying slides, will be available on the company's website.

OmniAb (NASDAQ: OABI) has published a peer-reviewed paper in the Journal of Immunology detailing the development of engineered chickens that produce heavy chain-only single-domain antibodies (sdAbs). These sdAbs, naturally found in camelids, are highly modular and stable, making them ideal for antibody discovery and therapeutic applications.

The research, led by OmniAb's scientific team, demonstrated that chickens can be genetically modified to produce sdAbs by deleting the light chain variable region. The resulting OmnidAb™ platform produces fully human, stabilized sdAbs, offering new avenues for diagnostics and treatments.

OmniAb's CEO, Matt Foehr, highlighted that the company collaborates with 80 partners globally, including major pharmaceutical companies, startups, and academic institutions.

OmniAb (NASDAQ: OABI) announced its participation in the Jefferies Global Healthcare Conference from June 4-6, 2024, in New York City. The company’s management will present a corporate overview on June 5 at 8:00 a.m. Eastern time and engage in one-on-one meetings with investors. The presentation will be available live and archived on OmniAb's website.

OmniAb (Nasdaq: OABI) showcased its high-throughput single B-cell screening platform, xPloration, at the 20th Annual PEGS Boston Summit. This platform leverages AI and machine learning to facilitate bispecific antibody discovery workflows for partners. Key synergies between xPloration, OmniFlic, OmniClic, and OmniDeep were highlighted. A case study demonstrated the rapid discovery of antibody panels targeting NKp46, potentially aiding partners in developing natural killer cell engager bispecific antibodies. xPloration screened millions of cells, identifying thousands of unique antibody sequences with high affinity. This technology aims to enhance partner R&D pipelines and therapeutic solutions.