Omniab, Inc. ( (OABI) ) has released its Q4 earnings. Here is a breakdown of the information Omniab, Inc. presented to its investors.
OmniAb, Inc. is a biotechnology company that licenses discovery research technology to pharmaceutical and biotech companies, focusing on creating and screening diverse antibody repertoires for drug development. The company operates in the life sciences sector and is known for its proprietary platform called Biological Intelligence™.
OmniAb recently reported its financial results for the fourth quarter and full year of 2024, highlighting significant growth in active partners and programs. The company introduced new technologies and enhancements, which have strengthened its platform and expanded its reach in the market.
In the fourth quarter of 2024, OmniAb’s revenue increased to $10.8 million from $4.8 million in the same period in 2023, driven by higher license and milestone revenue. However, the company reported a net loss of $13.1 million for the quarter. For the full year 2024, revenue decreased to $26.4 million from $34.2 million in 2023, primarily due to the absence of a significant milestone recognized in the previous year. Despite the revenue decline, the company managed to reduce its research and development and general administrative expenses.
OmniAb’s strategic advancements include signing 10 new license agreements in 2024 and launching OmniHub, a bioinformatics portal designed to enhance data visualization and transfer for partners. The company also reported progress in various clinical programs, including those involving partners like Immunovant and Genmab.
Looking forward, OmniAb has provided financial guidance for 2025, expecting revenue between $20 million and $25 million, with operating expenses projected to be between $90 million and $95 million. The company remains committed to innovation and strategic growth, aiming to leverage its competitive advantages for future opportunities.