Cash Flow ConcernsDespite a strong partner pipeline, OmniAb's cash balance raises concerns given its projected cash burn, challenging its path to cash flow profitability.
Revenue DeclineOmniAb experienced a 30% decrease in service revenues due to the completion of certain small molecule ion channel programs, impacting overall financial results.
Revenue MissQ1 revenues of $4.2 million were slightly below the consensus estimate of $4.5 million, reflecting challenges in meeting market expectations.