Welcome to our dedicated page for OmniAb news (Ticker: OABI), a resource for investors and traders seeking the latest updates and insights on OmniAb stock.
OmniAb, Inc. reports developments tied to its antibody discovery technology platform, partner pipeline and licensing model. The company licenses discovery research technology to pharmaceutical, biotechnology and academic partners, using engineered transgenic animals, Biological Intelligence™, computational antigen design, immunization methods, high-throughput single B-cell screening and sequencing-data mining to identify human antibody and target-binding protein candidates.
Recurring news includes quarterly financial results, partner program updates, new license agreements, milestone and royalty revenue, and technology launches such as OmniUltra™ and the xPloration® partner access program. Company updates also cover clinical and commercial progress of OmniAb-derived partnered programs, investor conference participation and corporate presentations focused on antibody discovery applications.
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.
OmniAb, Inc. (NASDAQ: OABI) reported financial results for Q1 2024, highlighting a revenue of $3.8 million, research and development expenses of $14.6 million, and a net loss of $19.0 million. The company signed three new license agreements and has 80 active partners with 327 active programs. Financial guidance projects similar expenses in 2024 as in 2023, with sufficient capital to fund operations. Partner highlights include advancements in clinical trials, patent approvals, and promising data on various programs.
OmniAb, Inc. (NASDAQ: OABI) is set to participate in five investor conferences in May, including the RBC Capital Markets Global Healthcare Conference, H.C. Wainwright BioConnect Investor Conference, Benchmark Virtual Healthcare House Call Investor Conference, Craig-Hallum Institutional Investor Conference, and Leerink Partners Healthcare Crossroads Conference. These events will provide opportunities for management to engage with investors, present fireside chats, participate in one-on-one meetings, and share insights on the company's future prospects.
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