Exhibit 99.1 OmniAb Reports First Quarter 2024 Financial Results and Business Highlights Conference Call with Slides Begins at 4:30 p.m. Eastern Time Today EMERYVILLE, Calif. (May 9, 2024) – OmniAb, Inc. (NASDAQ: OABI) today reported financial results for the three months ended March 31, 2024, and provided operating and partner program updates. "The OmniAb team continued to make great progress this past quarter in advancing and expanding our portfolio and partnership base. We added three new platform licens ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________________________________________________ FORM 10-K _____________________________________________________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transitio ...

1 | --- | --- | --- | --- | --- | |-------------------------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Q4 and Full Year 2023 Financial Results & Business Update | | | | | | Nasdaq: OABI | | | | | | March 20, 2024 | | | | | 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 rega ...

OmniAb 2023 Q4 and Full Year Financial and Business Highlights [Overview and Business Highlights](index=1&type=section&id=Overview%20and%20Business%20Highlights) OmniAb significantly expanded its partnership base and pipeline in 2023, launching new technologies and global business development - CEO Matt Foehr highlighted 2023 as a year of significant expansion, with partners exceeding expectations by advancing **six new programs into the clinic**[2](index=2&type=chunk) - The company successfully launched two new technologies and expanded its business development function globally to the U.S., EU, and Asia Pacific[2](index=2&type=chunk) [Financial Performance](index=1&type=section&id=Financial%20Performance) OmniAb's 2023 financial performance showed decreased revenue and increased net loss, driven by lower milestone payments and higher operating expenses [Fourth Quarter 2023 Financial Results](index=1&type=section&id=Fourth%20Quarter%202023%20Financial%20Results) Q4 2023 revenue significantly decreased to **$4.8 million** from **$35.3 million** in Q4 2022, resulting in a net loss of **$14.1 million** Q4 2023 vs Q4 2022 Financials (in millions, except EPS) | Metric | Q4 2023 | Q4 2022 | Change | | :--- | :--- | :--- | :--- | | **Revenue** | **$4.8** | **$35.3** | **-86.4%** | | R&D Expense | $14.8 | $12.9 | +14.7% | | G&A Expense | $7.9 | $10.2 | -22.5% | | **Net Income (Loss)** | **($14.1)** | **$6.8** | **N/A** | | Diluted EPS | ($0.14) | $0.07 | N/A | - The significant revenue decrease was primarily due to the recognition of a **$25.0 million** milestone payment in Q4 2022 related to the first commercial sale of TECVAYLI®[3](index=3&type=chunk) - The increase in R&D expense was mainly due to higher personnel costs, while the decrease in G&A expense was attributed to one-time costs in 2022 related to the company's spin-off[3](index=3&type=chunk) [Full Year 2023 Financial Results](index=1&type=section&id=Full%20Year%202023%20Financial%20Results) Full year 2023 revenue declined to **$34.2 million** from **$59.1 million** in 2022, leading to a net loss of **$50.6 million** due to lower milestone payments and increased operating expenses Full Year 2023 vs 2022 Financials (in millions, except EPS) | Metric | FY 2023 | FY 2022 | Change | | :--- | :--- | :--- | :--- | | **Revenue** | **$34.2** | **$59.1** | **-42.1%** | | R&D Expense | $56.5 | $48.4 | +16.7% | | G&A Expense | $33.3 | $24.9 | +33.7% | | **Net Loss** | **($50.6)** | **($22.3)** | **+126.9%** | | Diluted EPS | ($0.51) | ($0.26) | +96.2% | - The increase in R&D expense was driven by higher headcount and facility costs, while the G&A increase was due to higher personnel costs and expenses related to being an independent public company[7](index=7&type=chunk) [Financial Condition and Guidance](index=2&type=section&id=Financial%20Condition%20and%20Guidance) OmniAb concluded 2023 with **$87.0 million** in cash, expecting 2024 operating expenses and cash use to remain stable, with a significant reduction in cash use projected for 2025 - As of December 31, 2023, the company had cash, cash equivalents, and short-term investments of **$87.0 million**[8](index=8&type=chunk) - 2024 operating expense is expected to be approximately the same as in 2023[9](index=9&type=chunk) - Cash use in 2024 is expected to be similar to 2023 (excluding the **$35 million** TECVAYLI milestone), with a substantial decrease anticipated in 2025[10](index=10&type=chunk) [Operational and Partner Updates](index=2&type=section&id=Operational%20and%20Partner%20Updates) OmniAb achieved significant operational milestones in 2023, including **10 new licenses**, two technology launches, and pipeline growth to **325 active programs** [Business and Technology Updates](index=2&type=section&id=Business%20and%20Technology%20Updates) In 2023, OmniAb signed **10 new licenses**, expanded its pipeline to **325 active programs**, launched OmniDeep and OmnidAb technologies, and was added to the Nasdaq Biotechnology Index 2023 Operational Metrics | Metric | Value (as of Dec 31, 2023) | | :--- | :--- | | New Licenses in 2023 | 10 | | New Clinical Entrants in 2023 | 6 | | Active Partners | 77 | | Active Programs | 325 | | Clinical/Commercialized Programs | 32 | - Launched OmniDeep™, a suite of in silico tools including AI and machine learning models to enhance therapeutic discovery and optimization[12](index=12&type=chunk) - Launched OmnidAb™, a transgenic chicken platform for generating single-domain antibodies with favorable developability profiles[12](index=12&type=chunk) - OmniAb was added to the Nasdaq Biotechnology Index (NBI), effective December 18, 2023[19](index=19&type=chunk) [Partner Program Highlights](index=3&type=section&id=Partner%20Program%20Highlights) Partners advanced OmniAb-derived antibodies, with Immunovant reporting positive batoclimab and IMVT-1402 data, Genmab planning acasunlimab Phase 3, and CStone's sugemalimab receiving NMPA approval - **Batoclimab (Immunovant):** Reported positive initial Phase 2 results in Graves' disease and is on track for Phase 3 data in MG (2H 2024) and TED (1H 2025)[17](index=17&type=chunk) - **IMVT-1402 (Immunovant):** Phase 1 data showed significant IgG reduction with minimal impact on albumin and LDL-C, supporting its potential as a best-in-class FcRn inhibitor[17](index=17&type=chunk) - **Acasunlimab (Genmab):** Plans to initiate a Phase 3 study in second-line NSCLC in 2024[17](index=17&type=chunk) - **Sugemalimab (CStone):** Approved by China's NMPA for first-line treatment of esophageal squamous cell carcinoma, becoming the world's first anti-PD-L1 mAb for this indication[19](index=19&type=chunk) [Financial Statements](index=7&type=section&id=Financial%20Statements) OmniAb's consolidated financial statements reveal a decrease in total assets to **$375.2 million** in 2023 and an increased net loss for both Q4 and the full year [Consolidated and Combined Balance Sheets](index=7&type=section&id=Consolidated%20and%20Combined%20Balance%20Sheets) OmniAb's total assets decreased to **$375.2 million** by December 31, 2023, driven by lower cash and receivables, with total liabilities and stockholders' equity also declining Balance Sheet Summary (in thousands) | Account | Dec 31, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | Cash, cash equivalents & short-term investments | $86,983 | $88,265 | | Total current assets | $94,901 | $124,950 | | **Total assets** | **$375,225** | **$421,212** | | Total current liabilities | $23,116 | $26,022 | | **Total liabilities** | **$60,640** | **$79,839** | | **Total stockholders' equity** | **$314,585** | **$341,373** | [Consolidated and Combined Statements of Operations](index=8&type=section&id=Consolidated%20and%20Combined%20Statements%20of%20Operations) For full year 2023, OmniAb reported total revenues of **$34.2 million** and a net loss of **$50.6 million**, or **$0.51** per share, due to operating expenses of **$103.6 million** Statement of Operations Summary - Full Year (in thousands) | Account | Year Ended Dec 31, 2023 | Year Ended Dec 31, 2022 | | :--- | :--- | :--- | | License and milestone revenue | $20,699 | $38,926 | | Service revenue | $12,180 | $18,784 | | **Total revenues** | **$34,164** | **$59,077** | | Research and development | $56,525 | $48,364 | | General and administrative | $33,313 | $24,903 | | **Total operating expenses** | **$103,583** | **$85,725** | | Loss from operations | ($69,419) | ($26,648) | | **Net loss** | **($50,619)** | **($22,334)** |

1 Disclaimer All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, expected cash runway, business strategy, our expectations regarding the application of, and the rate and degree of market acceptance of, our technology platform and other technologies, our expectations regarding the addressable markets for our technologies, including the growth rate of the markets in which we operate and ...

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Condensed Consolidated and Combined Financial Statements (unaudited)](index=3&type=section&id=ITEM%201.%20Condensed%20Consolidated%20and%20Combined%20Financial%20Statements%20(unaudited)) This section presents the unaudited financial statements for OmniAb, Inc. for the period ended September 30, 2023, including balance sheets, statements of operations, changes in stockholders' equity, and cash flows, reflecting a net loss of $15.7 million for the third quarter and $36.6 million for the nine-month period, with total assets of $391.7 million as of September 30, 2023 [Condensed Consolidated and Combined Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20and%20Combined%20Balance%20Sheets) As of September 30, 2023, total assets were $391.7 million, a decrease from $421.2 million at December 31, 2022, primarily due to lower cash and accounts receivable, while total liabilities decreased to $67.2 million from $79.8 million, and total stockholders' equity declined from $341.4 million to $324.5 million, mainly driven by the accumulated deficit from net losses during the period Condensed Consolidated and Combined Balance Sheets (in thousands) | | September 30, 2023 (Unaudited) | December 31, 2022 | | :--- | :--- | :--- | | **Total current assets** | $106,848 | $124,950 | | **Total assets** | **$391,708** | **$421,212** | | **Total current liabilities** | $25,060 | $26,022 | | **Total liabilities** | **$67,159** | **$79,839** | | **Total stockholders' equity** | **$324,549** | **$341,373** | | **Total liabilities and stockholders' equity** | **$391,708** | **$421,212** | [Condensed Consolidated and Combined Statements of Operations and Comprehensive Loss](index=4&type=section&id=Condensed%20Consolidated%20and%20Combined%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) For the third quarter of 2023, total revenues were $5.5 million, a decrease from $6.9 million year-over-year, while the net loss widened to $15.7 million from $12.6 million, and for the nine months ended September 30, 2023, revenues increased to $29.3 million from $23.7 million, driven by higher license and milestone revenue, but increased operating expenses led to a larger net loss of $36.6 million compared to $29.2 million in the prior year period Statements of Operations Highlights (in thousands, except per share data) | | Three Months Ended Sep 30, 2023 | Three Months Ended Sep 30, 2022 | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | **Total revenues** | $5,477 | $6,910 | $29,342 | $23,732 | | **Loss from operations** | $(20,315) | $(14,909) | $(48,213) | $(35,698) | | **Net loss** | **$(15,738)** | **$(12,596)** | **$(36,566)** | **$(29,154)** | | **Net loss per share, basic and diluted** | $(0.16) | $(0.15) | $(0.37) | $(0.35) | [Condensed Consolidated and Combined Statements of Stockholders' Equity](index=5&type=section&id=Condensed%20Consolidated%20and%20Combined%20Statements%20of%20Stockholders%27%20Equity) Total stockholders' equity decreased from $341.4 million as of January 1, 2023, to $324.5 million by September 30, 2023, primarily due to the net loss of $36.6 million incurred over the nine-month period, partially offset by $18.9 million in share-based compensation expense - The company's retained earnings shifted to an accumulated deficit of **$(25.3) million** by September 30, 2023, from retained earnings of **$11.3 million** at the beginning of the year, reflecting the net losses incurred post-separation[16](index=16&type=chunk) [Condensed Consolidated and Combined Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20and%20Combined%20Statements%20of%20Cash%20Flows) For the nine months ended September 30, 2023, the company generated $11.5 million in cash from operating activities, an increase from $3.6 million in the prior-year period, while cash used in investing activities was $23.1 million, primarily for the purchase of short-term investments, and cash used in financing activities was $0.4 million, resulting in an overall decrease of $12.1 million in cash and cash equivalents during the period Cash Flow Summary (in thousands) | Activity | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $11,468 | $3,556 | | **Net cash used in investing activities** | $(23,106) | $(13,112) | | **Net cash (used in) provided by financing activities** | $(396) | $9,556 | | **Net change in cash, cash equivalents and restricted cash** | $(12,034) | — | [Notes to Condensed Consolidated and Combined Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Consolidated%20and%20Combined%20Financial%20Statements) The notes provide detailed explanations of the financial statements, covering the November 2022 separation from Ligand and business combination with APAC (treated as a reverse recapitalization), significant accounting policies including revenue recognition and share-based compensation, details on goodwill, intangible assets, commitments, stockholders' equity structure including warrants and earnout shares, and the calculation of net loss per share - On November 1, 2022, OmniAb completed its separation from Ligand and a business combination with APAC, accounted for as a reverse recapitalization, with financials prior to this date on a carve-out basis from Ligand, and subsequent periods on a standalone consolidated basis[22](index=22&type=chunk)[24](index=24&type=chunk)[32](index=32&type=chunk) - The company qualifies as an emerging growth company and has elected to use the extended transition period for new accounting standards[40](index=40&type=chunk)[41](index=41&type=chunk) - As of September 30, 2023, there were **16.3 million** Earnout Shares and **19.0 million** warrants outstanding, which are contingently issuable or exercisable and could be dilutive in the future[127](index=127&type=chunk)[129](index=129&type=chunk)[132](index=132&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=31&type=section&id=ITEM%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance, business strategy, and liquidity, noting that for the first nine months of 2023, revenue grew 24% year-over-year, driven by a significant milestone payment, but operating expenses also increased 30%, leading to a higher net loss, with the company's business model relying on its OmniAb® technology platform to form partnerships, generating revenue from licenses, services, milestones, and future royalties, and as of September 30, 2023, the company had $96.6 million in cash, cash equivalents, and short-term investments, believed to be sufficient for at least the next 12 months [Overview](index=31&type=section&id=Overview) OmniAb's mission is to enable rapid therapeutic development via its drug discovery technology platform, which combines proprietary transgenic animals and high-throughput screening (termed Biological Intelligence™), partnering with pharmaceutical and biotech firms, structuring deals that typically include upfront/annual license fees, service payments, development milestones, and sales royalties, and as of September 30, 2023, the platform has yielded 3 approved partner products, with 27 more in clinical development - The company's business model is centered on its OmniAb technology platform, which provides partners with access to diverse antibody repertoires from proprietary transgenic animals like OmniRat®, OmniChicken®, and OmniMouse®[171](index=171&type=chunk)[172](index=172&type=chunk)[174](index=174&type=chunk) - As of September 30, 2023, OmniAb had **76 active partners** with **314 active programs**, including **27 in clinical development**, one under regulatory review, and **three approved products**[172](index=172&type=chunk) - In May 2023, the company launched OmniDeep™, a suite of in silico tools for therapeutic discovery and optimization, designed to improve the efficiency of drug development[174](index=174&type=chunk) [Key Business Metrics](index=33&type=section&id=Key%20Business%20Metrics) The company tracks its performance using key metrics that indicate market penetration and future revenue potential, with all key metrics showing growth as of September 30, 2023, compared to the end of 2022, with active partners increasing by 10%, active programs by 8%, and active clinical programs by 19% Key Business Metrics Growth | Metric | September 30, 2023 | December 31, 2022 | % Change | | :--- | :--- | :--- | :--- | | Active partners | 76 | 69 | 10% | | Active programs | 314 | 291 | 8% | | Active clinical programs | 31 | 26 | 19% | | Approved products | 3 | 3 | —% | [Results of Operations](index=33&type=section&id=Results%20of%20Operations) For the nine months ended September 30, 2023, total revenues increased by 24% to $29.3 million, primarily due to a 143% rise in license and milestone revenue, which included a $10.0 million milestone for teclistamab, partially offset by a 37% decline in service revenue, while total operating expenses grew by 30% to $77.6 million, driven by higher personnel costs and public company expenses, resulting in an increased loss from operations of $48.2 million Revenue Comparison - Nine Months Ended September 30 (in thousands) | Revenue Type | 2023 | 2022 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | License and milestone revenue | $18,986 | $7,826 | $11,160 | 143% | | Service revenue | $9,425 | $14,922 | $(5,497) | (37)% | | Royalty revenue | $931 | $984 | $(53) | (5)% | | **Total revenues** | **$29,342** | **$23,732** | **$5,610** | **24%** | - The significant increase in license and milestone revenue was primarily due to the recognition of a **$10.0 million** milestone for the first commercial sale of teclistamab in the E.U.[188](index=188&type=chunk) Operating Expenses Comparison - Nine Months Ended September 30 (in thousands) | Expense Type | 2023 | 2022 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Research and development | $41,759 | $35,445 | $6,314 | 18% | | General and administrative | $25,444 | $14,697 | $10,747 | 73% | | **Total operating expenses** | **$77,555** | **$59,430** | **$18,125** | **30%** | - The increase in G&A expenses was primarily due to higher personnel-related costs and costs associated with operating as a public company[190](index=190&type=chunk)[196](index=196&type=chunk) [Liquidity and Capital Resources](index=35&type=section&id=Liquidity%20and%20Capital%20Resources) As of September 30, 2023, OmniAb held $96.6 million in cash, cash equivalents, and short-term investments, with management believing these funds, along with expected cash from operations, are sufficient to support its needs for at least the next 12 months, and for the first nine months of 2023, net cash from operations was $11.5 million, while the company may receive up to $218.6 million from warrant exercises, which is unlikely while the stock price is below the $11.50 exercise price - The company had cash, cash equivalents, and short-term investments totaling **$96.6 million** as of September 30, 2023[195](index=195&type=chunk) - Management believes existing cash and expected operational cash flow will be sufficient to fund operations for at least the next 12 months[195](index=195&type=chunk) Cash Flow Summary - Nine Months Ended September 30 (in thousands) | Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by Operating activities | $11,468 | $3,556 | | Net cash used in Investing activities | $(23,106) | $(13,112) | | Net cash (used in) provided by Financing activities | $(396) | $9,556 | [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=37&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company states that there have been no material changes to its market risks from those disclosed in its 2022 Annual Report on Form 10-K - As of September 30, 2023, there were no material changes to the company's market risks as discussed in the 2022 Annual Report[211](index=211&type=chunk) [Item 4. Controls and Procedures](index=37&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective at a reasonable assurance level as of September 30, 2023, with no changes in internal control over financial reporting occurring during the quarter that materially affected, or are reasonably likely to materially affect, these controls - Management concluded that the company's disclosure controls and procedures were effective as of September 30, 2023[213](index=213&type=chunk) - There were no material changes in the company's internal control over financial reporting during the third fiscal quarter[214](index=214&type=chunk) [PART II. OTHER INFORMATION](index=38&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=38&type=section&id=ITEM%201.%20Legal%20Proceedings) The company is not currently a party to any legal proceedings that it believes would have a material adverse effect on its business, financial condition, or results of operations - The company is not currently involved in any legal proceedings expected to have a material adverse effect on its business[217](index=217&type=chunk) [Item 1A. Risk Factors](index=38&type=section&id=ITEM%201A.%20Risk%20Factors) The company reports that there have been no material changes to the risk factors previously disclosed in its 2022 Annual Report on Form 10-K - There have been no material changes to the risk factors disclosed in the company's 2022 Annual Report[218](index=218&type=chunk) [Other Items (Items 2, 3, 4, 5)](index=38&type=section&id=ITEM%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section confirms that there were no unregistered sales of equity securities, no defaults upon senior securities, no mine safety disclosures to report, and no other information to disclose for the period - Item 2: None[219](index=219&type=chunk) - Item 3: None[220](index=220&type=chunk) - Item 5: None[222](index=222&type=chunk) [Item 6. Exhibits](index=39&type=section&id=ITEM%206.%20Exhibits) This section provides a list of all exhibits filed with the Form 10-Q, including governance documents, agreements, officer certifications required by the Sarbanes-Oxley Act, and interactive data files (XBRL)

OmniAb, Inc. (NASDAQ:OABI) Q2 2023 Earnings Conference Call August 10, 2023 4:30 PM ET Company Participants Kurt Gustafson - CFO Matthew Foehr - President, CEO Conference Call Participants Puneet Souda - Leerink Partners Robyn Karnauskas - Truist Securities Stephen Willey - Stifel Jack Siedow - Craig-Hallum Chad Wiatrowski - TD Cowen Brandon Carney - B.Riley Operator Good afternoon, and welcome to OmniAb, Inc. Second Quarter 2023 Financial Results and Business Update Conference Call. [Operator Instructions ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________________________________ FORM 10-Q ________________________________________________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 OMNIAB, INC. (Exact na ...

Sources: Clarivate Analytics Cortellis database. Tables of approved mAbs and antibodies in review available at: https://www.antibodysociety.org/resources/approved-antibodies/ (1) Defined as composite success rate of clinical development from Phase I trials to Approval, data from 2011-2020. Source: BIO | QLS Advisors | Informa Feb 2021 Report. (1) Represents the unique number of partners that have an active program or have executed a license agreement in advance of initiating an active program. (2) Represent ...

OmniAb, Inc. (NASDAQ:OABI) Q1 2023 Earnings Conference Call May 11, 2023 8:30 AM ET Company Participants Kurt Gustafson - CFO Matt Foehr - President, CEO Conference Call Participants Nishant Gandhi - Truist Securities Stephen Willey - Stifel Joe Pantginis - H.C. Wainwright Puneet Souda - SVB Securities Steven Mah - TD Securities Matt Hewitt - Craig-Hallum Capital Group Operator Good morning, and welcome to the OmniAb Inc.'s First Quarter 2023 Financial Results and Business Update Conference Call. At this ti ...