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OmniAb(OABI) - 2024 Q4 - Annual Results
OABIOmniAb(OABI)2025-03-18 20:10

Revenue Performance - Revenue for Q4 2024 was 10.8million,a12510.8 million, a 125% increase from 4.8 million in Q4 2023, driven by higher license and milestone revenue [3] - Full year 2024 revenue was 26.4million,downfrom26.4 million, down from 34.2 million in 2023, primarily due to the recognition of a 10.0millionTECVAYLImilestonein2023[6]−TotalrevenueforQ42024was10.0 million TECVAYLI milestone in 2023 [6] - Total revenue for Q4 2024 was 10,804,000, a significant increase of 124% compared to 4,822,000inQ42023[30]−Licenseandmilestonerevenueroseto4,822,000 in Q4 2023 [30] - License and milestone revenue rose to 8,650,000 in Q4 2024, up from 1,713,000inQ42023,representingagrowthof4041,713,000 in Q4 2023, representing a growth of 404% [30] Expenses and Losses - Research and development expense for Q4 2024 was 13.3 million, a decrease of 10.1% from 14.8millioninQ42023[4]−NetlossforQ42024was14.8 million in Q4 2023 [4] - Net loss for Q4 2024 was 13.1 million, or 0.12pershare,comparedtoanetlossof0.12 per share, compared to a net loss of 14.1 million, or 0.14pershareinQ42023[5]−Researchanddevelopmentexpensesfortheyearwere0.14 per share in Q4 2023 [5] - Research and development expenses for the year were 55,110,000, a slight decrease from 56,525,000in2023[30]−Operatingexpensestotaled56,525,000 in 2023 [30] - Operating expenses totaled 100,893,000 for the year, down from 103,583,000in2023,showingareductionof2.6103,583,000 in 2023, showing a reduction of 2.6% [30] - The company reported a basic and diluted net loss per share of 0.12 for Q4 2024, compared to 0.14inQ42023[30]CashFlowandAssets−Cashusein2024was0.14 in Q4 2023 [30] Cash Flow and Assets - Cash use in 2024 was 38.9 million, and OmniAb anticipates lower cash use in 2025 [8] - Cash and cash equivalents increased to 27,598,000in2024from27,598,000 in 2024 from 16,358,000 in 2023, marking a growth of 68.5% [28] - Total assets decreased to 325,558,000in2024from325,558,000 in 2024 from 375,225,000 in 2023, reflecting a decline of 13.2% [28] - Total liabilities reduced to 37,940,000in2024,downfrom37,940,000 in 2024, down from 60,640,000 in 2023, indicating a decrease of 37.4% [28] Partnerships and Development - As of December 31, 2024, OmniAb had 91 active partners and 363 active programs, including 32 programs in clinical development [9] - Five new OmniAb-derived antibodies entered clinical trials in 2024, indicating ongoing innovation and development [9] - The company signed 10 new license agreements in 2024, including two in Q4 with Incyte Corporation and Photinia Biosciences [9] Future Outlook - OmniAb expects 2025 revenue to be in the range of 20millionto20 million to 25 million, with operating expenses projected between 90millionand90 million and 95 million [8] - OmniAb launched OmniHub in December 2024, a bioinformatics portal designed to enhance data visualization and secure data transfer for partners [10] Share Information - The weighted-average shares outstanding increased to 104,795,000 in Q4 2024 from 100,162,000 in Q4 2023 [30]