OmniAb(OABI)2025-03-18 20:10Revenue Performance - Revenue for Q4 2024 was $10.8 million, a 125% increase from $4.8 million in Q4 2023, driven by higher license and milestone revenue [3] - Full year 2024 revenue was $26.4 million, down from $34.2 million in 2023, primarily due to the recognition of a $10.0 million TECVAYLI milestone in 2023 [6] - Total revenue for Q4 2024 was $10,804,000, a significant increase of 124% compared to $4,822,000 in Q4 2023 [30] - License and milestone revenue rose to $8,650,000 in Q4 2024, up from $1,713,000 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 $14.8 million in Q4 2023 [4] - Net loss for Q4 2024 was $13.1 million, or $0.12 per share, compared to a net loss of $14.1 million, or $0.14 per share in Q4 2023 [5] - Research and development expenses for the year were $55,110,000, a slight decrease from $56,525,000 in 2023 [30] - Operating expenses totaled $100,893,000 for the year, down from $103,583,000 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 $0.14 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 $27,598,000 in 2024 from $16,358,000 in 2023, marking a growth of 68.5% [28] - Total assets decreased to $325,558,000 in 2024 from $375,225,000 in 2023, reflecting a decline of 13.2% [28] - Total liabilities reduced to $37,940,000 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 $20 million to $25 million, with operating expenses projected between $90 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]