OmniAb(US:OABI)2025-05-08 20:11Revenue Performance - Revenue for Q1 2025 was $4.2 million, up from $3.8 million in Q1 2024, primarily due to a $1.0 million Phase 1 milestone payment and higher license fees[3] - Total revenue for Q1 2025 was $4,154,000, representing a 9.3% increase from $3,801,000 in Q1 2024[30] - License and milestone revenue increased significantly to $2,021,000, up 182.5% from $716,000 in the same period last year[30] - 2025 revenue guidance is affirmed at $20 million to $25 million, with revised operating expense guidance of $85 million to $90 million[7] Expenses and Losses - Research and development expenses decreased to $12.6 million in Q1 2025 from $14.6 million in Q1 2024, attributed to lower share-based compensation and external expenses[4] - Total operating expenses decreased to $22,998,000, down 12.5% from $26,354,000 in Q1 2024[30] - Net loss for Q1 2025 was $18.2 million, or $0.17 per share, compared to a net loss of $19.0 million, or $0.19 per share, in Q1 2024[5] - Net loss for Q1 2025 was $18,200,000, a slight improvement compared to a net loss of $18,961,000 in Q1 2024[30] Cash and Assets - As of March 31, 2025, cash, cash equivalents, and short-term investments totaled $43.6 million[6] - Cash and cash equivalents decreased to $10,892,000 from $27,598,000 at the end of 2024, a decline of 60.5%[28] - Total assets decreased to $306,182,000 from $325,558,000, reflecting a reduction of 5.9%[28] - Stockholders' equity decreased to $273,516,000 from $287,618,000, a decline of 4.9%[28] Partnerships and Collaborations - OmniAb entered into three new platform license agreements during Q1 2025, including with the Wyss Institute at Harvard University[8] - A research collaboration with Orion Corporation includes an upfront payment of $250,000 and potential milestone payments exceeding $55 million[9] - An asset-based sale with Angelini Pharma includes an upfront payment of $3 million and potential milestones exceeding $170 million[10] - The company had 95 active partners and 378 active programs as of March 31, 2025, including 33 programs in clinical development[10] Programs and Initiatives - OmniAb launched the xPloration Partner Access Program, enhancing scalability and creating new business opportunities[11] - Research and development expenses were $12,602,000, down 13.4% from $14,551,000 in Q1 2024[30] - The weighted-average shares outstanding increased to 105,622,000 from 100,755,000, an increase of 4.3%[30] - The company reported an income tax benefit of $106,000 compared to $2,617,000 in Q1 2024[30]