Core Viewpoint - OmniAb Inc. has launched its latest technology, OmniUltra, which is expected to enhance its product offerings and market position [2]. Group 1: Company Overview - Kurt Gustafson serves as the Chief Financial Officer and Executive VP of Finance at OmniAb [2]. - The company is actively engaging with investors and stakeholders through conference calls to discuss developments and innovations [2]. Group 2: Technology Launch - The launch of OmniUltra is a significant milestone for the company, indicating a focus on advancing its technological capabilities [2]. - Accompanying slides are available in the Investors section of the company's website, providing additional context and details about the launch [2].

Summary of OmniAb's OmniUltra Launch Conference Call Company Overview - **Company**: OmniAb, Inc. - **Event**: OmniUltra Launch virtual investor event - **Date**: December 15, 2025 Key Points Industry and Technology - **New Technology**: OmniUltra, a novel platform for discovering ultra-long cDRH3 antibodies and peptides [5][6] - **Unique Features**: OmniUltra is the first transgenic chicken engineered to produce ultra-long cDRH3s, a structural feature typically found in cow antibodies, but with human sequences for therapeutic use [5][6] - **Evolutionary Advantage**: The use of chickens allows for robust immune responses to human targets due to their evolutionary distance from mammals [10][11] Scientific Advancements - **Therapeutic Discovery**: OmniUltra enables the discovery of unique binding fragments called Pico bodies, which can access previously unreachable therapeutic targets [6][7] - **Peptide Therapeutics**: The technology allows for the synthesis of peptides that retain binding activity, providing a new avenue for therapeutic development [12][13] - **Market Growth**: There is a significant increase in the number of new peptides entering clinical trials, indicating a growing interest in peptide therapeutics [17][18] Business Opportunities - **Market Potential**: OmniUltra opens up new licensing opportunities and collaborations, targeting over 130 companies involved in peptide development [18][26] - **Client Engagement**: The technology is expected to attract new partners and revive interest from existing partners, enhancing business development efforts [33][34] - **Revenue Generation**: The platform is anticipated to drive service revenue and increase deal-making diversity [18][19] Competitive Edge - **Biological Intelligence**: The concept that in vivo generated molecules are superior due to natural optimization processes, enhancing specificity and developability [9][10] - **Reduced Immunogenicity**: Smaller peptide structures and stabilized formats are expected to lower immunogenicity risks compared to traditional antibody formats [30][31] Future Outlook - **Partnership Growth**: The launch of OmniUltra is expected to increase the cadence of new partnerships and collaborations in the coming years [32][34] - **Investment in Infrastructure**: OmniAb has made prior investments in facilities and infrastructure, allowing for scalable operations without significant incremental costs [36] Additional Insights - **Scientific Presentations**: OmniUltra was showcased at the Antibody Engineering and Therapeutics Conference, highlighting its innovative capabilities [4][5] - **Confidential Programs**: Three partner programs utilizing OmniUltra technology are currently confidential, but they are generating excitement within the industry [20][21] This summary encapsulates the critical aspects of OmniAb's conference call regarding the launch of their new technology, OmniUltra, and its implications for the industry and the company's future.

OmniUltra Platform Overview - OmniUltra is the first and only transgenic chicken producing antibodies on a human framework with ultralong CDRH3s, similar to those found in cows[24] - Ultralong CDRH3s can reach binding pockets inaccessible to other antibodies, and can be cleaved to create Picobodies, the smallest functional antibody fragment[24] - OmniUltra is engineered for *in vivo* optimization, generating molecules pre-selected for function, affinity, and structural stability, potentially uncovering novel binding domains[27] - The platform leverages a transgenic chicken host to deliver biologically-optimized structured peptides, unlike phage display or other peptide discovery technologies[28] Competitive Advantages and Biological Intelligence - Antibodies generated *in vivo* are naturally optimized for specificity and developability[37] - The immune system in engineered transgenic animals creates optimized antibodies for human therapeutics, termed Biological Intelligence, increasing the efficiency and probability of success in therapeutic antibody discovery[37] - Greater evolutionary distance yields greater immunogenicity and more antibody diversity in chicken platforms[38] Epitope Coverage and Peptide Discovery - OmniUltra chickens are immunoresponsive to a variety of antigen targets[42] - Ultralong CDRH3 IgG clones bind to overlapping and novel epitopes[45] - OmniUltra can identify naturally-optimized peptide sequences that can be chemically synthesized as picobodies and retain antibody-like affinity and specificity to the immunized target[49] Market Opportunities and Expansion - The estimated total available commercial therapeutic market in 2034 is over $1 trillion, including peptides ($332 billion), bi-specifics ($460 billion), CAR-T ($224 billion), and radiopharma ($14 billion)[64] - Expansion into peptides provides an opportunity to drive service revenue and increases the potential audience of new partners by adding >130 peptide companies[66, 68]

Financial Data and Key Metrics Changes - For Q3 2025, the company reported revenue of $2.2 million, a decrease from $4.2 million in Q3 2024, primarily due to reduced milestones and lower service revenue [21] - Operating expenses decreased to $20.4 million from $23.9 million year-over-year, with reductions in both R&D and G&A expenses [22] - The net loss for Q3 2025 was $16.5 million or $0.14 per share, compared to a net loss of $16.4 million or $0.16 per share in Q3 2024 [23] Business Line Data and Key Metrics Changes - The number of active partners reached 104, with 36 new programs added year-to-date, including 18 in Q3 [6][7] - Active programs leveraging the company's technologies increased to 399, with a 15% year-over-year growth in post-discovery stage programs [8] - The company has 32 active clinical programs and approved products as of the end of Q3 [9] Market Data and Key Metrics Changes - The company noted that over half of its partners are based in the U.S., while international reach continues to grow [6] - The company is seeing strong interest in its Exploration Partner Access program, which is expected to drive new program growth and deepen engagement with partners [12][13] Company Strategy and Development Direction - The company is launching a new technology, OmniUltra, which is expected to open new markets and business opportunities, particularly in peptide therapeutics [5][19] - The company aims to enhance financial flexibility and strengthen its balance sheet through strategic private placements [6][21] - The Exploration program is designed to complement the core technology licensing business and is expected to be accretive to earnings and cash flow [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for new clinical program entries, although some milestones have been pushed to 2026 due to partner priorities [10][24] - The company is seeing continued momentum in program additions and an increased focus from academic partners on monetizing programs [36] - Management anticipates that the 2025 revenue will be between $18 and $22 million, with operating expenses between $82 and $86 million [24] Other Important Information - The company completed a $30 million private placement in August, netting $28 million, which is expected to bolster its cash runway [21][24] - The company is preparing for the formal launch of OmniUltra at the Antibody Engineering and Therapeutics Conference in December [19][50] Q&A Session Summary Question: What motivated the timing of the private placement? - The company decided it was the right time to bolster the balance sheet as market conditions became more favorable [26] Question: Can you provide additional color on customer conversations regarding Exploration? - Interest has been strong, particularly from higher-tier partners, with positive feedback on the efficiency and ease of use of the Exploration instrument [29] Question: What is the launch readiness of OmniUltra? - Substantial validation work has been completed, and the company is well-positioned for the launch in December [31] Question: How much revenue can be generated from Exploration? - The company expects Exploration to be accretive to earnings and cash flow, with multiple revenue streams associated with it [32] Question: Are R&D budgets for 2026 expected to increase? - Conversations indicate a positive trend in R&D budgets, with strong program addition momentum observed [38]

Business Highlights - OmniAb has 104 active partners as of September 30, 2025 [13] - The company has 399 active programs as of September 30, 2025, a net addition of 36 programs year-to-date [16, 18] - There are 32 active clinical programs and approved products as of September 30, 2025 [26] - OmniAb is launching OmniUltra in December, a new technology for antibody and peptide therapeutics discovery [11, 41] Financial Performance - Q3 2025 total revenue was $22 million, compared to $42 million in Q3 2024 [65] - License and milestone revenue decreased to $06 million in Q3 2025 from $14 million in Q3 2024 [65] - Service revenue decreased to $12 million in Q3 2025 from $25 million in Q3 2024 [65] - Royalty revenue increased to $04 million in Q3 2025 from $03 million in Q3 2024 [65] - Research and Development expenses decreased to $104 million in Q3 2025 from $133 million in Q3 2024 [65] - Net loss was ($165) million in Q3 2025, compared to ($164) million in Q3 2024 [65] Financial Guidance - The company expects 2025 revenue to be in the range of $18 to $22 million [67] - The company expects 2025 operating expense to be in the range of $82 to $86 million [67]