{"success":true,"data":{"pressRelease":{"id":"26536","rtpr_id":"nBw5Zq9h9a","ticker":"OABI","exchange":"NASDAQ","all_tickers":["OABI"],"title":"OmniAb Reports First Quarter 2026 Financial Results and Business Highlights","author":"Business Wire","published_at":"2026-05-07T20:05:00.572Z","article_body":"OmniAb Reports First Quarter 2026 Financial Results and Business Highlights\n\nConference Call Begins at 4:30 p.m. Eastern Time Today\n\nOmniAb, Inc. (NASDAQ: OABI) today reported financial results for the three\nmonths ended March 31, 2026, provided operating and partner program updates,\nand increased 2026 financial guidance.\n\n“OmniAb experienced strong momentum during the first quarter as multiple\npartnered programs advanced into later-stage clinical development, reinforcing\nthe diversity and value of our portfolio. With a very strong start to the\nyear, we are raising our 2026 revenue guidance,” stated Matt Foehr, Chief\nExecutive Officer of OmniAb. “Continued progression of partner programs\nhighlights the value of our technology platform and positions our business\nwell for the future. Our innovation efforts continue to differentiate our\nplatform as demonstrated by the launch of OmniUltra(™) and our\nxPloration(®) partner access program.”\n\nFirst Quarter 2026 Financial Results\n\nRevenue for the first quarter of 2026 was $14.4 million, compared with $4.2\nmillion for the same period in 2025, with the increase primarily related to\nmilestone revenue.\n\nResearch and development expense was $9.6 million for the first quarter of\n2026, compared with $12.6 million for the same period in 2025, with the\ndecrease due to lower personnel expense, share-based compensation expense, and\nexternal expenses associated with legacy small molecule ion channel programs.\nGeneral and administrative expense was $6.6 million for the first quarter of\n2026, compared with $7.9 million for the same period in 2025, with the\ndecrease primarily due to lower personnel expense, share-based compensation\nexpense, and legal fees.\n\nAmortization of intangibles increased to $6.0 million for the first quarter of\n2026, compared with $3.2 million for the same period in 2025, primarily due to\na $2.9 million non-cash impairment related to the discontinuation of certain\nlegacy small-molecule ion channel programs.\n\nTotal costs and operating expenses were $22.3 million for the first quarter of\n2026, compared with $23.0 million for the same period in 2025. Cash costs and\noperating expenses were $12.3 million for the first quarter of 2026, compared\nwith $14.7 million for the same period in 2025 (see note regarding \"Use of\nNon-GAAP Financial Measure\" below for further discussion of this non-GAAP\nmeasure).\n\nNet loss for the first quarter of 2026 was $7.7 million, or $0.06 per share,\ncompared with a net loss of $18.2 million, or $0.17 per share, for the same\nperiod in 2025.\n\n2026 Financial Guidance\n\nOmniAb revises 2026 financial guidance and now expects revenue to be in the\nrange of $28 million to $33 million, versus $25 million to $30 million\npreviously, and costs and operating expenses to be in the range of $83 million\nto $88 million, versus $80 million to $85 million previously. Cash costs and\noperating expenses remain unchanged and are expected to be in the range of $50\nmillion to $55 million (see note regarding \"Use of Non-GAAP Financial Measure\"\nbelow for further discussion of this non-GAAP measure). The Company now\nexpects to end the year with cash and cash equivalents in the range of $33\nmillion to $38 million, versus $30 million to $35 million previously. The\nfull-year 2026 effective tax rate is expected to be approximately 0%.\n\nFirst Quarter 2026 and Recent Business Highlights\n\nDuring the first quarter of 2026, OmniAb entered into a new license agreement\nwith Florida State University. As of March 31, 2026, the Company had 107\nactive partners and 409 active programs, including 32 OmniAb-derived programs\nin clinical development or being commercialized.\n\nBusiness and partner highlights from the first quarter of 2026 and recent\nweeks included the following:\n\nIMVT-1402 & batoclimab\n\n\n * The potentially registrational trial with IMVT-1402 in difficult-to-treat\nrheumatoid arthritis is fully enrolled, with topline data expected in the\nsecond half of this year. Topline data from the proof-of-concept trial with\nIMVT-1402 in cutaneous lupus erythematosus is also expected in the second half\nof this year.\n\n * Potentially registrational studies with IMVT-1402 in Graves’ disease (GD),\nmyasthenia gravis (MG), chronic inflammatory demyelinating polyneuropathy and\nSjögren’s disease remain on track with topline data in GD and MG expected\nin 2027.\n\n * Immunovant announced topline data from its two Phase 3 studies evaluating\nbatoclimab as a treatment for active, moderate-to-severe thyroid eye disease\nand intends to review future plans for the development of batoclimab with its\npartner HanAll Biopharma Co. Immunovant remains focused on rapidly advancing\nthe clinical development of IMVT-1402.\n\nTEV- '408\n\n\n * Teva Pharmaceuticals announced a funding agreement with Royalty Pharma of up\nto $500 million to accelerate the clinical development of Teva’s anti-IL-15\nantibody TEV-'408 for vitiligo.\n\n * Topline results of the Phase 1b trial evaluating TEV-'408 for vitiligo are\nexpected in the first half of this year. Topline results of the Phase 2a trial\nevaluating TEV-'408 for celiac disease are expected in the second half of this\nyear.\n\nPrecemtabart tocentecan (M9140)\n\n\n * At the American Society of Clinical Oncology (ASCO) Gastrointestinal Cancers\nSymposium, pooled data on precemtabart tocentecan, a novel anti‑CEACAM5\nantibody‑drug conjugate with a topoisomerase 1 inhibitor payload, from the\nPROCEADE-CRC-01 study in patients with metastatic colorectal cancer were\npresented that showed an objective response rate of 26.8% and median\nprogression-free survival of 6.9 months. The overall safety profile was\nconsistent with earlier data with no new or unexpected treatment-emergent\nadverse events.\n\n * Merck KGaA indicated that based on Phase 1 data, it plans to advance\nprecemtabart tocentecan directly to Phase 3 trials in metastatic colorectal\ncancer, with study initiation anticipated in the second or third quarter of\n2026.\n\nOmniAb expects that multiple partner programs will be highlighted at the ASCO\nAnnual Meeting taking place May 29 - June 2, 2026.\n\nConference Call and Webcast\n\nOmniAb management will host a conference call with accompanying slides today\nbeginning at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss this\nannouncement and answer questions. To participate via telephone, please dial\n(833) 461-5787 using the conference ID 563758100. Slides, as well as the live\nand replay webcast, are available at\nhttps://investors.omniab.com/investors/events-and-presentations/default.aspx\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Finvestors.omniab.com%2Finvestors%2Fevents-and-presentations%2Fdefault.aspx&esheet=54531095&newsitemid=20260507498483&lan=en-US&anchor=https%3A%2F%2Finvestors.omniab.com%2Finvestors%2Fevents-and-presentations%2Fdefault.aspx&index=1&md5=14b0276f5e4fbc618910a6c62ba96751)\n.\n\nAbout OmniAb(®)\n\nOmniAb licenses cutting-edge discovery research technology to pharmaceutical\nand biotech companies and academic institutions to enable the discovery of\nnext-generation therapeutics. Our technology platform creates and screens\ndiverse antibody repertoires and is designed to quickly identify optimal\nantibodies and other target-binding proteins for our partners’ drug\ndevelopment efforts. At the heart of the OmniAb platform is what we call\nBiological Intelligence(™), which powers the immune systems of our\nproprietary, engineered transgenic animals to create optimized antibody\ncandidates for human therapeutics. We believe the OmniAb animals comprise the\nmost diverse host systems available in the industry. Our suite of technologies\nand methods, including computational antigen design and immunization methods,\npaired with high-throughput single B-cell phenotypic screening and mining of\nnext-generation sequencing datasets with custom algorithms, are used to\nidentify fully-human antibodies with exceptional performance and\ndevelopability characteristics. We provide our partners both integrated\nend-to-end capabilities and highly customizable offerings, which address\ncritical industry challenges and provide optimized discovery solutions. Our\nbusiness model aligns scientific and economic interests of our partners\nthrough structured agreements that generally include upfront/access fees,\nservice revenue, milestones and royalties on commercial sales.\n\nFor more information, please visit www.omniab.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.omniab.com&esheet=54531095&newsitemid=20260507498483&lan=en-US&anchor=www.omniab.com&index=2&md5=5835b4206ecde0e74e011b2edc98ce11)\n.\n\nForward-Looking Statements\n\nOmniAb cautions you that statements contained in this press release regarding\nmatters that are not historical facts are forward-looking statements. Words\nsuch as “may,” “will,” “should,” “expect,” “plan,”\n“anticipate,” “could,” “intend,” “target,” “project,”\n“contemplates,” “believes,” “estimates,” “predicts,”\n“potential” or “continue” and similar expressions, are intended to\nidentify forward-looking statements. The forward-looking statements are based\non our current beliefs and expectations and include, but are not limited to:\nstatements regarding the value of our portfolio and growth prospects of our\nbusiness; the ability to add new partners and programs; the ability to\nmaintain a disciplined cost structure; continuation of our innovation efforts\nand the expected value and performance of our technologies and the\nopportunities they may create, including OmniUltra; potential contributions to\nour business by our xPloration partner access program; scientific\npresentations and clinical and regulatory events of our partners and the\ntiming thereof and their perspectives on and expectations for their product\ncandidates; and our 2026 financial guidance. Actual results may differ from\nthose set forth in this press release due to the risks and uncertainties\ninherent in our business, including, without limitation: our future operating\nresults and success is dependent on acceptance of our technology platform and\ntechnologies by new and existing partners, as well as on the eventual\ndevelopment, approval and commercialization of products developed by our\npartners for which we have no control over the development plan, regulatory\nstrategy or commercialization efforts; biopharmaceutical development is\ninherently uncertain; risks arising from changes in technology; the\ncompetitive environment in the life sciences and biotechnology platform\nmarket; risks associated with quality and timing in manufacturing our\nxPloration instruments and related consumables and our reliance on a limited\nnumber of third-party manufacturers and suppliers; our failure to maintain,\nprotect and defend our intellectual property rights; difficulties with\nperformance of third parties we will rely on for our business; government\nhealthcare reform, legislative measures and regulatory developments in the\nUnited States and foreign countries; unstable market and economic conditions\nmay have serious adverse consequences on our business, financial condition and\nstock price; the potential impact of tariffs, trade policies, geopolitical\ninstability and conflicts, inflation and interest rate changes; we may not\nachieve our financial guidance; our operating expenses may be higher than we\nanticipate, including if we decide to engage in activities not currently in\nour plan or if we face unexpected, or higher than anticipated, expenses; we\nmay use our capital resources sooner than we expect; and other risks described\nin our prior press releases and filings with the SEC, including under the\nheading “Risk Factors” in our annual report on Form 10-K and any\nsubsequent filings with the SEC. You are cautioned not to place undue reliance\non these forward-looking statements, which speak only as of the date hereof,\nand we undertake no obligation to update such statements to reflect events\nthat occur or circumstances that exist after the date hereof. All\nforward-looking statements are qualified in their entirety by this cautionary\nstatement, which is made under the safe harbor provisions of the Private\nSecurities Litigation Reform Act of 1995.\n\nPartner Information\n\nThe information in this press release regarding partnered products and\nprograms comes from information publicly released by our partners.\n\nNote Regarding Use of Non-GAAP Financial Measure\n\nThis press release includes financial results prepared in accordance with\naccounting principles generally accepted in the United States (GAAP), and also\nactual and projected cash costs and operating expenses, which is a non-GAAP\nfinancial measure, adjusted to exclude share-based compensation, depreciation\nand amortization of intangibles. Non-GAAP financial measures are not an\nalternative for financial measures prepared in accordance with GAAP. However,\nOmniAb believes the presentation of actual and projected non-GAAP cash costs\nand operating expenses, when viewed in conjunction with GAAP figures, provides\ninvestors with a more meaningful understanding of our operating performance.\nCash costs and operating expense is not intended to be considered in isolation\nor as a substitute for costs and operating expenses. A reconciliation between\nactual and projected GAAP costs and operating expenses and non-GAAP costs and\noperating expenses is provided later in this press release.\n\n[Tables Follow]\n OMNIAB, INC. \n \n \n \nCONDENSED CONSOLIDATED BALANCE SHEETS \n \n \n \n(in thousands, except share and per share data) \n   \n   March 31, 2026   December 31, 2025 \n   (Unaudited)     \n ASSETS       \n Current assets:       \n Cash and cash equivalents $ 29,046     $ 25,524   \n Short-term investments   20,026       28,501   \n Accounts receivable, net   12,639       7,390   \n Prepaid expenses and other current assets   3,414       3,926   \n Total current assets   65,125       65,341   \n Intangible assets, net   119,121       125,149   \n Goodwill   83,979       83,979   \n Property and equipment, net   9,021       9,428   \n Operating lease right-of-use assets   15,049       15,545   \n Restricted cash   560       560   \n Other long-term assets   795       912   \n Total assets $ 293,650     $ 300,914   \n LIABILITIES AND STOCKHOLDERS’ EQUITY       \n Current liabilities:       \n Accounts payable $ 1,652     $ 1,879   \n Accrued expenses and other current liabilities   4,031       6,291   \n Current contingent liabilities   1,002       1,044   \n Current deferred revenue   2,941       3,161   \n Current operating lease liabilities   3,940       3,879   \n Total current liabilities   13,566       16,254   \n Long-term contingent liabilities   37       315   \n Deferred income taxes, net   1,227       785   \n Long-term operating lease liabilities   15,730       16,455   \n Long-term deferred revenue   369       —   \n Other long-term liabilities   75       78   \n Total liabilities   31,004       33,887   \n Stockholders' equity:       \n Preferred stock, $0.0001 par value; 100,000,000 shares authorized at March 31,   —       —   \n 2026 and December 31, 2025; no shares issued and outstanding at March 31, 2026 \n and December 31, 2025 \n Common stock, $0.0001 par value; 1,000,000,000 shares authorized at March 31,   14       14   \n 2026 and December 31, 2025; 144,783,813 and 144,308,383 shares issued and \n outstanding at March 31, 2026 and December 31, 2025, respectively \n Additional paid-in capital   436,520       433,180   \n Accumulated other comprehensive income (loss)   (2 )     12   \n Accumulated deficit   (173,886 )     (166,179 ) \n Total stockholders’ equity   262,646       267,027   \n Total liabilities and stockholders’ equity $ 293,650     $ 300,914   \n\n   \n OMNIAB, INC. \n \n \n \nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS \n \n \n \n(Unaudited) \n \n \n \n(in thousands, except per share data) \n   \n   Three Months Ended March 31, \n     2026       2025   \n Revenue:       \n License and milestone revenue $ 12,025     $ 2,021   \n Service revenue   2,107       1,903   \n xPloration revenue   54       42   \n Royalty revenue   241       188   \n Total revenue   14,427       4,154   \n Costs and operating expenses:       \n Cost of xPloration revenue   15       3   \n Research and development   9,640       12,602   \n General and administrative   6,619       7,915   \n Amortization of intangibles   6,028       3,228   \n Other operating income, net   (46 )     (750 ) \n Total costs and operating expenses   22,256       22,998   \n Loss from operations   (7,829 )     (18,844 ) \n Other income (expense), net:       \n Interest income   487       537   \n Other income, net   77       1   \n Total other income, net   564       538   \n Loss before income taxes   (7,265 )     (18,306 ) \n Income tax (expense) benefit   (442 )     106   \n Net loss $ (7,707 )   $ (18,200 ) \n         \n Net loss per share, basic and diluted $ (0.06 )   $ (0.17 ) \n         \n Weighted-average shares outstanding, basic and diluted   128,245       105,622   \n\n   \n OMNIAB, INC. \n \n \n \nRECONCILIATION OF GAAP COSTS AND OPERATING EXPENSES TO NON-GAAP CASH COSTS AND \n OPERATING EXPENSES \n   \n   Three Months Ended March 31, \n (in thousands) 2026   2025 \n Costs and operating expenses (GAAP) $ 22,256   $ 22,998 \n Less: Depreciation of property and equipment   606     966 \n Less: Amortization of intangible assets   6,028     3,228 \n Less: Share-based compensation   3,340     4,144 \n Cash costs and operating expenses (Non-GAAP) $ 12,282   $ 14,660 \n\n (in millions) 2026 Forecast \n Costs and operating expenses (GAAP) $83 to $88 \n Less: Depreciation and amortization 18 \n Less: Share-based compensation 15 \n Cash costs and operating expenses (Non-GAAP) $50 to $55 \n\n\n \n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260507498483/en/\n(https://www.businesswire.com/news/home/20260507498483/en/)\n\nOmniAb, Inc.\n\ninvestors@OmniAb.com \n(mailto:investors@OmniAb.com) \nX @OmniAbTech\n\n\n\nAlliance Advisors IR\n\nYvonne Briggs\n\nybriggs@allianceadvisors.com \n(mailto:ybriggs@allianceadvisors.com) \n(310) 691-7100\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw5Zq9h9a","title":"OmniAb Reports First Quarter 2026 Financial Results and Business Highlights","author":"Business Wire","ticker":"OABI","created":"2026-05-07T20:05:00.572Z","tickers":["OABI"],"exchange":"NASDAQ","article_body":"OmniAb Reports First Quarter 2026 Financial Results and Business Highlights\n\nConference Call Begins at 4:30 p.m. Eastern Time Today\n\nOmniAb, Inc. (NASDAQ: OABI) today reported financial results for the three\nmonths ended March 31, 2026, provided operating and partner program updates,\nand increased 2026 financial guidance.\n\n“OmniAb experienced strong momentum during the first quarter as multiple\npartnered programs advanced into later-stage clinical development, reinforcing\nthe diversity and value of our portfolio. With a very strong start to the\nyear, we are raising our 2026 revenue guidance,” stated Matt Foehr, Chief\nExecutive Officer of OmniAb. “Continued progression of partner programs\nhighlights the value of our technology platform and positions our business\nwell for the future. Our innovation efforts continue to differentiate our\nplatform as demonstrated by the launch of OmniUltra(™) and our\nxPloration(®) partner access program.”\n\nFirst Quarter 2026 Financial Results\n\nRevenue for the first quarter of 2026 was $14.4 million, compared with $4.2\nmillion for the same period in 2025, with the increase primarily related to\nmilestone revenue.\n\nResearch and development expense was $9.6 million for the first quarter of\n2026, compared with $12.6 million for the same period in 2025, with the\ndecrease due to lower personnel expense, share-based compensation expense, and\nexternal expenses associated with legacy small molecule ion channel programs.\nGeneral and administrative expense was $6.6 million for the first quarter of\n2026, compared with $7.9 million for the same period in 2025, with the\ndecrease primarily due to lower personnel expense, share-based compensation\nexpense, and legal fees.\n\nAmortization of intangibles increased to $6.0 million for the first quarter of\n2026, compared with $3.2 million for the same period in 2025, primarily due to\na $2.9 million non-cash impairment related to the discontinuation of certain\nlegacy small-molecule ion channel programs.\n\nTotal costs and operating expenses were $22.3 million for the first quarter of\n2026, compared with $23.0 million for the same period in 2025. Cash costs and\noperating expenses were $12.3 million for the first quarter of 2026, compared\nwith $14.7 million for the same period in 2025 (see note regarding \"Use of\nNon-GAAP Financial Measure\" below for further discussion of this non-GAAP\nmeasure).\n\nNet loss for the first quarter of 2026 was $7.7 million, or $0.06 per share,\ncompared with a net loss of $18.2 million, or $0.17 per share, for the same\nperiod in 2025.\n\n2026 Financial Guidance\n\nOmniAb revises 2026 financial guidance and now expects revenue to be in the\nrange of $28 million to $33 million, versus $25 million to $30 million\npreviously, and costs and operating expenses to be in the range of $83 million\nto $88 million, versus $80 million to $85 million previously. Cash costs and\noperating expenses remain unchanged and are expected to be in the range of $50\nmillion to $55 million (see note regarding \"Use of Non-GAAP Financial Measure\"\nbelow for further discussion of this non-GAAP measure). The Company now\nexpects to end the year with cash and cash equivalents in the range of $33\nmillion to $38 million, versus $30 million to $35 million previously. The\nfull-year 2026 effective tax rate is expected to be approximately 0%.\n\nFirst Quarter 2026 and Recent Business Highlights\n\nDuring the first quarter of 2026, OmniAb entered into a new license agreement\nwith Florida State University. As of March 31, 2026, the Company had 107\nactive partners and 409 active programs, including 32 OmniAb-derived programs\nin clinical development or being commercialized.\n\nBusiness and partner highlights from the first quarter of 2026 and recent\nweeks included the following:\n\nIMVT-1402 & batoclimab\n\n\n * The potentially registrational trial with IMVT-1402 in difficult-to-treat\nrheumatoid arthritis is fully enrolled, with topline data expected in the\nsecond half of this year. Topline data from the proof-of-concept trial with\nIMVT-1402 in cutaneous lupus erythematosus is also expected in the second half\nof this year.\n\n * Potentially registrational studies with IMVT-1402 in Graves’ disease (GD),\nmyasthenia gravis (MG), chronic inflammatory demyelinating polyneuropathy and\nSjögren’s disease remain on track with topline data in GD and MG expected\nin 2027.\n\n * Immunovant announced topline data from its two Phase 3 studies evaluating\nbatoclimab as a treatment for active, moderate-to-severe thyroid eye disease\nand intends to review future plans for the development of batoclimab with its\npartner HanAll Biopharma Co. Immunovant remains focused on rapidly advancing\nthe clinical development of IMVT-1402.\n\nTEV- '408\n\n\n * Teva Pharmaceuticals announced a funding agreement with Royalty Pharma of up\nto $500 million to accelerate the clinical development of Teva’s anti-IL-15\nantibody TEV-'408 for vitiligo.\n\n * Topline results of the Phase 1b trial evaluating TEV-'408 for vitiligo are\nexpected in the first half of this year. Topline results of the Phase 2a trial\nevaluating TEV-'408 for celiac disease are expected in the second half of this\nyear.\n\nPrecemtabart tocentecan (M9140)\n\n\n * At the American Society of Clinical Oncology (ASCO) Gastrointestinal Cancers\nSymposium, pooled data on precemtabart tocentecan, a novel anti‑CEACAM5\nantibody‑drug conjugate with a topoisomerase 1 inhibitor payload, from the\nPROCEADE-CRC-01 study in patients with metastatic colorectal cancer were\npresented that showed an objective response rate of 26.8% and median\nprogression-free survival of 6.9 months. The overall safety profile was\nconsistent with earlier data with no new or unexpected treatment-emergent\nadverse events.\n\n * Merck KGaA indicated that based on Phase 1 data, it plans to advance\nprecemtabart tocentecan directly to Phase 3 trials in metastatic colorectal\ncancer, with study initiation anticipated in the second or third quarter of\n2026.\n\nOmniAb expects that multiple partner programs will be highlighted at the ASCO\nAnnual Meeting taking place May 29 - June 2, 2026.\n\nConference Call and Webcast\n\nOmniAb management will host a conference call with accompanying slides today\nbeginning at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss this\nannouncement and answer questions. To participate via telephone, please dial\n(833) 461-5787 using the conference ID 563758100. Slides, as well as the live\nand replay webcast, are available at\nhttps://investors.omniab.com/investors/events-and-presentations/default.aspx\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Finvestors.omniab.com%2Finvestors%2Fevents-and-presentations%2Fdefault.aspx&esheet=54531095&newsitemid=20260507498483&lan=en-US&anchor=https%3A%2F%2Finvestors.omniab.com%2Finvestors%2Fevents-and-presentations%2Fdefault.aspx&index=1&md5=14b0276f5e4fbc618910a6c62ba96751)\n.\n\nAbout OmniAb(®)\n\nOmniAb licenses cutting-edge discovery research technology to pharmaceutical\nand biotech companies and academic institutions to enable the discovery of\nnext-generation therapeutics. Our technology platform creates and screens\ndiverse antibody repertoires and is designed to quickly identify optimal\nantibodies and other target-binding proteins for our partners’ drug\ndevelopment efforts. At the heart of the OmniAb platform is what we call\nBiological Intelligence(™), which powers the immune systems of our\nproprietary, engineered transgenic animals to create optimized antibody\ncandidates for human therapeutics. We believe the OmniAb animals comprise the\nmost diverse host systems available in the industry. Our suite of technologies\nand methods, including computational antigen design and immunization methods,\npaired with high-throughput single B-cell phenotypic screening and mining of\nnext-generation sequencing datasets with custom algorithms, are used to\nidentify fully-human antibodies with exceptional performance and\ndevelopability characteristics. We provide our partners both integrated\nend-to-end capabilities and highly customizable offerings, which address\ncritical industry challenges and provide optimized discovery solutions. Our\nbusiness model aligns scientific and economic interests of our partners\nthrough structured agreements that generally include upfront/access fees,\nservice revenue, milestones and royalties on commercial sales.\n\nFor more information, please visit www.omniab.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.omniab.com&esheet=54531095&newsitemid=20260507498483&lan=en-US&anchor=www.omniab.com&index=2&md5=5835b4206ecde0e74e011b2edc98ce11)\n.\n\nForward-Looking Statements\n\nOmniAb cautions you that statements contained in this press release regarding\nmatters that are not historical facts are forward-looking statements. Words\nsuch as “may,” “will,” “should,” “expect,” “plan,”\n“anticipate,” “could,” “intend,” “target,” “project,”\n“contemplates,” “believes,” “estimates,” “predicts,”\n“potential” or “continue” and similar expressions, are intended to\nidentify forward-looking statements. The forward-looking statements are based\non our current beliefs and expectations and include, but are not limited to:\nstatements regarding the value of our portfolio and growth prospects of our\nbusiness; the ability to add new partners and programs; the ability to\nmaintain a disciplined cost structure; continuation of our innovation efforts\nand the expected value and performance of our technologies and the\nopportunities they may create, including OmniUltra; potential contributions to\nour business by our xPloration partner access program; scientific\npresentations and clinical and regulatory events of our partners and the\ntiming thereof and their perspectives on and expectations for their product\ncandidates; and our 2026 financial guidance. Actual results may differ from\nthose set forth in this press release due to the risks and uncertainties\ninherent in our business, including, without limitation: our future operating\nresults and success is dependent on acceptance of our technology platform and\ntechnologies by new and existing partners, as well as on the eventual\ndevelopment, approval and commercialization of products developed by our\npartners for which we have no control over the development plan, regulatory\nstrategy or commercialization efforts; biopharmaceutical development is\ninherently uncertain; risks arising from changes in technology; the\ncompetitive environment in the life sciences and biotechnology platform\nmarket; risks associated with quality and timing in manufacturing our\nxPloration instruments and related consumables and our reliance on a limited\nnumber of third-party manufacturers and suppliers; our failure to maintain,\nprotect and defend our intellectual property rights; difficulties with\nperformance of third parties we will rely on for our business; government\nhealthcare reform, legislative measures and regulatory developments in the\nUnited States and foreign countries; unstable market and economic conditions\nmay have serious adverse consequences on our business, financial condition and\nstock price; the potential impact of tariffs, trade policies, geopolitical\ninstability and conflicts, inflation and interest rate changes; we may not\nachieve our financial guidance; our operating expenses may be higher than we\nanticipate, including if we decide to engage in activities not currently in\nour plan or if we face unexpected, or higher than anticipated, expenses; we\nmay use our capital resources sooner than we expect; and other risks described\nin our prior press releases and filings with the SEC, including under the\nheading “Risk Factors” in our annual report on Form 10-K and any\nsubsequent filings with the SEC. You are cautioned not to place undue reliance\non these forward-looking statements, which speak only as of the date hereof,\nand we undertake no obligation to update such statements to reflect events\nthat occur or circumstances that exist after the date hereof. All\nforward-looking statements are qualified in their entirety by this cautionary\nstatement, which is made under the safe harbor provisions of the Private\nSecurities Litigation Reform Act of 1995.\n\nPartner Information\n\nThe information in this press release regarding partnered products and\nprograms comes from information publicly released by our partners.\n\nNote Regarding Use of Non-GAAP Financial Measure\n\nThis press release includes financial results prepared in accordance with\naccounting principles generally accepted in the United States (GAAP), and also\nactual and projected cash costs and operating expenses, which is a non-GAAP\nfinancial measure, adjusted to exclude share-based compensation, depreciation\nand amortization of intangibles. Non-GAAP financial measures are not an\nalternative for financial measures prepared in accordance with GAAP. However,\nOmniAb believes the presentation of actual and projected non-GAAP cash costs\nand operating expenses, when viewed in conjunction with GAAP figures, provides\ninvestors with a more meaningful understanding of our operating performance.\nCash costs and operating expense is not intended to be considered in isolation\nor as a substitute for costs and operating expenses. A reconciliation between\nactual and projected GAAP costs and operating expenses and non-GAAP costs and\noperating expenses is provided later in this press release.\n\n[Tables Follow]\n OMNIAB, INC. \n \n \n \nCONDENSED CONSOLIDATED BALANCE SHEETS \n \n \n \n(in thousands, except share and per share data) \n   \n   March 31, 2026   December 31, 2025 \n   (Unaudited)     \n ASSETS       \n Current assets:       \n Cash and cash equivalents $ 29,046     $ 25,524   \n Short-term investments   20,026       28,501   \n Accounts receivable, net   12,639       7,390   \n Prepaid expenses and other current assets   3,414       3,926   \n Total current assets   65,125       65,341   \n Intangible assets, net   119,121       125,149   \n Goodwill   83,979       83,979   \n Property and equipment, net   9,021       9,428   \n Operating lease right-of-use assets   15,049       15,545   \n Restricted cash   560       560   \n Other long-term assets   795       912   \n Total assets $ 293,650     $ 300,914   \n LIABILITIES AND STOCKHOLDERS’ EQUITY       \n Current liabilities:       \n Accounts payable $ 1,652     $ 1,879   \n Accrued expenses and other current liabilities   4,031       6,291   \n Current contingent liabilities   1,002       1,044   \n Current deferred revenue   2,941       3,161   \n Current operating lease liabilities   3,940       3,879   \n Total current liabilities   13,566       16,254   \n Long-term contingent liabilities   37       315   \n Deferred income taxes, net   1,227       785   \n Long-term operating lease liabilities   15,730       16,455   \n Long-term deferred revenue   369       —   \n Other long-term liabilities   75       78   \n Total liabilities   31,004       33,887   \n Stockholders' equity:       \n Preferred stock, $0.0001 par value; 100,000,000 shares authorized at March 31,   —       —   \n 2026 and December 31, 2025; no shares issued and outstanding at March 31, 2026 \n and December 31, 2025 \n Common stock, $0.0001 par value; 1,000,000,000 shares authorized at March 31,   14       14   \n 2026 and December 31, 2025; 144,783,813 and 144,308,383 shares issued and \n outstanding at March 31, 2026 and December 31, 2025, respectively \n Additional paid-in capital   436,520       433,180   \n Accumulated other comprehensive income (loss)   (2 )     12   \n Accumulated deficit   (173,886 )     (166,179 ) \n Total stockholders’ equity   262,646       267,027   \n Total liabilities and stockholders’ equity $ 293,650     $ 300,914   \n\n   \n OMNIAB, INC. \n \n \n \nCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS \n \n \n \n(Unaudited) \n \n \n \n(in thousands, except per share data) \n   \n   Three Months Ended March 31, \n     2026       2025   \n Revenue:       \n License and milestone revenue $ 12,025     $ 2,021   \n Service revenue   2,107       1,903   \n xPloration revenue   54       42   \n Royalty revenue   241       188   \n Total revenue   14,427       4,154   \n Costs and operating expenses:       \n Cost of xPloration revenue   15       3   \n Research and development   9,640       12,602   \n General and administrative   6,619       7,915   \n Amortization of intangibles   6,028       3,228   \n Other operating income, net   (46 )     (750 ) \n Total costs and operating expenses   22,256       22,998   \n Loss from operations   (7,829 )     (18,844 ) \n Other income (expense), net:       \n Interest income   487       537   \n Other income, net   77       1   \n Total other income, net   564       538   \n Loss before income taxes   (7,265 )     (18,306 ) \n Income tax (expense) benefit   (442 )     106   \n Net loss $ (7,707 )   $ (18,200 ) \n         \n Net loss per share, basic and diluted $ (0.06 )   $ (0.17 ) \n         \n Weighted-average shares outstanding, basic and diluted   128,245       105,622   \n\n   \n OMNIAB, INC. \n \n \n \nRECONCILIATION OF GAAP COSTS AND OPERATING EXPENSES TO NON-GAAP CASH COSTS AND \n OPERATING EXPENSES \n   \n   Three Months Ended March 31, \n (in thousands) 2026   2025 \n Costs and operating expenses (GAAP) $ 22,256   $ 22,998 \n Less: Depreciation of property and equipment   606     966 \n Less: Amortization of intangible assets   6,028     3,228 \n Less: Share-based compensation   3,340     4,144 \n Cash costs and operating expenses (Non-GAAP) $ 12,282   $ 14,660 \n\n (in millions) 2026 Forecast \n Costs and operating expenses (GAAP) $83 to $88 \n Less: Depreciation and amortization 18 \n Less: Share-based compensation 15 \n Cash costs and operating expenses (Non-GAAP) $50 to $55 \n\n\n \n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260507498483/en/\n(https://www.businesswire.com/news/home/20260507498483/en/)\n\nOmniAb, Inc.\n\ninvestors@OmniAb.com \n(mailto:investors@OmniAb.com) \nX @OmniAbTech\n\n\n\nAlliance Advisors IR\n\nYvonne Briggs\n\nybriggs@allianceadvisors.com \n(mailto:ybriggs@allianceadvisors.com) \n(310) 691-7100\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-05-07T20:05:01.695012538Z","server_sent_at_ms":1778184301695},"received_at":"2026-05-07T20:05:01.855Z","source_url":"https://www.businesswire.com/news/home/20260507498483/en/"},"analysis":null,"durationMs":null,"modelName":null}}