OmniAb Q3 2022 revenue $6.9M, net loss $12.6M; completed spin-off from Ligand

OmniAb, Inc.

2023-Q3 EPS reported -$0.35 revenue$23,732,000

Revenue $6.9M in Q3 2022 vs $6.3M in Q3 2021; net loss $12.6M vs $7.9M.
Completed tax-free spin-off from Ligand and merger with Avista on Nov 1, 2022; net cash ~$96M.
68 active partners; 25 OmniAb-derived programs in clinic/commercial; 282 partner programs.
Janssen received FDA and EU approval for TECVAYLI; OmniAb eligible for up to $35M in milestones.
New platform deals with Dianthus, Hillstream, NGM Bio, TriPhase, Talem, and a stealth biotech.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OmniAb, Inc. reported the nine months ended September 30, 2022 results: revenue $23.7 million, net income $29.2 million.

Period: the nine months ended September 30, 2022
Revenue: $23.7 million
Net income: $29.2 million
Result: reported results

Exact text from the filing

Revenue for the nine months ended September 30, 2022 was $23.7 million, compared with $19.5 million for the same period in 2021, with the increase driven by higher milestone revenue, higher royalty revenue due to the launch of zimberelimab and sugemalimab in China and additional collaboration revenue. Research and development expense was $35.4 million for the nine months ended September 30, 2022, compared with $28.2 million for the same period of 2021, with the increase primarily due to continued investment in facilities and headcount. General and administrative expense was $14.7 million for the nine months ended September 30, 2022, compared with $12.6 million for the same period in 2021, with the increase primarily due to the spin-off and business combination, as well as headcount-related expenditures. Net loss for the nine months ended September 30, 2022 was $29.2 million, compared with net loss of $24.0 million for the same period in 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OmniAb, Inc. reported the three months ended September 30, 2022 results: revenue $6.9 million, net income $12.6 million.

Period: the three months ended September 30, 2022
Revenue: $6.9 million
Net income: $12.6 million
Result: reported results

Exact text from the filing

Revenue for the third quarter of 2022 was $6.9 million, compared with $6.3 million for the same period in 2021, with the increase primarily driven by higher royalty revenue due to the launch of zimberelimab and sugemalimab in China. Research and development expense was $13.2 million for the third quarter of 2022, compared with $9.9 million for the same period in 2021, with the increase primarily due to continued investment in facilities, headcount and technology innovation initiatives. General and administrative expense was $5.6 million for the third quarter of 2022, compared with $3.7 million for the same period in 2021, with the increase primarily due to headcount-related expenditures in preparation for becoming an independent publicly traded company. Net loss for the third quarter of 2022 was $12.6 million, compared with a net loss of $7.9 million for the same period in 2021.

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OmniAb, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-285236

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