OABI · OmniAb, Inc.

OmniAb's Q1 2026 results showed significant revenue growth to $14.4 million from $4.2 million year-over-year, primarily from milestone revenue as partner programs progressed into later-stage clinical development. CEO Matt Foehr highlighted strong momentum, portfolio diversity, and platform value, leading to raised full-year revenue guidance to $28-33 million from $25-30 million. Operating expenses declined slightly to $22.3 million, with cash costs dropping to $12.3 million due to lower personnel, share-based compensation, and external expenses from discontinued legacy small-molecule programs. Amortization rose to $6.0 million, including a $2.9 million non-cash impairment. Net loss improved to $7.7 million or $0.06 per share from $18.2 million or $0.17 per share. Balance sheet as of March 31, 2026, showed $29.0 million in cash and equivalents, up from year-end 2025. Business highlights included a new license with Florida State University, 107 active partners, 409 programs, and 32 OmniAb-derived in clinic or commercial. Key partner updates: IMVT-1402 trials fully enrolled with data expected H2 2026; Teva's TEV-'408 Phase 1b/2a data imminent; Merck KGaA advancing precemtabart tocentecan to Phase 3. Guidance also raised costs to $83-88 million but kept cash costs at $50-55 million, ending year with $33-38 million cash. These results reinforce platform adoption and position OmniAb for milestone-driven growth.