OmniAb, Inc. reported its financial results for the third quarter of 2025, revealing a total revenue of $2.24 million, a 46% decrease from $4.17 million in the same period last year. The decline was primarily driven by a significant drop in license and milestone revenue, which fell by 55% to $616,000, and service revenue, which decreased by 52% to $1.19 million. For the nine months ending September 30, 2025, total revenue was $10.29 million, down 34% from $15.59 million in the prior year. The company recorded a net loss of $16.53 million for the quarter, slightly higher than the $16.37 million loss reported in Q3 2024.
In terms of operational metrics, OmniAb had 104 active partners and 399 active programs as of September 30, 2025, reflecting an increase from 91 partners and 363 programs at the end of 2024. The company also reported 32 active clinical programs and three approved products developed by its partners. This growth in partnerships and programs indicates a strengthening market presence, despite the revenue decline.
OmniAb's costs and operating expenses for the third quarter totaled $20.38 million, down 15% from $23.94 million in the previous year. Research and development expenses decreased by 22% to $10.38 million, attributed to lower personnel costs and reduced external expenses related to ion channel programs. General and administrative expenses also saw a slight decline, reflecting cost management efforts. The company’s cash, cash equivalents, and short-term investments stood at $59.5 million as of September 30, 2025, which management believes is sufficient to support operations for at least the next 12 months.
Strategically, OmniAb completed a private placement in August 2025, raising approximately $30 million through the issuance of 21.25 million shares of common stock. This capital infusion is expected to bolster the company's financial position as it continues to invest in research and development and expand its technology platform. The company also maintains an Open Market Sale Agreement that allows it to sell additional shares, providing further flexibility in capital raising.
Looking ahead, OmniAb anticipates continued investment in its technology platform and partnerships, with a focus on driving future revenue growth through milestone payments and royalties from its partners' successful product developments. However, the company acknowledges the inherent uncertainties in drug development timelines and market conditions, which may impact its financial performance in the near term.
About OmniAb, Inc.
OmniAb, Inc. licenses advanced antibody discovery technologies utilizing genetically engineered transgenic animals and AI-driven screening platforms. Its core offerings include diverse fully human antibody repertoires, high-throughput B cell screening, and bispecific antibody platforms. Serving pharmaceutical, biotech, and academic clients worldwide, OmniAb accelerates therapeutic development across multiple modalities, including antibodies, bispecifics, and ion channel targets, leveraging proprietary animal models and computational tools for efficient, high-quality drug candidate identification.
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