OmniAb, Inc. reported significant financial growth in its latest quarterly filing, with total revenue reaching $13.4 million for the three months ended June 30, 2026, a 244% increase from $3.9 million in the same period last year. The surge in revenue was primarily driven by a substantial rise in license and milestone revenue, which increased to $9.5 million from $1.2 million, reflecting a $8.3 million increase in milestone payments. For the first half of 2026, total revenue was $27.8 million, up 246% from $8.1 million in the prior year, with similar trends observed across service and xPloration revenues.
Despite the revenue growth, OmniAb reported a net loss of $5.9 million for the second quarter, a notable improvement from the $15.9 million loss recorded in the same quarter of 2025. The company’s total operating expenses remained relatively stable at $20.1 million, compared to $20.1 million in the prior year. Research and development expenses decreased by 12% to $9.6 million, attributed to lower personnel costs following organizational changes made in 2025. The company’s accumulated deficit increased to $179.7 million as of June 30, 2026, up from $166.2 million at the end of 2025.
Operationally, OmniAb reported having 110 active partners and 425 active programs utilizing its technology platform, which includes 29 antibodies in clinical development and three approved products. The company’s strategic focus on expanding its technology offerings and partnerships appears to be yielding positive results, as evidenced by the increase in active programs from 407 at the end of 2025. The company also noted a significant uptick in royalty revenue, which rose to $0.3 million from $0.1 million, driven by higher net sales from partners' products in China.
Looking ahead, OmniAb maintains a positive outlook, expecting to continue leveraging its technology platform to drive future growth. The company reported cash, cash equivalents, and short-term investments totaling $52 million as of June 30, 2026, which it believes will support operations for at least the next 12 months. OmniAb's management emphasized the importance of achieving revenue growth through successful partner collaborations and the commercialization of therapies developed using its platform, while also acknowledging the inherent uncertainties in drug development timelines and market conditions.
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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