OmniAb Q1 2023 Earnings Report
Key Takeaways
OmniAb reported a strong start to 2023, with revenue increasing to $16.9 million due to a $10.0 million milestone payment. The company reached 301 active programs, with 27 in clinical development or approved for commercialization.
Revenue for the first quarter of 2023 was $16.9 million, compared to $9.6 million for the same period in 2022.
Net loss for the first quarter of 2023 was $6.1 million, or $0.06 per share, compared to a net loss of $6.3 million, or $0.08 per share, for the same period in 2022.
As of March 31, 2023, OmniAb had cash, cash equivalents and short-term investments of $113.6 million.
The company reached 301 active programs, with 27 in clinical development or approved for commercialization.
OmniAb
OmniAb
OmniAb Revenue by Segment
Forward Guidance
The Company expects its year-end 2023 cash, cash equivalents and short-term investments balance to be slightly higher than year-end 2022. Current cash, cash equivalents and short-term investments, along with the cash the Company generates from operations, are expected to be sufficient to fund operations for the foreseeable future.
Revenue & Expenses
Visualization of income flow from segment revenue to net income