Loading...
•
Jun 30, 2023
OmniAb Q2 2023 Earnings Report
Reported financial results for the second quarter of 2023, highlighting advancements in business development and progress across partner programs.
Key Takeaways
OmniAb reported revenue of $6.9 million for the second quarter of 2023, a slight decrease compared to $7.2 million in the same period in 2022. The company's net loss for the quarter was $14.7 million, or $0.15 per share, compared to a net loss of $10.3 million, or $0.12 per share, for the same period in 2022. The company added four new partners and saw progress in partner programs, with two new programs entering the clinic.
Revenue for the second quarter of 2023 was $6.9 million, compared to $7.2 million for the same period in 2022.
Net loss for the second quarter of 2023 was $14.7 million, or $0.15 per share, compared with a net loss of $10.3 million, or $0.12 per share, for the same period in 2022.
Four new license agreements were entered into, including with Merck & Co. and Neurocrine Biosciences Inc.
Programs by OmniAb’s partners continued to progress during the quarter, including two entering the clinic.
Revenue by Segment
Forward Guidance
The Company continues to expect its cash, cash equivalents and short-term investments balance at year-end 2023 to be slightly higher than year-end 2022. Current cash, cash equivalents and short-term investments, along with the cash OmniAb 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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...