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Sep 30, 2022
OmniAb Q3 2022 Earnings Report
OmniAb's financial results for Q3 2022 were reported, highlighting revenue growth driven by higher royalty revenue and increased expenses due to investments in R&D and preparations for becoming an independent company.
Key Takeaways
OmniAb reported revenue of $6.9 million for the third quarter of 2022, compared to $6.3 million for the same period in 2021. The net loss for the quarter was $12.6 million, compared to a net loss of $7.9 million in 2021.
Revenue increased to $6.9 million, driven by higher royalty revenue from zimberelimab and sugemalimab in China.
Research and development expenses rose to $13.2 million due to investments in facilities, headcount, and technology innovation.
General and administrative expenses increased to $5.6 million due to headcount-related expenditures for becoming an independent company.
Net loss was $12.6 million, compared to a net loss of $7.9 million for the same period in 2021.
Forward Guidance
OmniAb expects its cash and cash generated from operations to fund operations for the foreseeable future.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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