OmniAb Q3 2022 Earnings Report
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.
OmniAb
OmniAb
Forward Guidance
OmniAb expects its cash and cash generated from operations to fund operations for the foreseeable future.