OmniAb, Inc. Posts Strong Revenue, Narrows Q4 Loss

OmniAb Inc. (OABI) Reports Q4 Loss, Tops Revenue Estimates

OmniAb Inc. (OABI), a biotechnology company focused on developing innovative therapies, reported its fourth-quarter and full-year 2022 financial results, which topped revenue estimates.

The company reported a net loss of $13.3 million, or $0.27 per share, for the fourth quarter, compared to a net loss of $14.4 million, or $0.30 per share, in the same period last year. The adjusted loss per share was $0.25, which beat the Zacks Consensus Estimate of $0.29.

OmniAb's revenue for the quarter was $2.5 million, exceeding the consensus estimate of $2.2 million. The company's total revenue for the full year 2022 was $7.4 million, up 34% from $5.5 million in 2021.

The company's CEO, John McBride, said, "We are pleased with our Q4 results, which demonstrate our ability to execute and deliver on our financial commitments. Our focus on advancing our pipeline and expanding our partnerships positions us for continued growth in 2023 and beyond."

OmniAb's pipeline includes several preclinical and clinical-stage programs targeting various therapeutic areas, including oncology, inflammation, and metabolic disorders. The company has partnered with several leading pharmaceutical companies to develop and commercialize its therapies.

OmniAb's stock has been trading volatile in recent weeks, but the company's Q4 results seem to have boosted investor confidence, with the stock rising over 10% in the past two trading sessions.