OmniAb, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 01:06 pm
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OmniAb, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 5.48 million compared to USD 6.91 million a year ago. Net loss was USD 15.74 million compared to USD 12.6 million a year ago. Basic loss per share from continuing operations was USD 0.16 compared to USD 0.15 a year ago.
For the nine months, revenue was USD 29.34 million compared to USD 23.73 million a year ago. Net loss was USD 36.57 million compared to USD 29.15 million a year ago. Basic loss per share from continuing operations was USD 0.37 compared to USD 0.35 a year ago.
OmniAb, Inc. offers a discovery platform that provides pharmaceutical industry partners with access to diverse antibody repertoires and high-throughput screening technologies to enable the discovery of next-generation therapeutics. The OmniAb platform is the biological intelligence (BI) of transgenic animals, including OmniRat, OmniChicken, and OmniMouse, which have been genetically modified to generate antibodies with human sequences to facilitate the development of human therapeutic candidates. The Companyâs OmniFlic (transgenic rat) and OmniClic (transgenic chicken) address industry needs for bispecific antibody applications through a common light chain approach, and OmniTaur features structural attributes of cow antibodies for complex targets. The Company's OmniChicken and OmniClic offer affinity-matured antibodies in an evolutionarily distant chicken host environment, which can deliver a diverse repertoire of antibody panels to conserved therapeutic target antigens.