The following is a summary of the OmniAb, Inc. (OABI) Q3 2024 Earnings Call Transcript:

Financial Performance:

• OmniAb reported Q3 total revenue of $4.2 million, a decrease from $5.5 million in the prior year quarter.

• The decrease in revenue was primarily due to lower milestone revenue and ion channel service revenue.

• Operating expenses for Q3 were in line with expectations and are anticipated to be slightly less than total operating expenses in 2023.

• The net loss for the third quarter of 2024 was $16.4 million, or $0.16 per share.

Business Progress:

• OmniAb ended Q3 with 86 active partners and signed three new platform license agreements, including with 92Bio, Memorial Sloan Kettering Cancer Center, and Queen Mary University of London.

• Active programs increased to 352, with 39 new program additions and 12 terminations.

• OmniAb launched its OmnidAb technology and plans to launch OmniHub for bioinformatics tools and antibody discovery at upcoming scientific conferences.

Opportunities:

• Continued growth in partner count reflects strong interest in OmniAb's technology and dedication to innovation and collaboration.

• New programs and technologies, such as the OmnidAb technology for single-domain antibodies and the upcoming OmniHub platform, provide additional revenue and partnership opportunities.

Risks:

• Market forces and industry dynamics are contributing to volatility in OmniAb's business, influencing the timing of revenue recognition from milestones.

• Partner restructuring and pipeline prioritization could impact expected milestone hits and program advancements.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.