OmniAb, Inc. (OABI) Market Cap
OmniAb, Inc. has a market capitalization of $186.7M.
Financials based on reported quarter end 2025-12-31
Price: $1.64
▲ 0.08 (5.13%)
Market Cap: 186.66M
NASDAQ · time unavailable
CEO: Matthew W. Foehr
Sector: Healthcare
Industry: Biotechnology
IPO Date: 2021-09-30
Website: https://www.omniab.com
OmniAb, Inc. (OABI) - Company Information
Market Cap: 186.66M · Sector: Healthcare
OmniAb, Inc., a biotechnology company, provides therapeutic antibody discovery technologies in the United States. The company's discovery platform provides industry partners access to the diverse antibody repertoires and screening technologies to enable discovery of next-generation therapeutics. Its OmniAb platform is the biological intelligence of proprietary transgenic animals, including OmniRat, OmniChicken, and OmniMouse that have been genetically modified to generate antibodies with human sequences to facilitate development of human therapeutic candidates. The company's OmniFlic (transgenic rat) and OmniClic (transgenic chicken) address industry needs for bispecific antibody applications though a common light chain approach, and OmniTaur that features unique structural attributes of cow antibodies for complex targets. The company was founded in 2012 and is headquartered in Emeryville, California.
Analyst Sentiment
Based on 7 ratings
Analyst 1Y Forecast: $0.00
Average target (based on 1 sources)
Consensus Price Target
Low
$4
Median
$4
High
$4
Average
$4
Potential Upside: 143.9%
Price & Moving Averages
Related Companies in Healthcare
CARTESIAN THERAPEUTICS INC (RNAC)
Healthcare
$0.19B
Mkt Cap
PROTALIX BIOTHERAPEUTICS INC (PLX)
Healthcare
$0.19B
Mkt Cap
TONIX PHARMACEUTICALS HOLDING CORP (TNXP)
Healthcare
$0.19B
Mkt Cap
INOGEN INC (INGN)
Healthcare
$0.19B
Mkt Cap
TUHURA BIOSCIENCES INC (HURA)
Healthcare
$0.19B
Mkt Cap
SANARA MEDTECH INC (SMTI)
Healthcare
$0.19B
Mkt Cap
Management delivered a confident “pipeline traction” story (107 partners/407 programs; OmniUltra and xPloration engagement), but the hard financials remain pressured. Q4 revenue fell to $8.4M from $10.8M, and full-year revenue declined to $18.7M from $26.4M, despite cost control (OpEx down to $87.6M) and a ~$0.8M xPloration contribution. The call’s key operational hinge is commercialization timing with milestone/royalty dependence; Kurt repeatedly stressed lumpiness and tied 2026 revenue ($25M–$30M) to partner-specific clinical/regulatory events rather than macro recovery. In Q&A, analysts probed whether ongoing partner fundraising would slow clinical milestones/new program growth. Management said they saw momentum in 2025 and expect 2026 to benefit from tailwinds from recent technology launches, but did not provide granular revenue breakdown or a breakeven date. xPloration details were concrete (2 instruments deployed by end of 2025) yet the ramp hinges on higher-tier partner budget approvals.
Growth Catalysts
- OmniUltra launch (mid-December 2025) enabling ultra-long CDRH3 on a human framework; management cited early strong partner engagement with 3 partner programs progressing at launch
- xPloration partner access program (launched mid-2025) with strong instrument performance driving interest/demos; positioned for multiple revenue streams (instruments, consumables, subscriptions, maintenance)
- Continued clinical advancement: 1 program reached registration stage during 2025; 4 programs moved preclinical -> Phase I during 2025; 25 advancement/progression events in 2025
Business Development
- New Q4 2025 license agreements: Dana Farber Cancer Institute, Mabtrx Biosciences (JV of Arrowmark Partners and Viking Global Investors), and 2 unnamed global big pharma companies
- Partner base scale: 107 partners running 407 active programs (year-end)
Financial Highlights
- Q4 revenue: $8.4M vs $10.8M in Q4 2024; decline primarily from lower license revenue; partially offset by higher milestone revenue
- Royalty revenue in Q4 up vs prior year due to a reconciliation adjustment to align prior-year royalties to actual product sales
- Q4 operating expenses: $24.1M vs $26.7M prior year quarter (down driven mainly by lower personnel and lower outside service costs for legacy small molecule ion channel programs)
- Q4 noncash impairment charge: $3.9M related to certain small molecule ion channel property/equipment
- Q4 net loss: $14.2M ($0.11/share) vs $13.1M ($0.12/share) prior year quarter
- Effective tax rate ~0% in Q4 due to recording a full valuation allowance against the income tax benefit associated with net loss
- Full-year 2025 revenue: $18.7M vs $26.4M in 2024 (declines tied to license + milestone decreases; service revenue down after completion of small molecule ion channel programs; partially offset by ~$0.8M xPloration revenue)
- Full-year 2025 operating expense: $87.6M vs $100.9M in 2024; workforce reductions of 22 employees implemented in 2025
- Full-year net loss: $64.8M ($0.57/share) vs $62.0M ($0.61/share); management notes EPS would have been $0.54 excluding Q4 impairment
- 2026 guidance: revenue $25M–$30M; operating expense $80M–$85M; cash operating expense $50M–$55M; year-end cash $30M–$35M; effective tax rate ~0%
Capital Funding
- Ended 2025 with $54M cash, cash equivalents, and short-term investments
- Management referenced a capital raise that increased share count in Q3 and Q4
- 2026 year-end cash guidance: $30M–$35M
Strategy & Ops
- Cost discipline plus portfolio cleanup: lower spend on legacy small molecule ion channel programs; impairment recognized in Q4 2025 ($3.9M)
- Workforce reductions: 22 employee cuts in 2025 to generate savings in 2025 and going forward
- xPloration manufacturing approach described as lean: instruments “built kind of to suit” for partner orders; low incremental inventory/inventory investment; limited incremental staffing (instrument is used by internal team)
Market Outlook
- 2026 revenue outlook: $25M–$30M (lumpy milestone-driven revenue reiterated)
- No precise cash-flow breakeven date provided; management indicated confidence in trajectory but declined to give an exact timeframe (risk that it may be beyond 2027 per analyst framing, but company did not commit to 2027 or later)
- Revenue discussion tied to specific partner clinical/regulatory events rather than broad macro recovery
Risks & Headwinds
- Partner budget/fundraising timing risk: management acknowledged a shift starting in the prior year where partners became “winded in sales,” but argued new technology (OmniAb/OmniUltra) is sustaining program starts
- Revenue lumpiness / milestone dependence: management emphasized the revenue line is driven by clinical/regulatory events, creating quarter-to-quarter volatility
- Legacy program headwinds: Q4 outside service cost reductions tied to legacy small molecule ion channel programs; Q4 impairment ($3.9M) highlights ongoing asset-related drag
- xPloration ramp risk framed as sales-cycle/budget approvals for higher-tier partners (longer sales cycles expected)
Sentiment: MIXED
Note: This summary was synthesized by AI from the OABI Q4 2025 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.
Fundamentals Overview
📊 AI Financial Analysis
Powered by StockMarketInfo"OABI reported a revenue of $8.4M for the fiscal year ending December 31, 2025. The company is facing challenges with a net income loss of $14.2M, leading to an EPS of -$0.11. Operating cash flow is negative at -$5.7M, indicating potential liquidity concerns. However, with total assets of $300.9M and minimal liabilities of $33.9M, OABI maintains a strong balance sheet with a healthy equity position of $267M and net debt of -$5.2M, suggesting cash reserves exceeding total debts. Despite these strengths in its balance sheet, the company's revenue generation and profitability remain significant areas of concern. Additionally, performance metrics show the stock has decreased by 34.25% over the past year, with no dividends paid to investors. The current price is $1.67, with a target consensus price of $4, indicating potential upside but coupled with high risks given the negative operating results. Overall, OABI demonstrates mixed signals regarding financial health and shareholder returns."
Revenue Growth
Minimal revenue compared to previous periods, indicating growth challenges.
Profitability
Negative net income and EPS reflect ongoing losses.
Cash Flow Quality
Negative operating cash flow raises liquidity concerns.
Leverage & Balance Sheet
Strong asset position and positive equity, with no significant debt.
Shareholder Returns
Substantial price decline and absence of dividends negatively affect returns.
Analyst Sentiment & Valuation
Upside potential indicated by target price but overshadowed by current performance issues.
Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.