Latest news with #OmniAb
Yahoo
6 days ago
- Business
- Yahoo
ASCO25: J&J's trispecific antibody shows 100% response in Phase I multiple myeloma study
Johnson & Johnson (J&J) has unveiled first-in-human data on its trispecific antibody that demonstrates a 100% response rate in a small group of patients with relapsed or refractory multiple myeloma (r/r MM). The initial data from the Phase I trial (NCT05652335) of JNJ-5322 shows that the trispecific antibody led to a 100% overall response rate (ORR) in 27 patients who were naïve to anti-BCMA/-GPRC5D therapies at a median follow-up of 8.2 months. The patients were treated with the proposed Phase II dose of 100mg four times weekly (Q4W). JNJ-5322 simultaneously targets BCMA (B-cell maturation antigen), GPRC5D (G protein coupled receptor family C group 5 member D), and CD3 (cluster of differentiation 3). The drug engages both malignant B cells and T cells, inducing anti-cancer cytotoxicity and T-cell activation, while overcoming tumour heterogeneity. All responders remain in response as of a median 8.5 month follow-up, with a median time to first response of 1.2 months. The Phase I trial, initiated in November 2022, has enrolled 126 patients as of 15 January 2025 with r/r MM previously exposed to proteosome inhibitors, immunomodulatory drugs, and anti-CD3 monoclonal antibodies (mAb). After dose escalation, 36 patients were administered 100mg JNJ-5322 subcutaneously Q4W as the putative recommended Phase II dose. The data was presented at the 2025 American Society of Clinical Oncology (ASCO) conference held in Chicago, Illinois, on 3 June. However, 99% of the collective cohort experienced at least one adverse event (AE), most commonly cytokine release syndrome (59%), while 75% reported infection. In the case of five patients, toxicities proved dose-limiting, and four patients died as a result of AEs. J&J's candidate was granted an orphan drug status to treat r/r MM by the US Food and Drug Administration (FDA) on 27 November 2024. The data presented at ASCO 2025 represent the first clinical insight into the drug's potential. Abstract authors stated, 'first data with JN-5322 suggest a paradigm shift, offering ORRs similar to CAR-Ts (chimeric antigen receptor-Ts) but as an off-the-shelf therapy.' JN-5322 is developed using J&J's antibody discovery platform OmniAb technology. J&J licenced the technology to develop antibodies for multiple myeloma through a partnership with OmniAb's parent company Ligand Pharmaceuticals, which was spun out from Ligand in 2022. "ASCO25: J&J's trispecific antibody shows 100% response in Phase I multiple myeloma study" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
13-05-2025
- Business
- Business Wire
OmniAb Showcases Innovative High-Throughput Single B-cell Screening xPloration
EMERYVILLE, Calif.--(BUSINESS WIRE)-- OmniAb, Inc. (NASDAQ: OABI) today announced its participation in the 21 st Annual PEGS Boston – The Essential Protein & Antibody Engineering Summit underway at the Omni Hotel. Earlier today, the company showcased case studies utilizing xPloration, a high-throughput single B-cell screening platform that harnesses machine learning and computer vision artificial intelligence (AI), in a presentation by Bob Chen, Ph.D., Vice President, Discovery Systems, titled 'xPloration: Simplifying Deep Antibody Mining for Maximum Impact.' 'Thorough mining of primary B-cells from immunized animals presents a major challenge in therapeutic antibody discovery. Traditional methods often restrict antibody diversity and require weeks to complete. In contrast, the xPloration platform processes millions of single B-cells and recovers thousands of antibody variants within hours, achieving impactful results,' said Dr. Chen. 'By enabling deep mining of immunized repertoires with flexible assays, xPloration excels at rare hit selection, large repertoire analysis, and screening for various targets including membrane proteins. It is an integral part of our discovery engine, and our validated workflow for all OmniAb animals ensures precision and efficiency in partner discovery projects.' xPloration boosts the effectiveness of discovery programs by screening 10 times more single cells per day than other spatial separation techniques. Its laser-based recovery process enables the sorting of thousands of live cells through a 'touchless' method. With short instrument run times of approximately 1.5 hours, it allows for the rapid completion of a screening campaign. In addition to enhancing speed, xPloration's fluidics-free system improves reliability and AI-assisted image analysis provides ease-of-use. Building on this, today's presentation illustrated the platform's capabilities across various assay formats, including multiplex cell surface binding and cross-blocking assays. These flexible xPloration assays can unlock the specific antibody profiles partners are looking for. The presentation also demonstrated synergy between OmniAb's animal platforms and xPloration screening to enable deep repertoire mining. Last week, OmniAb launched the Partner Access Program for xPloration, under which current OmniAb partners can purchase the instrument for use within their own laboratories. You can find more details here. For more information about xPloration and the Partner Access Program, please contact OmniAb's business development team at bd@ Dr. Chen's presentation is available on the Scientific Publications section of OmniAb's website. For more information about OmniAb's proprietary technologies, please visit About OmniAb ® OmniAb licenses cutting edge discovery research technology to pharmaceutical and biotech companies and academic institutions to enable the discovery of next-generation therapeutics. Our technology platform creates and screens diverse antibody repertoires and is designed to quickly identify optimal antibodies and other target-binding proteins for our partners' drug development efforts. At the heart of the OmniAb platform is something we call Biological Intelligence™, which powers the immune systems of our proprietary, engineered transgenic animals to create optimized antibody candidates for human therapeutics. We believe the OmniAb animals comprise the most diverse host systems available in the industry. Our suite of technologies and methods, including computational antigen design and immunization methods, paired with high-throughput single B-cell phenotypic screening and mining of next-generation sequencing datasets with custom algorithms, is used to identify fully-human antibodies with exceptional performance and developability characteristics. We provide our partners both integrated end-to-end capabilities and highly customizable offerings, which address critical industry challenges and provide optimized discovery solutions. Our business model aligns scientific and economic interests of our partners through structured agreements that generally include upfront/access fees, service revenue, milestones and royalties on commercial sales. For more information, please visit Forward-Looking Statements OmniAb cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. Words such as 'may,' 'will,' 'should,' 'expect,' 'plan,' 'anticipate,' 'could,' 'intend,' 'target,' 'project,' 'contemplates,' 'believes,' 'estimates,' 'predicts,' 'potential' or continue' and similar expressions, are intended to identify forward-looking statements. The forward-looking statements are based on our current beliefs and expectations and include, but are not limited to: statements regarding our competitive advantage and the growth prospects of our business; the scalability of our business; the expected performance of our technologies and the opportunities and earnings and cash flow accretion they may create, including the xPloration Partner Access Program; the ability to add new partners and programs; scientific presentations and clinical and regulatory events of our partners and the timing thereof; and our 2025 financial guidance. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: our future success is dependent on acceptance of our technology platform and technologies by new and existing partners, as well as on the eventual development, approval and commercialization of products developed by our partners for which we have no control over the development plan, regulatory strategy or commercialization efforts; biopharmaceutical development is inherently uncertain; risks arising from changes in technology; the competitive environment in the life sciences and biotechnology platform market; risks associated with quality and timing in manufacturing our xPloration instruments and related consumables and our reliance on a limited number of third-party manufacturers and suppliers; our failure to maintain, protect and defend our intellectual property rights; difficulties with performance of third parties we will rely on for our business; regulatory developments in the United States and foreign countries; unstable market and economic conditions may have serious adverse consequences on our business, financial condition and stock price; we may use our capital resources sooner than we expect; and other risks described in our prior press releases and filings with the SEC, including under the heading 'Risk Factors' in our annual report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Yahoo
10-05-2025
- Business
- Yahoo
Is OmniAb, Inc. (OABI) the Low Risk High Reward Stock Set to Triple by 2030?
We recently published a list of . In this article, we are going to take a look at where OmniAb, Inc. (NASDAQ:OABI) stands against other low risk high reward stocks set to triple by 2030. The market is getting tough these days with increasing interest rates, tense world politics, and inconsistent economic conditions, and investors are constantly looking for opportunities. As we hit the middle of the decade, people are focusing more on diversifying investments and managing risks. Morgan Stanley's Investment Committee believes investors should avoid passive strategies and big tech stocks. The Committee suggests looking at undervalued opportunities that might give better returns with less risk. The broader market is trading way too high now—over 22 times forward earnings, putting it in the 95th percentile of historical values. In addition to this, the top 10 stocks make up almost 40% of the index, creating a problem where investors just focus on a few companies called the 'Magnificent 7'. Wall Street's predictions for earnings growth in 2025-2026 seem unrealistic, especially with signs of the economy slowing down and profit margins getting squeezed. These dangers, plus the fact that stocks and bonds are both volatile and moving together, show why investors need alternatives other than passive U.S. stocks. President Trump's renewed tariff regime—some as high as 145%—has hurt economic forecasts worldwide and messed up supply chains, as reported by Reuters. Companies like Electrolux, Diageo, and Logitech have already lowered sales forecasts or stopped giving guidance altogether because of tariff impacts. Although countries including India might benefit from changing trade patterns, most global businesses are facing new economic uncertainty. With all these headwinds, many investors are moving to safer assets like high-dividend stocks, preferred securities, and undervalued healthcare and consumer defensive companies. These lower-risk stocks help reduce portfolio swings and can benefit when money flows to safer investments during market downturns. Furthermore, investors are also reflecting this shift, as seen in a recent Barclays survey of 325 hedge fund managers. The survey shows managers handling nearly $9 trillion and growing demand for strategies with minimal exposure to equity markets, some seeking as low as 5% exposure or even zero. Multi-manager hedge funds, algorithmic strategies, and defensive plays are now more popular than traditional approaches. In this complicated environment, finding overlooked, low-risk stocks with strong fundamentals and long-term potential is crucial. These companies operate in resilient sectors and offer both protection against losses and the chance for substantial returns by 2030. To identify the 10 Low Risk High Reward Stocks Set to Triple by 2030, we began by screening publicly traded companies using Finviz, focusing on those with an equity beta below 1.0 to ensure relatively low market risk. We then filtered this subset to include only those stocks with a projected upside potential of over 300%, indicating high return prospects. To further validate investor confidence, we analyzed hedge fund sentiment using Insider Monkey's database, which tracks the holdings of over 1,000 elite hedge funds as of the end of the fourth quarter of 2024. The final list is ranked in ascending order based on the number of hedge funds holding each stock. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A biomedical researcher injecting antibodies into a strain of transgenic animals in a laboratory. Number of Hedge Fund Holders: 21 Potential upside: 300% OmniAb, Inc. (NASDAQ:OABI) is a biotech company that creates tech for antibody discovery targeting next-gen medicines. Its platforms include OmniRat, OmniMouse, OmniChicken, OmniTaur, and OmniDeep. These platforms blend biological intelligence with artificial intelligence to develop human therapeutic antibodies through various pharma, biotech, and academia partnerships. On the financial side, OmniAb, Inc. (NASDAQ:OABI) ended 2024 with $59.4 million in cash. Additionally, Q4 revenue jumped to $10.8 million, up from $4.8 million the previous year, thanks to new deals and milestone payments. However, the company lost $62 million for the year, more than 2023's $50.6 million loss. This was partly due to a $3.8 million hit from moving away from small-molecule ion channels. OmniAb expects fewer expenses in 2025, with revenue between $20 million and $25 million. Furthermore, OmniAb, Inc. (NASDAQ:OABI) also saw an increase in partner count, which grew 18% to 91 by the end of 2024. Whereas active programs rose 12% to 362, with 32 programs either in clinical trials or approved. In addition, recent wins include new platform licenses with Incyte and Photinia, clinical trial starts with J&J and Innolake, and progress with Genmab, Teva, and Immunovant. The company also just announced a big partnership with VERAXA Biotech in March to develop a new bispecific antibody-drug conjugate for solid tumors. With diverse partners, advancing clinical programs, and efficient cash management, OmniAb, Inc. (NASDAQ:OABI) is one of the best low risk stocks with long-term potential. Overall, OABI ranks 5th on our list of low risk high reward stocks set to triple by 2030. While we acknowledge the potential of OABI as an investment, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than OABI but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Business Wire
08-05-2025
- Business
- Business Wire
OmniAb Reports First Quarter 2025 Financial Results and Business Highlights
BUSINESS WIRE)-- OmniAb, Inc. (NASDAQ: OABI) today reported financial results for the three months ended March 31, 2025, and provided operating and partner program updates. 'We have started the year with robust deal flow, including both platform and asset-based deals. Our business remains strong as our diversified pipeline of partner programs is progressing with recent and expected new clinical entrants and data readouts,' said Matt Foehr, Chief Executive Officer of OmniAb. 'Today we announced the xPloration® Partner Access Program for OmniAb partners, enhancing the scalability of our technology platforms and creating new business opportunities that we believe will be accretive to both earnings and cash flow in short- and long-term. This initiative furthers our mission to push the frontiers of discovery technologies along with our focus on creating value for our partners and our stakeholders. As we look ahead, our 2025 outlook remains on track with our commitment to running an efficient and leverageable business.' First Quarter 2025 Financial Results Revenue for the first quarter of 2025 was $4.2 million, compared with $3.8 million for the same period in 2024, with the increase primarily due to the recognition of a $1.0 million Phase 1 milestone payment and higher license fees, partially offset by lower service revenue. Research and development expense was $12.6 million for the first quarter of 2025, compared with $14.6 million for the same period in 2024, with the decrease primarily due to lower share-based compensation expense and lower external expenses associated with our small-molecule ion channel programs and technology development. General and administrative expense was $7.9 million for the first quarter of 2025, compared with $8.3 million for the same period in 2024, with the decrease primarily due to lower legal fees and share-based compensation expense. Net loss for the first quarter of 2025 was $18.2 million, or $0.17 per share, compared with a net loss of $19.0 million, or $0.19 per share, for the same period in 2024. As of March 31, 2025, OmniAb had cash, cash equivalents and short-term investments of $43.6 million. 2025 Financial Guidance OmniAb affirms guidance for 2025 revenue to be in the range of $20 million to $25 million, and revises operating expense guidance to be in the range of $85 million to $90 million from the previous range of $90 million to $95 million. In addition, OmniAb continues to expect 2025 cash use to be lower than cash use in 2024. Cash use in 2024 was $38.9 million, excluding the 2024 ATM issuance. The 2025 full year effective tax rate is expected to be approximately 0%. First Quarter 2025 and Recent Business Highlights During the first quarter of 2025, OmniAb entered into three new platform license agreements including the Wyss Institute at Harvard University, Takis Biotech S.r.l. and Orion Corporation. OmniAb entered into a research collaboration and license agreement with Orion Corporation to discover and generate an antibody-based compound for a specific ion-channel target. Under the terms of the agreement, OmniAb will receive an upfront payment of $250,000 and is eligible to receive service payments. OmniAb is also eligible to receive development, regulatory and commercialization milestone payments totaling to over $55 million. OmniAb will receive low- to mid-single digit tiered royalties on net sales, should the program reach commercialization. As of March 31, 2025, the Company had 95 active partners and 378 active programs, including 33 OmniAb-derived programs in clinical development or being commercialized. Post-quarter close, OmniAb entered into an asset-based sale with Angelini Pharma for a small molecule Kv7.2 program. OmniAb will receive an upfront payment of $3 million, and potential milestones of over $170 million and royalties. In addition, OmniAb launched the offering of xPloration to existing partners through a Partner Access Program. xPloration is a high-throughput single B-cell screening instrument that leverages machine learning and artificial intelligence to address challenges in primary B-cell screening with traditional methods, such as limited antibody diversity and lengthy processes. We believe it offers a competitive edge over current market offerings for B-cell screening with unmatched screening throughput, superior hit recovery, exceptional ease-of-use and reliability. OmniAb will showcase xPloration at the 21 st Annual PEGS Boston Summit, taking place May 12-16 at the Omni Boston Hotel at the Seaport. First quarter 2025 and recent partner and business highlights include the following: IMVT-1402 Immunovant announced that potentially registrational trials for IMVT-1402 are currently enrolling patients in four indications: myasthenia gravis (MG), chronic inflammatory demyelinating polyneuropathy (CIDP), Graves' disease (GD) and difficult-to-treat rheumatoid arthritis. A fifth potentially registrational trial for Sjogren's disease is planned to begin in the summer of 2025. Additionally, a proof-of-concept study has been initiated in a sixth indication, cutaneous lupus erythematosus. Batoclimab Immunovant announced positive study results for batoclimab in MG and CIDP. The pivotal study in MG met its primary endpoint, showing a change from baseline in the Myasthenia Gravis Activities of Daily Living score in the acetylcholine receptor antibody positive population at 12 weeks. The 680mg dose arm showed a 5.6-point improvement with a 74% mean immunoglobulin G (IgG) reduction, while the 340mg dose arm showed a 4.7-point improvement with a 64% mean IgG reduction. Initial CIDP results from Period 1, following standard-of-care washout, demonstrated a mean improvement in the adjusted Inflammatory Neuropathy Cause and Treatment (aINCAT) disability score of 1.8 across study arms. An 84% responder rate (with response defined as an aINCAT improvement ≥1) was observed among all patients whose IgG was reduced by ≥70%. In both batoclimab studies, deeper IgG reductions correlated with better clinical outcomes across a range of assessments and timepoints. Immunovant expects to announce additional data for batoclimab in GD, including six-month remission data, this summer. Additionally, top-line results for batoclimab from potentially registrational Phase 3 trials in thyroid eye disease are expected in the second half of 2025. Sugemalimab CStone Pharmaceuticals announced the submission of a Type II variation application to the European Medicines Agency (EMA) for sugemalimab, seeking approval for the treatment of unresectable stage III non-small cell lung cancer (NSCLC) in patients who have not progressed following platinum-based chemoradiotherapy. This is CStone's second regulatory submission for sugemalimab to the EMA, following its 2024 approval for metastatic NSCLC. TEV-53408 Teva Pharmaceuticals initiated a Phase 2 trial of TEV-53408 in adults with celiac disease. The primary efficacy objective is to assess the ability of TEV-53408 to attenuate gluten-induced enteropathy. Additional objectives include the safety assessment of TEV-53408. RNDO- 564 Rondo Therapeutics published preclinical data for RNDO-564, a CD28 x Nectin-4 bispecific antibody for bladder cancer, in the Journal of Immunotherapy of Cancer. In vitro studies demonstrated that RNDO-564 enhanced T-cell activation and cytotoxicity against Nectin-4 positive tumor cells. The antibody demonstrated significant tumor regression in tumor-bearing mouse models, both alone and with an immune checkpoint inhibitor. Favorable pharmacokinetic and tolerability profiles were observed in non-human primates. OmniAb recently appointed Philip J. Gotwals, Ph.D., and Steve Crouse to its Board of Directors. Dr. Gotwals, with 30 years of biopharmaceutical experience in R&D, business development, product development, and therapeutic area strategy, along with Mr. Crouse, who brings over 20 years of expertise in life sciences sales and marketing, product development, business development, and general management, will help advance the Company's strategic initiatives. OmniAb reported that partners presented data on nine OmniAb derived molecules at the American Association for Cancer Research Annual Meeting 2025, held April 25-30. These presentations showcased clinical trial designs, as well as data across various preclinical and clinical studies. The Company also expects that multiple partners will be presenting data from programs developed with OmniAb technology at the American Society of Clinical Oncology Annual Meeting taking place May 30 - June 3, 2025. Conference Call and Webcast OmniAb management will host a conference call with accompanying slides today beginning at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss this announcement and answer questions. To participate via telephone, please dial (800) 549 8228 using the conference ID 96760. Slides, as well as the live and replay webcast of the call, are available at About OmniAb ® OmniAb licenses cutting edge discovery research technology to pharmaceutical and biotech companies and academic institutions to enable the discovery of next-generation therapeutics. Our technology platform creates and screens diverse antibody repertoires and is designed to quickly identify optimal antibodies and other target-binding proteins for our partners' drug development efforts. At the heart of the OmniAb platform is something we call Biological Intelligence™, which powers the immune systems of our proprietary, engineered transgenic animals to create optimized antibody candidates for human therapeutics. We believe the OmniAb animals comprise the most diverse host systems available in the industry. Our suite of technologies and methods, including computational antigen design and immunization methods, paired with high-throughput single B-cell phenotypic screening and mining of next-generation sequencing datasets with custom algorithms, is used to identify fully-human antibodies with exceptional performance and developability characteristics. We provide our partners both integrated end-to-end capabilities and highly customizable offerings, which address critical industry challenges and provide optimized discovery solutions. Our business model aligns scientific and economic interests of our partners through structured agreements that generally include upfront/access fees, service revenue, milestones and royalties on commercial sales. For more information, please visit Forward-Looking Statements OmniAb cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. Words such as 'may,' 'will,' 'should,' 'expect,' 'plan,' 'anticipate,' 'could,' 'intend,' 'target,' 'project,' 'contemplates,' 'believes,' 'estimates,' 'predicts,' 'potential' or continue' and similar expressions, are intended to identify forward-looking statements. The forward-looking statements are based on our current beliefs and expectations and include, but are not limited to: statements regarding our competitive advantage and the growth prospects of our business; the scalability of our business; the expected performance of our technologies and the opportunities and earnings and cash flow accretion they may create, including the xPloration Partner Access Program; the ability to add new partners and programs; scientific presentations and clinical and regulatory events of our partners and the timing thereof; and our 2025 financial guidance. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business, including, without limitation: our future success is dependent on acceptance of our technology platform and technologies by new and existing partners, as well as on the eventual development, approval and commercialization of products developed by our partners for which we have no control over the development plan, regulatory strategy or commercialization efforts; biopharmaceutical development is inherently uncertain; risks arising from changes in technology; the competitive environment in the life sciences and biotechnology platform market; risks associated with quality and timing in manufacturing our xPloration instruments and related consumables and our reliance on a limited number of third-party manufacturers and suppliers; our failure to maintain, protect and defend our intellectual property rights; difficulties with performance of third parties we will rely on for our business; regulatory developments in the United States and foreign countries; unstable market and economic conditions may have serious adverse consequences on our business, financial condition and stock price; we may use our capital resources sooner than we expect; and other risks described in our prior press releases and filings with the SEC, including under the heading 'Risk Factors' in our annual report on Form 10-K and any subsequent filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. [Tables Follow] OMNIAB, INC. (in thousands, except share and per share data) December 31, 2024 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 10,892 $ 27,598 Short-term investments 32,703 31,836 Accounts receivable, net 6,478 5,272 Prepaid expenses and other current assets 3,505 3,432 Total current assets 53,578 68,138 Intangible assets, net 134,833 138,060 Goodwill 83,979 83,979 Property and equipment, net 14,711 15,492 Operating lease right-of-use assets 17,239 17,789 Restricted cash 560 560 Other long-term assets 1,282 1,540 Total assets $ 306,182 $ 325,558 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,933 $ 2,297 Accrued expenses and other current liabilities 3,582 6,141 Current contingent liabilities 353 531 Current deferred revenue 1,726 2,337 Current operating lease liabilities 3,813 3,782 Total current liabilities 11,407 15,088 Long-term contingent liabilities 297 953 Deferred income taxes, net 2,208 2,314 Long-term operating lease liabilities 18,666 19,382 Long-term deferred revenue — 117 Other long-term liabilities 88 86 Total liabilities 32,666 37,940 Stockholders' equity: Preferred stock, $0.0001 par value; 100,000,000 shares authorized at March 31, 2025 and December 31, 2024; no shares issued and outstanding at March 31, 2025 and December 31, 2024 — — Common stock, $0.0001 par value; 1,000,000,000 shares authorized at March 31, 2025 and December 31, 2024; 122,134,941 and 121,599,488 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 12 12 Additional paid-in capital 393,096 388,979 Accumulated other comprehensive income 8 27 Accumulated deficit (119,600 ) (101,400 ) Total stockholders' equity 273,516 287,618 Total liabilities and stockholders' equity $ 306,182 $ 325,558 Expand OMNIAB, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (in thousands, except per share data) Three Months Ended March 31, 2025 2024 Revenue: License and milestone revenue $ 2,021 $ 716 Service revenue 1,945 2,766 Royalty revenue 188 319 Total revenue 4,154 3,801 Operating expenses: Research and development 12,602 14,551 General and administrative 7,915 8,337 Amortization of intangibles 3,228 3,412 Other operating expense (income), net (747 ) 54 Total operating expenses 22,998 26,354 Loss from operations (18,844 ) (22,553 ) Other income (expense), net: Interest income 537 975 Other income, net 1 — Total other income (expense), net 538 975 Loss before income taxes (18,306 ) (21,578 ) Income tax benefit 106 2,617 Net loss $ (18,200 ) $ (18,961 ) Net loss per share, basic and diluted $ (0.17 ) $ (0.19 ) Weighted-average shares outstanding, basic and diluted 105,622 100,755 Expand
Yahoo
06-05-2025
- Business
- Yahoo
Veraxa and OmniAb to develop bispecific ADC tumour programme
Veraxa Biotech has entered a joint discovery partnership with OmniAb tp develop a bispecific antibody drug conjugate (bsADC) programme aimed at solid tumours. The partnership unites OmniAb's transgenic antibody discovery solutions with Veraxa's ADC linker technology and conjugation expertise to propel next-generation therapeutic discovery. Veraxa will commence a novel bsADC programme which addresses two target molecules in cancer medicine. The company will leverage OmniAb's transgenic antibody discovery solutions to procure high-quality human antibody leads, which will undergo natural optimisation via in vivo affinity maturation. Veraxa will then set up the bsADC lead candidate by applying its proprietary linker technology and conjugation approach and will oversee the preclinical validation process. The resulting bsADC programme will be co-owned by both companies, which will share future revenues from the programme's further development, licensing and commercialisation efforts. Veraxa co-founder and CEO Christoph Antz stated: 'This partnership brings together two highly complementary technologies to create a new class of bispecific ADCs. Bispecific ADCs represent a powerful opportunity to address difficult-to-treat solid tumours, and the collaboration fits squarely within our mission to drive innovation through targeted partnerships. 'Strategic collaborations will continue to be a mainstay in Veraxa's pipeline growth strategy, and today's announcement marks the second major initiative within the past six months, following our first radiopharmaceutical alliance late last year.' Veraxa focuses on the discovery and development of antibody-based therapeutics, such as bispecific T cell engagers, bispecific ADCs and other formats. The company is progressing its ADC pipeline and BiTAC (bi-targeted tumour-associated cytotoxicity) formats towards clinical development, leveraging transformative technologies and adhering to quality-by-design principles. In April, Veraxa Biotech announced is set to go public in the US through a merger with Voyager Acquisition Corp, a healthcare special purpose acquisition company. The deal is expected to close in the fourth quarter of 2025. "Veraxa and OmniAb to develop bispecific ADC tumour programme" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand.
