OmniAb raised its annual revenue forecast October 30 while reporting higher third-quarter sales and a smaller net loss.
The company reported quarterly revenue of $4 million, compared with $2.2 million a year earlier. It attributed the increase primarily to services and sales involving its xPloration screening platform.
Net loss narrowed to $15.7 million, or 12 cents per share, from $16.5 million, or 14 cents. Total costs and operating expenses were unchanged at $20.4 million.
OmniAb now expects 2026 revenue of $35 million–$39 million, up from $32 million–$36 million. It lowered its projected costs and operating expenses to $83 million–$87 million from $84 million–$88 million.
Its year-end cash forecast increased to $53 million–$57 million from $49 million–$53 million. Cash, equivalents and short-term investments totaled $64.2 million at September 30.
For the first nine months, revenue increased to $31.8 million from $10.3 million, primarily reflecting milestone revenue. The annual figures remain forecasts; the reported financial results do not establish clinical effectiveness of partner drug candidates.
Sources: OmniAb’s October 30 financial-results announcement, Business Wire through Nasdaq.