OmniAb, Inc. (NASDAQ: OABI) reported financial results for the three and nine months ended September 30, 2026, and provided an update on its business outlook. The company announced it is raising its full-year 2026 revenue and cash guidance based on continued business momentum.
For the third quarter of 2026, revenue was $4.0 million, compared to $2.2 million in the prior year period. The increase was driven by service revenue and xPloration revenue. Research and development expenses for the quarter were $9.6 million, a decrease from $10.4 million in the prior year, attributed to lower personnel and facility costs. General and administrative expenses increased to $7.2 million from $6.8 million, driven by higher external expenses. The company reported a net loss of $15.7 million, or $0.12 per share, for the third quarter of 2026.
For the nine months ended September 30, 2026, revenue totaled $31.8 million, compared to $10.3 million in the prior year period. Net loss for the period was $29.3 million, or $0.23 per share. As of September 30, 2026, OmniAb had cash, cash equivalents, and short-term investments of $64.2 million.
OmniAb has updated its 2026 financial guidance. The company now expects revenue to be in the range of $35 million to $39 million, up from the previous range of $32 million to $36 million. Total costs and operating expenses are expected to be between $83 million and $87 million. The company now expects to end the year with cash and cash equivalents in the range of $53 million to $57 million, up from the previous range of $49 million to $53 million. The full-year 2026 effective tax rate is expected to be approximately 0%.
On the business front, OmniAb entered into a new global collaboration and license agreement with Eli Lilly and Company for an undisclosed ion channel program. The company also announced the expansion of commercial access to its xPloration platform, making the AI-powered platform available for purchase by all customers beginning in October 2026. Additionally, OmniAb introduced OmniTides, a new peptide discovery offering powered by the OmniUltra transgenic chicken platform.
Partner program highlights include positive topline results from a Phase 2a study of TEV-’408, an anti-interleukin-15 monoclonal antibody, in adults with celiac disease. The study met its primary endpoint, demonstrating prevention of gluten-induced intestinal damage. In other news, the National Medical Products Administration (NMPA) of China approved batoclimab injection for the treatment of generalized myasthenia gravis.
