The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Michael Almisry - Leerink Partners - Analyst
: You have Michael on for Puneet today. Congrats on the quarter. I was wondering, just given the large step-up in the number of active programs
this quarter, I was wondering if you could give some to how much is from maybe a macro recovery in the biopharma space versus something that
you as a company are doing, maybe gaining share or expanding in certain geographies?
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NOVEMBER 12, 2024 / 9:30PM, OABI.OQ - Q3 2024 OmniAb Inc Earnings Call
Question: Michael Almisry - Leerink Partners - Analyst
: Okay. Great. And then I had a quick question about the OmniHub. I was curious if that's another add-on as part of a standard license or if that's
going to be an additional revenue stream software-wise?
Question: Stephen Willey - Stifel, Nicolaus & Company, Incorporated - Analyst
: So I guess you're talking about how growth in program counts remain strong. You mentioned that multispecifics are an area of considerable growth
for the industry. Do you know what proportion of new program starts you're seeing that are multi-specific in nature? Do you have that level of
insight? And then do you also have any insight into the types of targets that partners are pursuing via these new program starts? I guess I'm just
wondering if you have the ability to assess where each annual cohort of new program starts kind of falls on the risk spectrum?
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NOVEMBER 12, 2024 / 9:30PM, OABI.OQ - Q3 2024 OmniAb Inc Earnings Call
Question: Stephen Willey - Stifel, Nicolaus & Company, Incorporated - Analyst
: Okay. That's helpful. And then I think you may have given this information at some point last year, but do you have any update as to what the
blended royalty rate of the post-discovery program portfolio looks like at this point? And then is there anything that you can say about how the
Immunovant 1402 asset, I guess, compares to that blended royalty rate? I know that that's an asset that is getting a lot of investor attention right
now.
Question: Alexander Xenakis - Truist Securities - Analyst
: This is Alex on for Kripa (technical difficulty) Question from us. We see some of your potential partners rethinking their portfolio, perhaps driven
by economic pressures. And are you seeing more or less partners electing to develop molecules in-house and advance to the IND stage? And maybe
what are your thoughts on that? And is there any impact or can we see the seed of change that might affect your current business model going
forward?
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NOVEMBER 12, 2024 / 9:30PM, OABI.OQ - Q3 2024 OmniAb Inc Earnings Call
Question: Jacqueline Kisa - TD Cowen - Analyst
: This is Jackie on for Brandon. Just to start off, have you done any beta testing for the OmniHub offering prelaunch? And if so, have you seen any
feedback from your customers?
Question: Jacqueline Kisa - TD Cowen - Analyst
: Awesome. That's great. And just to follow up on that. Are you thinking of partnering with any cloud providers? Or are you going to kind of run
things on-prem or on your own side of things?
Question: Jacqueline Kisa - TD Cowen - Analyst
: Awesome. And then if I could just squeeze one more in. On the three new licenses, could you give us any color on the therapeutic interest or
program size expected from these companies and then the mix regarding the platforms they're going to use?
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NOVEMBER 12, 2024 / 9:30PM, OABI.OQ - Q3 2024 OmniAb Inc Earnings Call
Question: Conor Noel McNamara - RBC Capital Markets - Analyst
: I got one for each of you. So Matt, just on a product development standpoint, what are you seeing on the development on single-domain antibodies?
And what are you seeing on the adoption of OmniChicken with customers?
Question: Conor Noel McNamara - RBC Capital Markets - Analyst
: Okay. Great. And then, Kurt, just on the ATM, the amount of money you raised, you raised a little over $11 million. And if I just think about that
coinciding with kind of a, call it, a pushout and what you're expecting from license and milestone revenue. Should we be thinking that, that kind
of $11 million is kind of stuff that might have come before the end of '25 that now maybe you're saying maybe it's going to be pushed out a little
bit just because of program timing? Or, is there any way to kind of separate how much of that is just SafetyNet versus what you see as potential
push out in the later than planned revenue from those sources?
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NOVEMBER 12, 2024 / 9:30PM, OABI.OQ - Q3 2024 OmniAb Inc Earnings Call
Question: Conor Noel McNamara - RBC Capital Markets - Analyst
: Congrats guys on the progression of the business.
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