On March 4, 2026 OmniAb, Inc. (NASDAQ: OABI) reported financial results for the quarter and year ended December 31, 2025, and provided operating and partner program updates.

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"OmniAb exited 2025 with an expanded base of 107 active partners and a growing portfolio of 407 active programs. Our differentiated technologies support our business outlook and allow us to add programs while maintaining a disciplined cost structure. As our partner pipeline continues to advance, several later-stage assets are emerging with potential to generate meaningful milestones and, ultimately, recurring royalty revenue," said Matt Foehr, Chief Executive Officer of OmniAb. "Our focus on innovation was evident in the recent launch of OmniUltra, which strengthens our ability to attract new partners and service new programs. Additionally, we continue to see strong interest in the xPloration partner access program and are excited about its contributions to the business."

Fourth Quarter 2025 Financial Results

Revenue for the fourth quarter of 2025 was $8.4 million, compared with $10.8 million for the same period in 2024, with the decrease primarily related to a decline in license revenue and service revenue, partially offset by an increase in milestone and royalty revenue and the addition of xPloration revenue.

Research and development expense was $13.9 million for the fourth quarter of 2025, compared with $13.3 million for the same period in 2024, with the increase due to a $3.9 million impairment charge primarily related to certain small molecule ion channel property and equipment, partially offset by lower personnel expenses related to reduced headcount and share-based compensation expense, and lower external expenses associated with legacy small molecule ion channel programs. General and administrative expense was $6.8 million for the fourth quarter of 2025, compared with $7.4 million for the same period in 2024, with the decrease primarily due to lower share-based compensation expense.

Net loss for the fourth quarter of 2025 was $14.2 million, or $0.11 per share, compared with a net loss of $13.1 million, or $0.12 per share, for the same period in 2024.

Full Year 2025 Financial Results

Revenue for 2025 was $18.7 million, compared with $26.4 million for 2024. The decline was primarily due to a decrease in license revenue of $2.5 million and milestone revenue of $1.6 million. Service revenue declined as a result of the completion or discontinuation of certain legacy small molecule ion channel programs. These decreases were offset by the addition of $0.8 million in xPloration revenue reflecting the sale of an instrument and related consumables.

Cost of xPloration revenue was $0.3 million for 2025 and consisted of direct costs associated with the sale of the xPloration instrument and associated consumables. Research and development expense was $47.8 million for 2025, compared with $55.1 million for 2024, primarily due to lower personnel expenses related to reduced headcount and share-based compensation expense, lower external expenses associated with legacy small molecule ion channel programs and a decline in contract research costs, partially offset by a $3.9 million impairment charge primarily related to certain small molecule ion channel property and equipment. General and administrative expense was $29.2 million for 2025, compared with $30.7 million for 2024 with the decrease primarily due to lower legal fees and share-based compensation expense. Other operating income, net for 2025 was $2.5 million and reflected a gain of $3.0 million from the sale of a small molecule Kv7.2 program partially offset by a $0.3 million increase in contingent liability expense attributed to changes in certain ion channel programs. Other operating income, net during 2024 was $2.4 million and included a $2.5 million reduction in contingent liabilities primarily attributed to changes in small molecule ion channel programs.

Net loss for 2025 was $64.8 million, or $0.57 per share, compared with a net loss of $62.0 million, or $0.61 per share, for the same period in 2024.

As of December 31, 2025, OmniAb had cash, cash equivalents and short-term investments of $54.0 million.

2026 Financial Guidance

OmniAb expects 2026 revenue to be in the range of $25 million to $30 million, and costs and operating expenses to be in the range of $80 million to $85 million. Cash costs and operating expenses is expected to be in the range of $50 million to $55 million (see note regarding "Use of Non-GAAP Financial Measure" below for further discussion of this non-GAAP measure). The Company expects to end the year with cash and cash equivalents in the range of $30 million to $35 million. The 2026 effective tax rate is expected to be approximately 0%.

Fourth Quarter 2025 and Recent Business Highlights

During the fourth quarter of 2025, OmniAb entered into new license agreements including with Dana Farber Cancer Institute, Mabtrx Biosciences and two global pharmaceutical companies. As of December 31, 2025, the Company had 107 active partners and 407 active programs, including 32 OmniAb-derived programs in clinical development or being commercialized.

In December 2025, the Company launched OmniUltra, the industry’s first and only transgenic chicken engineered to express ultralong CDRH3 domains on a human antibody framework. OmniUltra also enables the isolation of picobodies, the smallest known natural antibody-derived binding domain (4–6 kDa), which are approximately one-third the size of a nanobody. OmniUltra is designed to deliver pre-optimized specificity, affinity and structural stability, streamlining hit-to-lead identification. By generating both antibodies and picobodies, it is ideal for applications such as bispecifics, multispecifics, CAR-T, radioligands and stand-alone peptide therapeutics.

OmniAb and GSK published a paper titled "Voltage sensor interaction site for a selective small molecule Nav1.1 sodium channel potentiator that enhances firing of fast-spiking interneurons" in the October 2025 edition of Molecular Pharmacology. The paper highlights the potential for Nav1.1 as a therapeutic target for seizure disorders.

Business and partner highlights from the fourth quarter of 2025 and recent weeks included the following:

IMVT-1402 & batoclimab

The potentially registrational trial with IMVT-1402 in difficult-to-treat rheumatoid arthritis is fully enrolled, with topline data expected in the second half of this year. Topline data from the proof-of-concept trial with IMVT-1402 in cutaneous lupus erythematosus is also expected in the second half of the year.
Potentially registrational studies with IMVT-1402 in Graves’ disease (GD), myasthenia gravis (MG), chronic inflammatory demyelinating polyneuropathy and Sjögren’s disease remain on track with topline data in each of GD and MG expected in 2027.
Immunovant anticipates sharing topline data from its two Phase 3 studies evaluating batoclimab as a treatment for active, moderate-to-severe thyroid eye disease in the first half of this year.
TEV- ‘408

Topline results of the Phase 1b trial evaluating TEV-‘408 for vitiligo are expected in the first half of this year. Topline results of the Phase 2a trial evaluating TEV-‘408 for celiac disease are expected in the second half of this year.
Teva Pharmaceuticals announced a funding agreement with Royalty Pharma of up to $500 million to accelerate the clinical development of Teva’s anti-IL-15 antibody TEV-‘408 for vitiligo.
Precemtabart tocentecan (M9140)

Merck KGaA indicated that based on Phase 1 data, it plans to advance precemtabart tocentecan, a novel anti‑CEACAM5 antibody‑drug conjugate with topoisomerase 1 inhibitor payload, to Phase 3 trials in metastatic colorectal cancer, with the study initiation anticipated in 2026.
RNDO-564

In December 2025, Rondo Therapeutics announced the first patient was dosed in its Phase 1/1b clinical trial evaluating RNDO-564.
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 62412. Slides, as well as the live and replay webcast, are available at View Source

(Press release, OmniAb, MAR 4, 2026, View Source [SID1234663253])

On March 4, 2026 Verastem presented its corporate presentation.

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(Presentation, Verastem, MAR 4, 2026, View Source [SID1234663252])

On March 4, 2026 TScan Therapeutics, Inc. (Nasdaq: TCRX), a clinical-stage biotechnology company focused on the development of T cell receptor (TCR)-engineered T cell (TCR-T) therapies for the treatment of patients with cancer, reported financial results for the three months and full year ended December 31, 2025, and provided business updates.

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"The regulatory and operational progress we have made over the last several months related to our heme program is exciting. We expect the momentum to continue into the second quarter when we plan to share the initial data from patients enrolled into Cohort C in the ALLOHA study as well as initiate TScan’s first Phase 3 trial," said Gavin MacBeath, Ph.D., Chief Executive Officer. "The data we presented at ASH (Free ASH Whitepaper) in December 2025 continue to support our decision to focus the Company’s efforts on development of therapeutics for patients with heme malignancies. Additionally, the recent FDA clearance of INDs for TSC-102-A01 and TSC-102-A03 will allow us to bring our TCR-T therapies to twice as many patients who currently have limited options in the post-transplant setting."

Recent Corporate Updates: Hematologic Malignancies Program

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In December 2025, the Company presented positive updated data from the ALLOHA Phase 1 heme trial at the 67th American Society of Hematology (ASH) (Free ASH Whitepaper) Annual Meeting and Exposition.

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TSC-101 was well-tolerated with no dose-limiting toxicities observed.
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Treatment arm continues to demonstrate favorable relapse-free survival (HR=0.50; p=0.23) and overall survival (HR=0.61; p=0.52).
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3/3 (100%) of TSC-101-treated patients who reached two-year follow-up remained relapse-free compared to 1/4 (25%) in the control arm.

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In February 2026, the U.S. Food and Drug Administration (FDA) cleared the Company’s investigational new drug (IND) applications for TSC-102-A01 and TSC-102-A03. These TCR-T therapy candidates target CD45, a protein that is broadly expressed in heme cells but absent in non-heme tissues. TSC-102-A01 and TSC-102-A03 are allogeneic, donor-derived TCR-T therapy candidates designed to eliminate residual cancer and prevent relapse in patients with heme malignancies who are undergoing allogeneic hematopoietic cell transplantation (HCT) using either reduced intensity conditioning or myeloablative conditioning. TSC-102-A01 and TSC-102-A03 are designed to treat patients who are HLA-A*01:01- or HLA-A*03:01-positive, respectively, and are paired with donors who are negative for the HLA allele. The Company plans to initiate a Phase 1 study with these candidates in the second half of this year.

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In February 2026, TScan announced completion of enrollment in Cohort C of the Phase 1 ALLOHA trial, where patients are being dosed with TSC-101 manufactured using its commercial-ready manufacturing process.

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In February 2026, the Company presented a poster at the 2026 Transplantation & Cellular Therapy Meetings of ASTCT and CIBMTR (Tandem Meetings). The poster can be found on the "Publications" page of the Company’s website at tscan.com.

Upcoming Anticipated Milestones: Heme Malignancies Program

TScan’s lead TCR-T therapy candidate, TSC-101, is designed to treat residual disease and prevent relapse in patients with heme malignancies undergoing allogeneic HCT (the ALLOHA trial, NCT05473910).

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Share early clinical data on patients treated in Cohort C of the ALLOHA study in the second quarter of 2026.
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Launch pivotal trial for TSC-101 in the second quarter of 2026.
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Share updated data on patients treated in Cohort C of the ALLOHA study in the second half of 2026.
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Initiate Phase 1 study of TSC-102-A01 and TSC-102-A03 in the second half of 2026.

Recent Corporate Updates: Early Pipeline

Solid Tumor Program:
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In November 2025, the Company announced the discontinuation of the PLEXI-T trial. Clinical data on initial patients treated in the study have been disclosed in the Company’s 2025 Form 10-K filed with the Securities and Exchange Commission on March 4, 2026.
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The Company is currently developing methods to engineer TCR-T cells in vivo to treat solid tumors.

Autoimmunity Program:

The Company is leveraging their target discovery platform to identify targets for a set of T-cell-driven autoimmune disorders and is currently developing potential treatment options.
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The Company anticipates sharing preclinical proof-of-concept data for its therapeutic approach in the second half of 2026.

Financial Results

Revenue: Revenue for the fourth quarter of 2025 was $2.6 million, compared to $0.7 million for the fourth quarter of 2024, and $10.3 million for the full-year 2025, compared to $2.8 million for the full-year 2024. The increase in both periods was primarily due to timing of research activities pursuant to the Company’s collaboration agreement with Amgen.

R&D Expenses: Research and development (R&D) expenses for the fourth quarter of 2025 were $20.0 million, compared to $29.4 million for the fourth quarter of 2024, and $114.2 million for the full-year 2025, compared to $107.4 million for the full-year 2024. The year over year increase was primarily driven by increased manufacturing and clinical activities, with the quarter over quarter decrease primarily driven by timing of manufacturing activities, as well as savings in connection with the Company’s previously announced strategy to prioritize the clinical development of its heme program. R&D expenses included non-cash stock compensation expense of $0.9 million and $1.3 million for the fourth quarter of 2025 and 2024, respectively, and $6.0 million and $4.8 million for the full-year 2025 and 2024, respectively.

G&A Expenses: General and administrative (G&A) expenses for the fourth quarter of 2025 were $6.4 million, compared to $8.0 million for the fourth quarter of 2024, and $32.0 million for the full-year 2025, compared to $30.3 million for the full-year 2024. The year-over-year increase was primarily driven by personnel costs to support business activities, with the quarter-over-quarter decrease primarily driven by savings in connection with the Company’s previously announced strategy to prioritize the clinical development of its heme program. G&A expenses included non-cash stock compensation expense of $1.1 million and $1.4 million for the fourth quarter of 2025 and 2024, respectively, and $5.7 million and $4.7 million for the full-year 2025 and 2024, respectively.

Net Loss: Net loss was $23.0 million for the fourth quarter of 2025, compared to $35.8 million for the fourth quarter of 2024, and included net interest income of $0.9 million and $2.0 million, respectively. Net loss for the full-year 2025 was $129.8 million, compared to $127.5 million for the full-year 2024, and included net interest income of $6.0 million and $8.4 million, respectively. Net loss for the fourth quarter of 2024 and full-year 2024 included a $1.1 million loss on extinguishment of debt.

Cash Position: Cash and cash equivalents as of December 31, 2025 were $152.4 million, excluding $5.0 million of restricted cash. The Company believes that its existing cash resources will be sufficient to fund its current operating plan into the second half of 2027.

Share Count: As of December 31, 2025, the Company had 56,901,623 issued and outstanding shares of common stock, consisting of 52,625,035 shares of voting common stock and 4,276,588 shares of non-voting common stock, as well as 73,011,767 outstanding pre-funded warrants to purchase shares of voting common stock at an exercise price of $0.0001 per share. Pro forma outstanding shares, inclusive of both common stock and prefunded warrants, were 129,913,390 as of December 31, 2025.

(Press release, TScan Therapeutics, MAR 4, 2026, View Source [SID1234663251])

On March 4, 2026 Theolytics, a clinical-stage biotechnology company developing next-generation oncolytic immunotherapies, reported that it has been awarded, pending final negotiation, €8 million in non-dilutive grant funding from Horizon Europe 2025, the European Union’s flagship research and innovation funding programme. Horizon Europe 2025 is supporting high-impact clinical-stage projects aimed at improving patient outcomes and strengthening Europe’s scientific leadership. The grant to Theolytics will provide significant financial support to advance the company’s Phase 2 OCTOPOD-IV clinical trial evaluating THEO-260, its novel therapeutic candidate designed to address unmet needs in patients with advanced ovarian cancer.

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Positioned to tackle the complex, immune-suppressed nature of advanced solid tumours, THEO-260 is an oncolytic immunotherapy designed for effective killing of both cancer cells and cancer-associated fibroblasts (CAFs), while inducing immune activation. Platinum-resistant ovarian cancer represents a prototype of a broader category of stroma-rich solid tumours for which THEO-260 is being developed.

Margaret Duffy, CSO and Co-founder of Theolytics, said, "Our collective success with this grant award reflects the extraordinary work being done by the team at Theolytics, and the calibre of our clinical and translational partner centres. The Horizon Europe award validates both the scientific rationale behind our THEO-260 programme and the huge potential of its novel oncolytic and ‘CAF-lytic’ mechanism to address a significant unmet need in stroma-rich solid cancers. By integrating advanced translational analyses into our clinical trial design, we will clinically demonstrate the differentiated mechanism of action of THEO-260 and provide key data to advance this programme and deliver true impact for cancer patients."

This highly competitive Horizon Europe 2025 award follows a rigorous grant review process and highlights the company’s innovative science, strong technical area expertise, clear clinical development plan and the opportunity for THEO-260 to address a clear unmet patient need.

The grant application was coordinated with several major partners, expert clinical and translational centres involved in the OCTOPOD-IV study and includes the Cancer Center Clínica Universidad de Navarra, Catalan Institute of Oncology in Spain; the Princess Margaret Hospital in Toronto, Canada; and The Institute of Cancer Research (ICR) in London, UK. Two thirds of the funds will be received directly by Theolytics to advance the OCTOPOD-IV Phase 2a expansion trial, and the other third will be deployed directly to the partners in support of their work on the trial.

OCTOPOD-IV (NCT06618235) is a first-in-human, multi-centre trial to assess safety, tolerability and preliminary efficacy of THEO-260 in patients with high-grade serous ovarian or endometrioid cancer. In addition, the trial is designed to determine the recommended Phase 2 dose and demonstrate THEO-260’s differentiated cancer/cancer-associated fibroblast-lytic mechanism of action in patients through comprehensive biomarker analysis.

Prof Alan Melcher, Professor of Translational Immunotherapy at The Institute of Cancer Research, London, said, "The differentiated mechanism of action – targeting the stroma and inducing immune activity in the suppressed tumour microenvironment (TME) – of this oncolytic immunotherapy THEO-260 offers the potential to provide an important new treatment option for patients with advanced solid tumours. We are pleased to support the OCTOPOD-IV study, for which the ICR will provide important translational data to assess this novel and promising approach."

Dr Antonio González, Director of the Department of Medical Oncology and Cancer Center at the Clínica Universidad de Navarra, and President of the Spanish Cooperative Group for Gynaecological Cancer Research, added, "We see many women with advanced platinum-resistant ovarian cancer, whose life expectancy is typically only a year or less. There remains a serious lack of effective treatment options for these women, and so we are hopeful that THEO-260 may bring an advance in therapy that will improve and extend the lives of our patients."

Recruitment at UK and Spanish clinical sites for OCTOPOD-IV is ongoing and will now expand into further international centres (including additional sites in Spain and Canada). A second clinical trial (OCTOPOD-IP) in the US, which will investigate intraperitoneal (IP) delivery of THEO-260 to advanced ovarian cancer patients, has also been initiated in collaboration with The University of Texas MD Anderson Cancer Center (NCT07211659).

(Press release, Theolytics, MAR 4, 2026, View Source [SID1234663250])

On March 4, 2026 MannKind Corporation (Nasdaq: MNKD), reported its attendance at two upcoming investor conferences, at which MannKind’s Chief Executive Officer, Michael Castagna, PharmD, and Chief Financial Officer, Chris Prentiss will participate in fireside chats and in 1×1 meetings with investors.

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Leerink Partners 2026 Global Healthcare Conference in Miami
Tuesday, March 10, 3:40 p.m. ET

Barclays 28th Annual Global Healthcare Conference in Miami
Wednesday, March 11, 1:00 p.m. ET

Links to the live audio webcast of the sessions will be available on MannKind Corporation’s website at: View Source Recorded versions will also be available on the website for approximately 90 days following the conference.

(Press release, Mannkind, MAR 4, 2026, View Source [SID1234663249])