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EMERYVILLE, Calif. - OmniAb, Inc. (NASDAQ:OABI), a biotechnology company with a market capitalization of $247 million, announced Monday it has entered into a definitive agreement to sell approximately 21.25 million shares of its common stock in a private placement expected to generate about $30 million in gross proceeds.
The biotechnology company, which licenses antibody discovery technology, will sell the majority of shares at $1.40 each, with company officers and directors paying $1.85 per share. According to InvestingPro data, the stock has declined nearly 48% over the past six months, though analysis suggests the shares are currently undervalued. The transaction is expected to close on or about Tuesday, subject to customary closing conditions.
The financing attracted participation from both new and existing investors, including company officers and directors. Leerink Partners is serving as the sole placement agent for the transaction.
OmniAb indicated the net proceeds will be used for general corporate purposes. The shares being sold have not been registered under the Securities Act of 1933 and cannot be resold in the United States without registration or an applicable exemption. As part of the agreement, OmniAb will file a registration statement with the SEC to register the resale of these shares.
The company’s technology platform enables pharmaceutical and biotech companies to discover antibodies for therapeutic development. OmniAb’s business model includes upfront fees, service revenue, milestone payments, and royalties on commercial sales from its partners. While analysts project a sales decline this year, the company maintains impressive gross margins of 99%. Get deeper insights into OmniAb’s financial health and growth prospects with a comprehensive Pro Research Report, available exclusively on InvestingPro.
The information in this article is based on a company press release statement.
In other recent news, OmniAb, Inc. reported a notable decline in revenue for the second quarter of 2025. Revenue fell to $3.9 million, a significant drop from the $7.6 million reported in the same quarter the previous year. The company also experienced a net loss of $15.9 million, or $0.15 per share, compared to a $13.6 million loss, or $0.13 per share, in Q2 2024. These financial results come amid ongoing restructuring efforts within the company. There have been no recent mergers or acquisitions reported for OmniAb. Analysts have not provided any recent upgrades or downgrades for the company. Additional company news or developments have not been disclosed at this time.
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