OmniAb Inc.

Eli Lilly shares rose 3.6% to close at $1,227 after the company announced two deals, acquiring rights to a preclinical Alzheimer's drug and entering a collaboration for an ion channel program. The company acquired global rights to AlzeCure Pharma's Alzheimer's drug candidate ACD680 for an upfront payment of $10 million, with the agreement potentially exceeding $1 billion in total value through future development and commercial milestone payments plus mid-single-digit royalties on sales. In a separate agreement, Eli Lilly entered a global collaboration with OmniAb for a new ion channel program, under which OmniAb will receive an upfront payment and is eligible for up to $370 million in milestone payments along with tiered royalties on global net sales. The deals are expected to help Lilly reload its early-stage pipeline while protecting near-term margins and building a fortified multi-mechanism moat around its Alzheimer's franchise.

Eli Lilly announced new global collaborations focused on ion channel drug discovery with OmniAb and a trial partnership with Amplia Therapeutics in KRAS G12C-mutant lung cancer. The OmniAb agreement centers on applying its ion channel platform to Eli Lilly's neuroscience research pipeline. The Amplia collaboration targets a clinical trial program that combines FAK and KRAS G12C-directed therapies for lung cancer patients. These deals expand Eli Lilly's external R&D partnerships across neuroscience and oncology, adding depth to its early and mid stage pipeline.

OmniAb Inc. shares soared almost 18% in premarket trade after the company raised its cash forecast for 2026 on the back of recent license and business-development agreements. The business now intends to complete the year with $49 million to $53 million in cash and cash equivalents, compared with a prior estimate of $37 million to $41 million. The upgrade comes on the back of recent licensing activities in technology including a contract with Eli Lilly in relation to the company's ion-channel program. Seeking Alpha has previously claimed that the Lilly license deal might be worth $370 million. For a smaller biotech outfit, the capital injection is crucial as it buys management some breathing room on funding operations without needing to tap the equity markets right away.

OmniAb has entered into a global collaboration and license agreement with Eli Lilly and Company for a new ion channel program. Under the terms, OmniAb will receive an upfront payment and is eligible for up to $370 million in research, development, and commercial milestone payments, plus tiered royalties on global net sales. The therapeutic target and modality were not disclosed. OmniAb will contribute its technology platform and expertise in ion channel discovery and screening.

OmniAb reported second quarter 2026 revenue of $13.4 million and raised its full-year revenue guidance to a range of $32 million to $36 million, up from the prior $28 million to $33 million. The company's net loss narrowed to $5.9 million, or $0.05 per share, from $15.9 million a year earlier. OmniAb ended the quarter with 110 active partners and 425 active programs, including new license agreements with argenx and EnRosa Therapeutics. Management highlighted two programs that advanced directly from Phase I to Phase III during the quarter: J&J's Ramantamig and Merck KGaA's precemtabart tocentecan. The company also sold two xPloration instruments, bringing the total in the field to four, and expects year-end cash of $37 million to $41 million.

OmniAb reported second-quarter total revenue of $13.4 million, a 243% increase from $3.9 million a year earlier, driven by higher milestone revenue. Two partner programs, rimantomib and persentabartosentican, advanced directly from Phase 1 into Phase 3 during the quarter. The company narrowed its net loss to $5.9 million from $15.9 million and raised its full-year 2026 revenue guidance to between $32 million and $36 million. OmniAb also signed new agreements with Argenx and Rosa Therapeutics, reflecting growing demand for its OmniChicken and OmniDab platforms.

OmniAb has gained more than 38% over the past six months and around 74% since its fiscal first-quarter 2026 earnings release. The company reported revenue of $14.4 million, up from $4.2 million a year earlier, driven by milestone payments from partner programs advancing into later-stage clinical trials. Research and development costs fell to $9.6 million from $12.6 million, and general and administrative costs dropped to $6.6 million from $7.9 million, narrowing the net loss to $7.7 million from $18.2 million. OmniAb raised its full-year revenue guidance to a range of $28 million to $33 million, up from the prior $25 million to $30 million. The company licenses discovery research technology to pharmaceutical and biotech firms and recently added OmniUltra and the xPloration partner access program to its portfolio.