A $3 million gain was recorded from the sale of the Kv7 asset to Angelini Pharma, partially offset by an increase in CBR liability.
Cash balance at quarter-end was $41.6 million with $2 million cash used during the quarter.
Net loss for Q2 2025 was $15.9 million or $0.15 per share, compared to a net loss of $13.6 million or $0.13 per share in Q2 2024.
OmniAb reported Q2 2025 revenue of $3.9 million, down from $7.6 million in Q2 2024, primarily due to lower milestone achievements and service revenue declines.
Operating expenses decreased to $20.1 million from $23.9 million year-over-year, driven by reductions in R&D and G&A expenses.
Adjusted EBITDA was $10.7 million, down 2% from prior year, impacted by Pathline acquisition ramp; excluding Pathline, adjusted EBITDA grew 13%.
Adjusted gross profit improved by $4.6 million or 6% over prior year.
Cash flow from operations was positive $20 million, up 44% year-over-year, with cash and marketable securities ending at $164 million.
Clinical revenue grew 16% year-over-year with organic clinical revenue up 13%, driven by a 10% increase in test volumes and a 3% increase in average unit price (AUP).
NeoGenomics reported Q2 2025 revenue of $181 million, representing 10% year-over-year growth but slightly below guidance.
NGS testing accounted for 32% of total clinical revenue and grew 23%, slightly below the 25% target but above market growth rates.
Nonclinical revenue declined 26% year-over-year due to weakness in pharma and biotech customer demand.
The company retired $201 million of convertible notes in Q2, significantly reducing debt.
Adjusted net loss was $505 million, driven by a $905 million non-tax deductible acquired IPR&D charge from the Chimerix acquisition.
Epidiolex net product sales grew 2% year-over-year to approximately $252 million, impacted by inventory dynamics in the U.S.
Jazz Pharmaceuticals reported $1.05 billion in total revenues for Q2 2025, a 2% increase year-over-year, driven primarily by 13% growth in Xywav net product sales.
Oncology product sales decreased 1% year-over-year, with declines in Rylaze and Zepzelca largely offset by higher sales of Ziihera, Defitelio, and Vyxeos.
Operating cash flow was strong at $519 million in the first half of 2025, with a cash and investments balance of $1.7 billion at quarter end.