OABIW — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-07

• •Service revenue increased primarily as a result of an increase in ion channel programs.

• •xPloration revenue and royalty revenue remained relatively consistent period over period.

• •Research and development expenses consist of (1) personnel related expenses, including salaries, benefits and share-based compensation, (2) external expenses, including third-party costs for goods and services such as lab supplies and contract research, and (3) facility and other overhead expenses,…

• •General and administrative expenses declined primarily due to lower personnel expenses related to lower share-based compensation expense and headcount and lower legal fees.

• •Amortization of intangibles increased primarily due to the write-off of the net carrying value of $2.9 million of certain legacy small molecule ion channel intangible assets.

Text removed vs the prior filing · source: 10-Q · 2025-11-04

• •Service revenue declined primarily as a result of the completion of certain small molecule ion channel programs in the first half of 2025.

• •License and milestone revenue decreased primarily due to a $1.8 million decline in milestone revenue, partially offset by a $0.5 million increase in license revenue.

• •Service revenue declined primarily as a result of the completion or discontinuation of certain small molecule ion channel programs and the acceleration of revenue in the prior year period as a result of one of the discontinued programs.

• •xPloration revenue increased primarily as a result of the sale of an instrument and related consumables.

• •Royalty revenue declined primarily due to lower net sales from partners’ product sales in China.

Text removed vs the prior filing · source: 10-Q · 2025-11-04

• Recent government healthcare reform and other legislative measures could adversely affect our business and results of operations.

• As further discussed in the risk factor titled “Healthcare reform efforts aimed at lowering the price of biopharmaceutical products may impact our ability to maintain sufficient profits” in Part I, Item 1A of our 2024 Annual Report, in both the United States and certain foreign jurisdictions, there …

• In particular, the One Big Beautiful Bill Act, which was enacted in July 2025, imposes significant reductions in the funding of the Medicaid program. Such reductions are expected to decrease the number of persons enrolled in Medicaid and reduce the services covered by Medicaid, which could adversely…

• Further, the current administration is pursuing a two-fold strategy to reduce drug costs in the United States. While it is unclear whether and how the proposals will be implemented, the policies are likely to have a negative impact on the pharmaceutical industry and on our partners’ ability to recei…

• At the same time, some U.S. states have enacted legislation creating so-called prescription drug affordability boards, and to date one state has used its prescription drug affordability board to impose an upper payment limit. Other states are seeking to implement general, across the board price caps…