OmniAb, Inc. shares rose sharply in Monday premarket trading after the company announced a global collaboration and license agreement with Eli Lilly and Company for a new ion channel program. Under the deal, Lilly will use OmniAb’s ion channel discovery and screening capabilities, while OmniAb will receive an upfront payment and remain eligible for up to $370 million in research, development and commercial milestone payments, plus tiered royalties on global net sales. The company did not disclose the therapeutic target or modality. OmniAb also lifted its 2026 cash outlook to $49 million to $53 million from $37 million to $41 million following recent technology licensing activity. Shares were up 18.34% at $4.00 during Monday premarket trading, reaching a new 52-week high, while CEO Matt Foehr said the company’s ion channel expertise and technologies are positioned to support the new discovery program.