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Omeros Corporation (symbol: OMER) is a biopharmaceutical company headquartered in Seattle, United States. The company is deeply committed to the discovery, development, and commercialization of small-molecule and protein therapeutics. Omeros targets a range of large-market and orphan indications, particularly focusing on conditions related to inflammation, coagulopathies, and central nervous system disorders.
Omeros is engaged in discovering and developing treatments for immunologic disorders including complement-mediated diseases, cancers, and addictive and compulsive disorders. A key player in their pipeline is narsoplimab (OMS721). This proprietary, patented human monoclonal antibody targets mannan-binding lectin-associated serine protease 2 (MASP-2), which is a crucial activator of the lectin pathway of complement.
Currently, the clinical development of narsoplimab focuses on treating hematopoietic stem cell transplant-associated thrombotic microangiopathy (HSCT-TMA) and immunoglobulin nephropathy (IgAN). The promising results of these studies indicate significant potential in tackling these severe conditions.
In recent achievements, Omeros has forged strategic partnerships and collaborations to propel the development of its therapeutic candidates. Financially, the corporation maintains stability through well-planned funding strategies and has shown resilience in adapting to market demands and research challenges.
Omeros Corporation is dedicated to improving patient outcomes and advancing medical science through its innovative research and development initiatives. The company's unwavering dedication to addressing unmet medical needs ensures its significant role in the biopharmaceutical landscape.
Omeros (OMER) reported Q3 2024 financial results with a net loss of $32.2 million ($0.56 per share), compared to $37.8 million ($0.60 per share) in Q3 2023. The company held $123.2 million in cash and short-term investments, down $48.7 million from December 2023. OMIDRIA royalties were $9.3 million on $31.0 million U.S. net sales. Key developments include FDA discussions for narsoplimab BLA resubmission in TA-TMA, planned European MAA submission in H1 2025, and advancement of zaltenibart's Phase 2 program in PNH with Phase 3 enrollment expected in early 2025.
Omeros (NASDAQ: OMER) has scheduled its third quarter 2024 financial results announcement for Wednesday, November 13, 2024, after market close. The company will host a conference call and webcast at 4:30 p.m. Eastern Time to discuss financial results, recent developments, and highlights. Participants can access the webcast through Omeros' website or join via phone by registering for a unique PIN. A replay will be available on the company's website.
Omeros announced that its MASP-3 inhibitor zaltenibart (OMS906) received rare pediatric disease designation from the FDA for treating C3 glomerulopathy (C3G), an ultra-rare renal disorder affecting children and young adults. The company plans to initiate Phase 3 trials for C3G in 2024. Zaltenibart is also being developed for paroxysmal nocturnal hemoglobinuria (PNH), with Phase 3 studies starting this quarter. The PNH market was valued at $3.9 billion in 2023 and is projected to reach $10.1 billion by 2032. If approved, Omeros will receive a priority review voucher that can accelerate FDA review of future applications.
Omeros (OMER) reported Q2 2024 financial results:
- Net loss of $56.0 million ($0.97/share) vs $37.3 million ($0.59/share) in Q2 2023
- Cash and short-term investments of $158.9 million as of June 30, 2024
- OMIDRIA royalties of $10.9 million on $36.4 million U.S. net sales
- Entered $67.1 million initial term loan agreement
- Repurchased $118.1 million of 2026 convertible notes at 25% discount
Key clinical developments:
- Ongoing FDA discussions for narsoplimab BLA resubmission in TA-TMA
- Zaltenibart (OMS906) advancing in Phase 2 PNH trials
- OMS1029 completed Phase 1 studies, supporting quarterly dosing
Omeros (NASDAQ: OMER) has announced that it will release its financial results for the second quarter ended June 30, 2024, on Wednesday, August 7, 2024, after market close. The company will host a conference call and webcast at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) on the same day to discuss the financial results, recent developments, and highlights.
Investors can access the live webcast through Omeros' website at https://investor.omeros.com/upcoming-events. To join the conference call via phone, participants must register online to receive a unique PIN. A replay of the call will be available at https://investor.omeros.com/archived-events.
Omeros (Nasdaq: OMER) will host a live webcast of its Annual Meeting of Shareholders on June 6, 2024, at 10:00 a.m. Pacific Time. Shareholders of record as of April 18, 2024, can attend, vote, and submit questions online using a 16-digit control number. The meeting will include a general corporate overview and Q&A session. Guests can attend but won't have voting or questioning privileges. The event will be recorded and available later on the company's website.
Omeros (NASDAQ: OMER) has completed a series of strategic financial transactions aimed at strengthening its balance sheet and extending the maturity of its debt. The company repurchased $118.1 million, or 55%, of its outstanding convertible notes due in 2026 at 75% of their notional value, resulting in $51 million in total debt extinguishment. The repurchase was funded through a new $67 million secured four-year term loan maturing in June 2028 and $21 million in cash. The new credit facility includes a $25 million delayed draw term loan for potential narsoplimab commercialization, with no equity component, preventing shareholder dilution.
The transactions strengthen Omeros' financial position, enabling flexibility to manage the remaining 2026 notes and support potential narsoplimab commercialization. Omeros retains all future potential value of capped calls associated with the original 2026 notes. The loans carry a competitive interest rate of adjusted term SOFR plus 8.75%, maturing on June 3, 2028. The company maintains a cash balance of $230.3 million, sufficient to fund operations and debt service into 2026.
Omeros (Nasdaq: OMER) reported a net loss of $37.2 million or $0.63 per share for Q1 2024, up from $33.7 million or $0.54 per share in Q1 2023. The net loss from continuing operations was $43.9 million, compared to $39.7 million in the prior year. Key developments include receiving $115.5 million from amending the OMIDRIA royalty purchase agreement with DRI Healthcare Acquisitions LP. Omeros had $230.3 million in cash and short-term investments by the end of March 2024, up by $58.5 million from year-end 2023.
Clinical progress includes the resubmission plan for narsoplimab BLA and the ongoing Phase 2 and 3 trials for OMS906 in PNH and C3G. OMS1029 is set for a Phase 2 trial later in 2024. OMS527 continues its development for cocaine use disorder funded by a $6.69 million NIDA grant. Omeros earned $9.4 million in OMIDRIA royalties from U.S. sales of $31.2 million in Q1 2024.
Operating expenses for Q1 2024 rose to $39.0 million from $35.7 million in Q1 2023, mainly due to higher R&D costs. Interest expense increased to $8.2 million from $7.9 million. The company’s management will host a conference call to discuss the results and business updates.
Omeros (NASDAQ: OMER) will announce its financial results for the quarter and year ended March 31, 2024, on May 15, 2024. The company's management will host a conference call and webcast to discuss the financial results and recent developments.
Omeros (OMER) announced that interim analysis data from its ongoing Phase 2 study of OMS906 in patients with paroxysmal nocturnal hemoglobinuria has been selected for podium presentation at the 2024 European Hematology Association (EHA) Hybrid Congress. OMS906 is an investigational inhibitor of MASP-3 targeting the alternative pathway of complement. The EHA Congress will take place in Madrid, Spain from June 13-16, 2024, where two additional poster presentations related to OMS906 will also be featured.
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