Omeros Corporation Confirms Absence of Financial Exposure to Silicon Valley Bank

Rhea-AI Summary

Omeros Corporation (NASDAQ: OMER) has confirmed a lack of financial relationships with Silicon Valley Bank, addressing investor concerns. The company previously held a line of credit with the bank, which expired in August 2022. Currently, Omeros has no assets deposited with Silicon Valley Bank nor any other financial ties. Omeros is focused on developing pharmaceutical therapies for immunologic disorders, with its lead drug, narsoplimab, under a pending FDA biologics license application for treating hematopoietic stem cell transplant-associated thrombotic microangiopathy. The company is advancing multiple late-stage clinical programs targeting various complement-mediated disorders.

Positive

• No financial liabilities with Silicon Valley Bank; reduces investor risk.
• Omeros has a lead drug, narsoplimab, pending FDA approval, indicating potential revenue growth.
• Multiple late-stage clinical programs suggest robust pipeline and continued development.

Negative

• None.

SEATTLE--(BUSINESS WIRE)-- Omeros Corporation (Nasdaq: OMER), in response to investor inquiries, is confirming that it has no banking or other financial relationship with Silicon Valley Bank.

Omeros previously maintained a line of credit with Silicon Valley Bank, which the company allowed to expire in August 2022. Omeros does not have any assets on deposit with Silicon Valley Bank, nor does the company maintain any other financial relationship with the bank or its affiliated entities.

About Omeros Corporation

Omeros is an innovative biopharmaceutical company committed to discovering, developing and commercializing small-molecule and protein therapeutics for large-market and orphan indications targeting immunologic disorders including complement-mediated diseases, cancers, and addictive and compulsive disorders. Omeros’ lead MASP-2 inhibitor narsoplimab targets the lectin pathway of complement and is the subject of a biologics license application pending before FDA for the treatment of hematopoietic stem cell transplant-associated thrombotic microangiopathy (TA-TMA). Narsoplimab is also in multiple late-stage clinical development programs focused on other complement-mediated disorders, including IgA nephropathy, COVID-19, and atypical hemolytic uremic syndrome. Omeros’ long-acting MASP-2 inhibitor OMS1029 is currently in a Phase 1 clinical trial. OMS906, Omeros’ inhibitor of MASP-3, the key activator of the alternative pathway of complement, is advancing in clinical programs for paroxysmal nocturnal hemoglobinuria (PNH), complement 3 (C3) glomerulopathy and one or more related indications. For more information about Omeros and its programs, visit www.omeros.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230310005382/en/

Jennifer Cook Williams

Cook Williams Communications, Inc.

Investor and Media Relations

IR@omeros.com

Source: Omeros Corporation

FAQ

Does Omeros Corporation have any financial relationship with Silicon Valley Bank?

No, Omeros Corporation has confirmed that it has no banking or financial relationship with Silicon Valley Bank.

What was Omeros' previous relationship with Silicon Valley Bank?

Omeros previously maintained a line of credit with Silicon Valley Bank, which expired in August 2022.

What is the lead drug of Omeros Corporation?

Omeros' lead drug is narsoplimab, which is pending FDA approval for treating hematopoietic stem cell transplant-associated thrombotic microangiopathy.

What clinical programs is Omeros currently pursuing?

Omeros is advancing multiple late-stage clinical programs targeting complement-mediated disorders, including IgA nephropathy and COVID-19.