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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 Corporation (Nasdaq: OMER) announces the CDC's approval of an ICD-10 code for hematopoietic stem cell transplantation-associated thrombotic microangiopathy (HSCT-TMA). This code, effective October 1, 2021, will enhance diagnosis accuracy and reporting of HSCT-TMA cases. Additionally, CMS approved two ICD-10-PCS codes for administering narsoplimab, an investigational therapy for HSCT-TMA, aimed at improving billing and reimbursement processes. Narsoplimab is under FDA priority review and has received several designations, including breakthrough therapy status.
Omeros Corporation (Nasdaq: OMER) has begun dosing patients with narsoplimab in the I-SPY COVID-19 Trial, which aims to identify effective treatments for critically ill COVID-19 patients. This adaptive trial, sponsored by Quantum Leap Healthcare Collaborative, focuses on reducing mortality and minimizing mechanical ventilation duration. Narsoplimab, targeting MASP-2, is the only complement inhibitor in the trial, with positive outcomes in compassionate use cases. Omeros anticipates valuable data from this collaboration, especially as SARS-CoV-2 variants continue to spread.
Omeros Corporation (Nasdaq: OMER) reported its fourth quarter and full year 2020 financial results, with Q4 revenues of $10.6 million, down from $26.1 million in Q3. The decline is attributed to the expiration of pass-through reimbursement for OMIDRIA on October 1, 2020. Total revenues for 2020 were $73.8 million, compared to $111.8 million in 2019, largely due to reduced cataract surgeries amid the COVID-19 pandemic. The company had $135.0 million in cash and equivalents at year-end. Narsoplimab’s Biologics License Application was accepted with a PDUFA date of July 17, 2021.
Omeros Corporation (NASDAQ: OMER) will announce its fourth quarter and year-end financial results for 2020 on March 1, 2021, after market close. A conference call is scheduled for the same day at 4:30 p.m. ET to discuss these results and recent company developments. Investors can join via phone or through a webcast on Omeros' website. The company focuses on developing therapeutics for various medical conditions, with products like OMIDRIA gaining market share in cataract surgery. Key developments include the rolling biologics license application for narsoplimab.
Omeros Corporation (Nasdaq: OMER) has appointed Nadia Dac as Chief Commercial Officer, responsible for all commercial operations, including the launch of narsoplimab, a MASP-2 inhibitor currently under FDA Priority Review for treating thrombotic microangiopathy. Dac brings nearly 30 years of experience from companies like Alder Pharmaceuticals and AbbVie. Omeros anticipates growth from the restoration of OMIDRIA reimbursement and the upcoming narsoplimab launch, enhancing its commercial prospects.
Omeros Corporation (Nasdaq: OMER) announced that the FDA has accepted its Biologics License Application (BLA) for narsoplimab, aimed at treating hematopoietic stem cell transplant-associated thrombotic microangiopathy (HSCT-TMA). The application has been granted Priority Review status, with a decision expected by July 17, 2021. Narsoplimab targets MASP-2, an enzyme crucial for the lectin pathway of the complement system, and has previously received breakthrough and orphan drug designations. There are currently no FDA-approved therapies for HSCT-TMA, marking narsoplimab's potential significance.
Omeros Corporation (Nasdaq: OMER) announced that Gregory A. Demopulos, M.D., CEO, will present at the 39th Annual J.P. Morgan Healthcare Conference on January 13, 2021, at 10:50 a.m. EST. The presentation will be available via webcast, accessible for 30 days on the company’s website. Omeros is focused on developing therapeutics for inflammation, complement-mediated diseases, and CNS disorders. Its lead product, OMIDRIA, continues to gain market share. The company is advancing in various clinical stages with drugs targeting significant health issues, including cancer.
Omeros Corporation (Nasdaq: OMER) announced that the Centers for Medicare & Medicaid Services (CMS) will provide separate payment for its cataract surgery drug, OMIDRIA (phenylephrine and ketorolac intraocular solution) 1%/0.3%. Effective retroactively from October 1, 2020, this decision supports non-opioid pain management in ambulatory surgery centers (ASCs). The drug is noted for preventing pupil constriction and reducing postoperative pain in cataract surgeries, thereby improving outcomes and decreasing opioid dependency.
Omeros Corporation (Nasdaq: OMER) has completed the rolling submission of its Biologics License Application (BLA) to the FDA for narsoplimab, aimed at treating hematopoietic stem cell transplant-associated thrombotic microangiopathy (HSCT-TMA). The submission includes clinical sections based on a pivotal trial where the drug met its primary endpoint. Omeros has requested priority review, with the FDA having up to 60 days to determine the application’s filing and review designation. Narsoplimab has received both breakthrough therapy and orphan drug designations from the FDA.
Omeros Corporation (Nasdaq: OMER) reported third-quarter 2020 revenues of $26.1 million, impacted by an $8.7 million return reserve after the expiration of OMIDRIA's pass-through reimbursement on October 1, 2020. This marks a decrease from $29.9 million in Q3 2019. The company posted a net loss of $38.5 million or $0.66 per share, compared to $16.5 million in the same quarter the previous year. Despite challenges, Omeros is advancing its pipeline, including the submission of a Biologics License Application for narsoplimab and a Phase 1 trial for OMS906.
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