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Omeros Corporation - OMER STOCK NEWS

Welcome to our dedicated page for Omeros Corporation news (Ticker: OMER), a resource for investors and traders seeking the latest updates and insights on Omeros Corporation stock.

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.

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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.

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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.

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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.

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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.

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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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Omeros announced financial results for Q4 and year-end 2023, with a net loss of $9.1 million in Q4, compared to $37.8 million in the previous quarter. The company reported a net loss of $117.8 million for the full year, including a $200.0 million milestone payment. Omeros also secured $115.5 million in cash from an amended OMIDRIA royalty purchase agreement with DRI Healthcare Acquisitions LP.
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Omeros (NASDAQ: OMER) will release its financial results for the quarter and year ended December 31, 2023, on April 1, 2024. A conference call and webcast will follow to discuss the results and recent developments.
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Omeros Corporation (OMER) announces the upcoming presentation of a report on narsoplimab treatment for TA-TMA. The report will be presented at the 2024 Tandem Meetings by U.S. investigators. Narsoplimab targets MASP-2 and will be featured as a poster presentation in San Antonio, Texas.
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Omeros Corporation announced an expanded deal with DRI Healthcare Acquisitions LP, resulting in a $115 million upfront payment and the potential for an additional $55 million in sales-based milestones. This deal involves an expanded interest in certain royalty payments based on net sales of OMIDRIA in the United States, which is a novel ophthalmic product for use in cataract and lens replacement surgery. The expanded agreement extends Omeros' operating runway and provides substantial additional non-dilutive working capital. Omeros retains the upside of all ex-U.S. royalties and, after 2031, of all global royalties from OMIDRIA sales.
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Omeros Corporation (Nasdaq: OMER) announced Q3 financial results, including a net loss of $37.8 million, and recent developments in their clinical-stage biopharmaceutical programs. Highlights include discontinuation of the Phase 3 ARTEMIS-IGAN clinical trial, resubmission plans for the BLA for narsoplimab in TA-TMA, and advancements in OMS906 and OMS527 programs. The company also expects to pay the $95 million principal balance due at maturity of their unsecured convertible senior notes on November 15, 2023.
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FAQ

What is Omeros Corporation's primary focus?

Omeros Corporation focuses on discovering, developing, and commercializing small-molecule and protein therapeutics for various medical conditions.

What are the main areas of research for Omeros?

Omeros focuses on inflammation, coagulopathies, central nervous system disorders, immunologic disorders including complement-mediated diseases, cancers, and addictive and compulsive disorders.

What is narsoplimab (OMS721)?

Narsoplimab (OMS721) is a proprietary, patented human monoclonal antibody targeting MASP-2, crucial in activating the lectin pathway of complement, and is in clinical development for treating HSCT-TMA and IgAN.

Where is Omeros Corporation headquartered?

Omeros Corporation is headquartered in Seattle, United States.

What recent achievements has Omeros made?

Omeros has made significant strides in clinical studies of narsoplimab and formed strategic partnerships to enhance the development of its therapeutic candidates.

How does Omeros fund its research and development?

Omeros funds its research and development through well-planned funding strategies, maintaining financial stability.

What is the significance of the lectin pathway of complement?

The lectin pathway of complement is involved in the immune system's response to pathogens, and MASP-2 is a key activator of this pathway, making it a significant therapeutic target.

Why is narsoplimab important for Omeros?

Narsoplimab is a leading drug candidate with potential to treat serious conditions like HSCT-TMA and IgAN, highlighting Omeros's innovative capabilities in biopharmaceuticals.

What types of disorders does Omeros target?

Omeros targets disorders related to inflammation, coagulopathies, central nervous system disorders, and immunologic disorders, including complement-mediated diseases and cancers.

How does Omeros contribute to patient outcomes?

Through innovative research and development, Omeros aims to improve patient outcomes by addressing unmet medical needs with their advanced therapeutics.

Omeros Corporation

Nasdaq:OMER

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