$OMER Reports Strong Financial Position and Diversified Pipeline
Mar 13th 2023, 8:06 pm
Analyst Summary: Omeros Corporation has reported a strong financial position with 400 million dollars available for operations and the flexibility to retire its 2023 debt obligation while funding advancements across its portfolio of cutting-edge platforms and programs well into 2025. CEO Gregory A. Demopulos stated that the success of any one of their portfolio programs would deliver substantial shareholder value. With several programs in late-stage clinical development, Omeros continues to diversify its offerings through the development of its long-acting MASP-2 inhibitor, OMS1029, and its inhibitor of MASP-3. The company is meeting with the FDA to confirm the required information for the approval of its resubmitted BLA for TA-TMA, and the results from their pivotal ARTEMIS-IGAN trial remain on track for third-quarter release. The company has expressed interest in working with the U.S. government in COVID-19 and ARDS. Additionally, Omeros continues to earn royalties from U.S. sales of OMIDRIA while reflecting an increase in expected OMIDRIA U.S. net sales due to the CAA securing separate payment for drugs like OMIDRIA until at least January 1st, 2028. All in all, Omeros Corporation is on track to strengthen its financial position while continuing to provide shareholders with an innovative biopharmaceutical pipeline. Forward-looking statements: The company acknowledges several potential risks and uncertainties, including those factors discussed in their recent Form 10-K, that may cause actual results to differ materially from any forward-looking statements made by the company. The company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.