Omeros Q3 net loss $37.8M; discontinues IgA nephropathy trial, targets narsoplimab BLA in mid-2024

OMEROS CORP

Net loss of $37.8M ($0.60/sh) vs $17.5M prior year; continuing ops loss $51.7M, down from $54.8M.
OMIDRIA royalties $10.0M on $33.3M US sales (down from $16.5M) due to royalty rate drop to 30%.
$310.3M cash as of Sept 30; expects to repay $95M convertible notes due Nov 15, 2023.
Phase 3 ARTEMIS-IGAN trial for IgA nephropathy discontinued after interim analysis missed primary endpoint.
BLA resubmission for narsoplimab in TA-TMA on track for FDA decision mid-2024; OMS906 Phase 2 PNH data pending.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OMEROS CORP reported third quarter ended September 30, 2023 results: net income Net loss was $37.8 million for the quarter ended September 30, 2023, or $0.60 per share, EPS $0.60 per share.

Period: third quarter ended September 30, 2023
Net income: Net loss was $37.8 million for the quarter ended September 30, 2023, or $0.60 per share
EPS: $0.60 per share
Result: reported results

Exact text from the filing

Net loss was $37.8 million for the quarter ended September 30, 2023, or $0.60 per share, compared to a net loss in the prior year quarter of $17.5 million, or $0.28 per share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OMEROS CORP reported nine months ended September 30, 2023 results: net income net loss was $108.8 million, or $1.73 per share, EPS $1.73 per share.

Period: nine months ended September 30, 2023
Net income: net loss was $108.8 million, or $1.73 per share
EPS: $1.73 per share
Result: reported results

Exact text from the filing

For the nine months ended September 30, 2023, our net loss was $108.8 million, or $1.73 per share, compared to a net loss of $81.3 million, or $1.30 per share, in the prior year period.

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Source: SEC EDGAR

accession 0001437749-23-031249

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