Omeros Q1 net loss $0.58/sh; swaps $70.8M of 2026 notes for 2029 notes at 9.5%

OMEROS CORP

2025-Q1 EPS reported -$0.58

Net loss $33.5M ($0.58/diluted) vs $37.2M ($0.63) a year ago; OMIDRIA royalties $6.7M on sales of $22.3M.
Cash and short-term investments $52.4M at Mar 31, 2025, down $37.7M from Dec 31, 2024.
Exchanged $70.8M of 5.25% 2026 notes for new 9.50% 2029 notes; additionally $10M notes converting to equity.
Outstanding 2026 notes reduced to ~$17.1M; avoids $20M term loan prepayment plus $1M premium due Nov 2025.
FDA accepted BLA for narsoplimab in TA-TMA; PDUFA date Sep 25, 2025. Phase 3 PNH program paused to conserve cash.

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