secwatch.observer — SEC 8-K summary
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Issuer:     OMEROS CORP (OMER)
CIK:        0001285819
Form:       8-K
Filed at:   2025-05-15T23:59:59+00:00
Accession:  0001437749-25-017211
Event type: earnings
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.02, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1285819/000143774925017211/0001437749-25-017211-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1285819/000143774925017211/omer20250407_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-017211

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer