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Mar 31, 2025
Omeros Q1 2025 Earnings Report
Omeros reported a net loss and zero revenue in Q1 2025 while advancing regulatory and financial restructuring initiatives.
Key Takeaways
Omeros Corporation posted a net loss of $33.5 million in Q1 2025 with no reported revenue. The company focused its efforts on advancing the FDA review of narsoplimab and reducing near-term debt obligations through note exchanges and equity conversions.
Reported a net loss of $33.5 million, down from $37.2 million in Q1 2024.
No revenue was recognized for the quarter as OMIDRIA royalties go directly to DRI.
FDA accepted the resubmitted BLA for narsoplimab; decision expected by September 25, 2025.
Converted and exchanged significant portions of 2026 convertible notes, reducing near-term liabilities.
Revenue by Segment
Forward Guidance
The company is focused on securing FDA approval for narsoplimab and raising capital to resume paused programs.
Positive Outlook
- FDA accepted narsoplimab BLA resubmission with PDUFA date set for September 25, 2025.
- European marketing authorization application for narsoplimab expected in Q2 2025.
- Convertible note exchanges reduced short-term debt from $118M to $17M.
- Clinical trials for zaltenibart in treatment-naïve PNH patients to continue.
- Phase 1b OMS527 study for cocaine use disorder funded and beginning enrollment soon.
Challenges Ahead
- No revenue reported due to OMIDRIA royalties being remitted to DRI.
- Cash and short-term investments fell by $37.7 million from the previous quarter.
- Phase 3 zaltenibart PNH program paused due to capital constraints.
- Expanded access program for narsoplimab suspended to cut costs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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