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Jun 30, 2022
Omeros Q2 2022 Earnings Report
Omeros reported a net loss for Q2 2022 and earned royalties on OMIDRIA sales.
Key Takeaways
Omeros Corporation reported second quarter 2022 financial results, including royalties of $17.2 million on OMIDRIA sales and a net loss of $30.9 million, or $0.49 per share.
Omeros earned royalties of $17.2 million on net sales of OMIDRIA in Q2 2022.
Rayner's net sales of OMIDRIA were $34.5 million for the second quarter of 2022.
Net loss in 2Q 2022 was $30.9 million, or $0.49 per share.
Omeros had $122.6 million of cash, cash equivalents and short-term investments available for operations at June 30, 2022.
Omeros
Omeros
Forward Guidance
Omeros anticipates several value-driving milestones in the coming quarters, including data readouts from clinical trials and potential FDA decisions.
Positive Outlook
- Data from Phase 3 trial of narsoplimab in IgA nephropathy expected by mid-next year.
- Efficacy data from MASP-3 inhibitor OMS906 trials in PNH and C3 glomerulopathy targeted by early next year.
- Data from Phase 1 trial of OMS1029, long-acting MASP-2 inhibitor, expected in early 2023.
- Data available for PDE7 inhibitor OMS527 in a primate model of levodopa-induced dyskinesias in early 2023.
- Continuing growth in royalty stream from OMIDRIA and potential $200-million milestone payment upon long-term reimbursement.
Challenges Ahead
- Potential for unanticipated outcomes of regulatory processes.
- Challenges associated with manufacture or supply of investigational or clinical products.
- Changes in reimbursement and payment policies.
- Intellectual property claims.
- Competitive developments and litigation.