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Dec 31, 2019
Omeros Q4 2019 Earnings Report
Omeros reported its Q4 and year-end 2019 financial results.
Key Takeaways
Omeros Corporation reported OMIDRIA revenues of $33.4 million for Q4 2019, representing the highest revenue quarter to date and a 12% increase compared to Q3 2019. The net loss for the quarter was $29.2 million, or $0.58 per share. The company had cash, cash equivalents, and short-term investments of $60.8 million as of December 31, 2019.
OMIDRIA revenues for Q4 2019 reached $33.4 million, the highest revenue quarter to date, reflecting a 12% growth from the previous quarter.
Full-year 2019 OMIDRIA revenues totaled $111.8 million, a 274% increase from the prior year.
The company's pivotal trial in HSCT-TMA generated data that surpassed the FDA's efficacy threshold and enabled the submission of the first sections of the rolling BLA.
Omeros discovered a cancer immunity axis controlled by GPR174, a target that the company controls and expects could change the immuno-oncology landscape.
Revenue by Segment
Forward Guidance
Omeros is on track to complete submission of the narsoplimab BLA for HSCT-TMA and looks forward to FDA’s review and approval. The company expects continued growth in OMIDRIA sales, further clinical development of its OMS527 addiction program, a Phase 1 trial for its MASP-3 inhibitor OMS906, and ongoing progress with its MASP-2 small-molecule inhibitor and next-generation antibody as well as its GPR174 antagonists.
Positive Outlook
- On track to complete submission of the narsoplimab BLA for HSCT-TMA.
- Continued growth in OMIDRIA sales expected.
- Further clinical development of OMS527 addiction program planned.
- Phase 1 trial for MASP-3 inhibitor OMS906 expected.
- Ongoing progress with MASP-2 small-molecule inhibitor and next-generation antibody as well as GPR174 antagonists.
Historical Earnings Impact
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