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Dec 31, 2021
Omeros Q4 2021 Earnings Report
Reported net income of $280.6 million, which included cash proceeds of $126.0 million from the sale of OMIDRIA.
Key Takeaways
Omeros Corporation reported fourth quarter net income of $280.6 million, which included cash proceeds of $126.0 million from the sale of OMIDRIA. Net revenues from OMIDRIA sales were $31.9 million.
Omeros completed the sale of its commercial ophthalmic product OMIDRIA to Rayner Surgical Inc.
Net income in the fourth quarter of 2021 was $280.6 million, or $4.48 per share, which included cash proceeds of $126.0 million from the sale of OMIDRIA.
Net revenues from OMIDRIA sales for the fourth quarter of 2021 were $31.9 million.
Omeros had $157.3 million of cash, cash equivalents and short-term investments available for operations.
Omeros
Omeros
Omeros Revenue by Segment
Revenue by Segment
OMIDRIA Royalties Revenue
CapyFin.com Forward Guidance
Omeros anticipates multiple milestones in 2022, including progress in clinical trials for narsoplimab and OMS906, and the clinical entry of OMS1029.
Positive Outlook
- The Type A meeting with FDA for narsoplimab in TA-TMA was constructive.
- Enrollment in the narsoplimab Phase 3 IgA nephropathy trial has accelerated.
- Data from the I-SPY COVID-19 study is expected.
- OMS906 has completed dosing in healthy subjects without any safety concern.
- OMS1029 is expected to enter the clinic with once-monthly to once-quarterly dosing.
Challenges Ahead
- FDA expressed difficulty in estimating the treatment effect of narsoplimab in TA-TMA.
- FDA asserted that additional information would be needed to support regulatory approval of narsoplimab.
- Omeros is awaiting FDA’s response to its rebuttals to each of the review issues.
- The company is facing regulatory hurdles for narsoplimab in HSCT-TMA.
- There are risks associated with product commercialization.