Back to top

Analyst Blog

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

Omeros Corporation (OMER - Snapshot Report) reported second quarter 2013 loss of 48 cents per share, wider than the Zacks Consensus Estimate of a loss of 40 cents per share and the year-ago loss of 38 cents per share.

The company’s revenue for the second quarter of 2013 declined to $0.1 million from $1.5 million in the year-ago period. The decline was attributable to lower collaboration revenues. The Zacks Consensus Estimate stood at $1 million for the second quarter of 2013.

Operating expenses increased 36.1% to $13.3 million in the second quarter of 2013 primarily due to rent expenses, stock-based compensation and investment in pipeline. In the second quarter of 2013, Research and development expenses were $9.6 million, up 26.5%. Selling, general and administrative expenses increased 68.9% to $3.7 million.

Omeros made significant progress with respect to its pipeline in the second quarter of 2013. The company submitted the New Drug Application to the U.S. Food and Drug Administration for OMS302. The company is looking to get the candidate approved for maintaining intraoperative mydriasis (pupil dilation), preventing surgically induced miosis (pupil constriction) and reducing postoperative pain and irritation due to intraocular lens replacement (ILR) surgery, including cataract surgery and refractive lens exchange.

The company plans to submit the Marketing Authorization Application to the European Medicines Agency for the use of OMS302 in the above mentioned indications, shortly. Omeros expects OMS302 to reach the markets in 2014.

Currently, the ophthalmology market is dominated by players like Allergan Inc. (AGN - Analyst Report) and Novartis (NVS - Snapshot Report).

Apart from OMS302, other interesting candidates in Omeros’ pipeline include OMS824 and OMS721. OMS824 is Omeros’ lead compound in its phosphodiesterase 10 (PDE10) program. The company plans to initiate phase II studies on OMS824 for treating patients suffering from Huntington's disease and for schizophrenia by 2013 end.

OMS721 will be primarily developed for the treatment of atypical hemolytic uremic syndrome, a rare but life-threatening form of thrombotic microangiopathy. Omeros initiated a phase I study on the candidate in Jul 2013.

Omeros, a biopharmaceutical company, currently carries a Zacks Rank #3 (Hold). Other biopharma stocks such as Jazz Pharmaceuticals (JAZZ - Analyst Report) currently look more attractive. The stocks carries a Zacks Rank #2 (Buy).

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
LAKE SHORE G LSG 0.77 +6.05%
QUESTCOR PHA QCOR 80.07 +2.47%
VIPSHOP HOLD VIPS 156.35 +1.82%
ENLINK MIDST ENLC 36.29 +1.60%
BNC BANCORP BNCN 17.33 +1.58%