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Omeros Corporation (OMER - Snapshot Report) recently released new positive data from a phase I study evaluating the pharmacokinetics of OMS824. OMS824 is Omeros’ lead compound in its phosphodiesterase 10 (PDE10) program.

The additional data further supports that OMS824 in comparison to other PDE10 inhibitors in development can achieve superior target engagement with lesser side effects. OMS824 was well tolerated at the highest multiple-dose level administered.

Omeros plans to initiate phase II studies on OMS824 for treating patients suffering from Huntington's disease and schizophrenia by the end of 2013.

In May 2013, Omeros had reported that OMS824 achieved high target occupancy without causing movement disorders seen with other PDE10 inhibitors. The positron emission tomography (PET) study evaluating OMS824 at lower doses revealed target engagement of about 50%, more than other PDE10 inhibitors.

The new data shows about 200% increase in plasma concentration over that of the dose used in the PET trial reported in May.

The phase I data supports the development of OMS824 for patients suffering from Huntington's disease, schizophrenia and other central nervous system disorders.

Meanwhile, we note that Omeros is currently looking to get a candidate, OMS302, approved in the U.S. and EU for the treatment of patients undergoing intraocular lens replacement (ILR) surgery. Omeros expects to launch OMS302 both in the U.S. and the EU in the second half of 2014, pending regulatory approval.

Omeros carries a Zacks Rank #3 (Hold). Stocks that currently look attractive include Biogen Idec Inc. (BIIB - Analyst Report)), GileadSciences Inc. (GILD - Analyst Report) and Affymetrix Inc. (AFFX - Analyst Report). All three carry a Zacks Rank #1 (Strong Buy).

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