Pipeline updates are highly awaited events in the pharma/biotech sector as they play an important role in deciding whether or not to invest in a particular company. These companies spend a significant amount in advancing their pipelines. One such biopharma company is Omeros Corporation (OMER - Snapshot Report) whose pipeline includes candidates like Omidria (OMS302), OMS103, OMS824 and OMS721.
Recently, Omeros released additional positive data from its phase I program on OMS824. The candidate is Omeros’ lead compound in its phosphodiesterase 10 (PDE10) program.
The study evaluated the extent to which a higher dose of OMS824 binds to PDE10. The data from the latest cohort revealed that an average of 70% engagement with PDE10 was observed in patients treated with OMS824 without evidence of extrapyramidal symptoms. The data further supported the potential of OMS824 to have a high therapeutic index in the treatment of patients with schizophrenia, Huntington's disease and other cognitive disorders. We note that OMS824 is being evaluated for the treatment of Huntington's disease and schizophrenia.
The candidate was well tolerated in all subjects. As the maximum tolerated dose of OMS824 has not yet been reached, Omeros expects to evaluate a higher dose of OMS824 to determine whether an even higher level of PDE10 occupancy can be achieved.
Last month, Omeros provided positive results from a phase IIa study on OMS824, being evaluated for the treatment of schizophrenia. Omeros will begin enrolment in a phase II study on OMS824 for the treatment of Huntington's disease in the current quarter. OMS824 enjoys Orphan Drug and Fast Track designation in the U.S. for this indication. A Fast Track application is also under review in the U.S. for OMS824 for the treatment of schizophrenia.
Omeros is likely to evaluate additional higher dose levels of OMS824 in both the phase IIa (schizophrenia) and the phase I positron emission tomography (PET) trials.
Omeros’ most advanced and proprietary pharmacosurgery candidate is Omidria. The company is looking to get Omidria approved in the U.S. and EU for the treatment of patients undergoing intraocular lens replacement surgery. Omeros expects to market Omidria in the second half of 2014 on approval.
Omeros carries a Zacks Rank #3 (Hold). Investors looking for better-ranked stocks in the biopharma sector may consider Endocyte Inc. (ECYT - Snapshot Report), Actelion Ltd. (ALIOF) and Biogen Idec Inc. (BIIB - Analyst Report). All three carry a Zacks Rank #1 (Strong Buy).