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Omeros Corporation (OMER-8.30%) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details Omeros' ongoing development programs, including its lead product candidate, narsoplimab, which is being developed for hematopoietic stem cell transplant-associated thrombotic microangiopathy (TA-TMA). The company resubmitted a biologics license application for narsoplimab to the FDA in March 2025.
Omeros is also advancing its OMS1029 program, a long-acting antibody targeting MASP-2, and zaltenibart (OMS906), which targets MASP-3 for conditions such as paroxysmal nocturnal hemoglobinuria (PNH) and complement 3 glomerulopathy (C3G).
The company reported a net loss from continuing operations of $182.6 million for the year, with total research and development expenses amounting to $119.5 million. Selling, general, and administrative expenses were $49.7 million.
Omeros has a credit agreement with Athyrium Capital Management and Highbridge Capital Management, under which it received an initial term loan of $67.1 million. The company used these funds to repurchase a portion of its outstanding convertible senior notes.
The filing also discusses the sale of Omeros' commercial product OMIDRIA to Rayner Surgical Inc. and the subsequent sale of future OMIDRIA royalties to DRI Healthcare Acquisitions LP. Omeros retains rights to royalties on OMIDRIA sales outside the U.S. and after December 31, 2031.
Management has expressed substantial doubt about the company's ability to continue as a going concern, citing recurring losses and the need for additional capital to fund operations and repay debt obligations.
Omeros is exploring various options to raise additional capital, including equity offerings, debt transactions, and strategic partnerships, to support its ongoing operations and development programs.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Omeros Corporation annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.