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Omeros Corporation Reports Third Quarter 2013 Financial Results
Date:11/7/2013

SEATTLE, Wash., Nov. 7, 2013 /PRNewswire/ --

  • Received $17.4 million in cash in October 2013
  • Total operating expenses in 3Q 2013 were $13.6 million including $3.2 million in non-cash expenses compared to $13.3 million including non-cash expenses of $2.1 million in 2Q 2013
  • U.S. and European regulators accepted Omeros' OMS302 marketing applications for review
  • OMS824 and OMS721 Phase 1 clinical programs generated positive data
  • Increased the number of unlocked orphan GPCRs to 52
  • Omeros Corporation (NASDAQ: OMER), a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products targeting inflammation, coagulopathies and disorders of the central nervous system, today announced its financial results for the third quarter of 2013.

    "Throughout the third quarter of 2013, we continued to make significant strides in development across our pipeline," stated Gregory A. Demopulos, M.D., chairman and chief executive officer of Omeros. "For OMS302, the marketing applications were accepted for review by both the FDA and EMA, and the market launch is planned for the second half of 2014. Our OMS824 program for the treatment of cognitive disorders was granted orphan drug designation by the FDA, generated positive Phase 1 clinical trial results, began enrollment in a Phase 2 trial in patients with schizophrenia and is now initiating a Phase 2 trial in Huntington's disease. OMS721, our MASP-2 inhibitor, entered a Phase 1 clinical trial from which we reported positive data today, and a Phase 2 trial to evaluate the molecule's efficacy and safety in patients with thrombotic microangiopathies is planned for early 2014. Preclinically, our GPCR platform continued to identify functionally active compounds against an
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