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SEATTLE - Omeros Corporation (NASDAQ:OMER), currently trading with a market capitalization of $210 million and showing signs of being undervalued according to InvestingPro analysis, announced Thursday it has entered into a securities purchase agreement with Polar Asset Management Partners to sell approximately $22 million of its common stock in a registered direct offering.
Under the agreement, Omeros will sell 5,365,853 shares at $4.10 per share, representing a 14% premium to the company’s closing stock price on July 24. The transaction comes as the company faces significant financial challenges, with InvestingPro data showing a total debt of $415 million and negative EBITDA of -$164 million in the last twelve months. The transaction is expected to close on or about Monday, subject to customary closing conditions.
D. Boral Capital LLC is serving as the exclusive placement agent for the offering, which is being conducted pursuant to Omeros’ shelf Registration Statement on Form S-3 that was declared effective by the Securities and Exchange Commission in November 2022.
The biopharmaceutical company is focused on developing therapeutics for immunologic disorders, complement-mediated diseases, cancers, and addictive disorders. Its lead product candidate, narsoplimab, is currently under FDA review for the treatment of hematopoietic stem cell transplant-associated thrombotic microangiopathy. With the company’s next earnings report due on August 6, investors can access comprehensive analysis and additional insights through the detailed Pro Research Report available on InvestingPro.
Polar Asset Management Partners, the Toronto-based investor in the offering, manages approximately $6.0 billion in assets as of June 30, according to the press release statement.
The announcement contains forward-looking statements regarding the anticipated closing of the offering, which is subject to various risks and uncertainties outlined in the company’s regulatory filings. The stock has experienced significant volatility, with a beta of 2.16 and a 57% decline over the past six months.
In other recent news, Omeros Corporation reported a net loss of $33.5 million, or $0.58 per share, for the first quarter of 2025, which met analyst expectations. Despite the financial loss, the company has been active in its strategic initiatives. Omeros submitted a Marketing Authorization Application to the European Medicines Agency for narsoplimab, a treatment for hematopoietic stem cell transplant-associated thrombotic microangiopathy. The application includes promising data, such as a 61% response rate in treated patients and a significant improvement in overall survival. H.C. Wainwright maintained its Buy rating for Omeros, citing the European submission as a positive development. Additionally, shareholders elected Arnold C. Hanish and Rajiv Shah, M.D., as Class I directors at the company’s 2025 Annual Meeting. An advisory vote on executive compensation and the ratification of the company’s independent auditor were also approved during the meeting. These developments highlight Omeros’ ongoing efforts to advance its product pipeline and strengthen its corporate governance.
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