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SEATTLE - Omeros Corporation (NASDAQ:OMER) reported better-than-expected fourth quarter earnings on Monday, sending its shares up 5% in after-hours trading.
The biopharmaceutical company posted a net loss of $31.4 million, or $0.54 per share, for Q4 2024, beating analyst estimates of a $0.69 per share loss. This compares to a net loss of $32.2 million, or $0.56 per share, in Q3 2024.
Omeros did not report any revenue for the quarter. However, the company earned $10.1 million in royalties from Rayner’s U.S. sales of OMIDRIA, up from $9.3 million in Q3.
"We are pleased to announce that our narsoplimab BLA for the treatment of TA-TMA was resubmitted to FDA earlier this month, with the MAA slated for European submission in the coming quarter," said Gregory A. Demopulos, M.D., Chairman and CEO of Omeros.
The company expects FDA action on the narsoplimab biologics license application in September 2025. Omeros is also advancing clinical trials for its MASP-3 inhibitor zaltenibart in paroxysmal nocturnal hemoglobinuria.
For the full year 2024, Omeros reported a net loss of $156.8 million, or $2.70 per share, compared to a net loss of $117.8 million, or $1.88 per share, in 2023.
The company ended the year with $90.1 million in cash and short-term investments, down from $171.8 million at the end of 2023. Omeros attributed the decrease partly to $42.7 million in significant cost outlays during 2024.
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