SEATTLE, March 15, 2011 /PRNewswire/ — Omeros Corporation
OMER), a biopharmaceutical company committed to discovering,
developing and commercializing products focused on inflammation,
bleeding and disorders of the central nervous system, today
announced financial results for the fourth quarter and year ended
December 31, 2010.
Financial ResultsTotal operating expenses for the three
months ended December 31, 2010 were $9.5 million, compared to $5.7
million for the same period in 2009. Total operating expenses for
the year ended December 31, 2010 were $32.2 million, compared to
$22.2 million in 2009. The increase in operating expenses for the
fourth quarter and year ended December 31, 2010 was primarily due
to increased research and development expense related to the
Company’s Phase 3 clinical program evaluating OMS103HP in
arthroscopic ACL reconstruction as well as its Phase 2b clinical
trial evaluating OMS302 in patients undergoing cataract surgery.
The increase was also due to expenses related to the advancement of
Omeros’ preclinical-stage pipeline and increased costs associated
with being a public company.
For the fourth quarter ended December 31, 2010, Omeros
reported a net loss of $7.2 million, or $0.34 per share, compared
to a net loss of $5.6 million, or $0.28 per share, for the same
period in 2009. For the year ended December 31, 2010, the Company
reported a net loss of $29.3 million, or $1.37 per share, compared
to a net loss of $21.1 million, or $2.92 per share, in
At December 31, 2010, Omeros had cash and cash equivalents
and short-term investments of $42.0 million, compared with $60.3
million as of December 31, 2009.
“We have reported significant progress across our development
programs in recent months, including obtaining substantial funding
for our GPCR program, successfully completing a Phase 1/2 program