Omeros Corp. Files Q2 2024 10-Q

TL;DR

OMER Q2 10-Q filed. Financials and stock options detailed.

AI Summary

Omeros Corp. reported its Q2 2024 results for the period ending June 30, 2024. The company's financial filings indicate ongoing operations and stock option activity. Specific financial figures and operational details are available within the full report.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Omeros Corp., crucial for understanding the company's trajectory and making informed investment decisions.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Omeros Corp. faces inherent risks related to drug development, regulatory approvals, and market competition, which are typical for the industry.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which the report is filed.)
• 20240807 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• OMEROS CORP (company) — Filer
• Gregory A. Demopulos (person) — Director/Officer
• Thomas J. Cable (person) — Director/Officer
• 201 Elliott Avenue West, Seattle, WA 98119 (location) — Business Address

FAQ

Key Financial Figures

• $0.01 — h registered) Common Stock, par value $0.01 per share OMER The Nasdaq Stock Mar

Filing Documents

• omer20240630_10q.htm (10-Q) — 1180KB
• ex_707092.htm (EX-10.3) — 39KB
• ex_679184.htm (EX-31.1) — 12KB
• ex_679185.htm (EX-31.2) — 13KB
• ex_679186.htm (EX-32.1) — 6KB
• ex_679187.htm (EX-32.2) — 6KB
• 0001437749-24-025181.txt ( ) — 6996KB
• omer-20240630.xsd (EX-101.SCH) — 72KB
• omer-20240630_cal.xml (EX-101.CAL) — 51KB
• omer-20240630_def.xml (EX-101.DEF) — 456KB
• omer-20240630_lab.xml (EX-101.LAB) — 380KB
• omer-20240630_pre.xml (EX-101.PRE) — 484KB
• omer20240630_10q_htm.xml (XML) — 1164KB

— Financial Information

Part I — Financial Information 5 Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 5 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Operations and Comprehensive Loss 6 Condensed Consolidated Statements of Stockholders' Equity (Deficit) 7 Condensed Consolidated Statements of Cash Flows 8 Notes to Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 25 Item 4.

Controls and Procedures

Controls and Procedures 25

— Other Information

Part II — Other Information 26 Item 1.

Legal Proceedings

Legal Proceedings 26 Item 1A.

Risk Factors

Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 3. Default Upon Senior Securities 26 Item 4. Mine Safety Disclosures 26 Item 5. Other Information 26 Item 6. Exhibits 27

Signatures

Signatures 28 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS OMEROS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) (unaudited) June 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 2,120 $ 7,105 Short-term investments 156,792 164,743 OMIDRIA contract royalty asset, current 29,665 29,373 Receivables 8,080 8,096 Prepaid expense and other assets 6,273 8,581 Total current assets 202,930 217,898 OMIDRIA contract royalty asset, non-current 133,428 138,736 Right of use assets 16,868 18,631 Property and equipment, net 2,034 1,950 Restricted investments 1,054 1,054 Total assets $ 356,314 $ 378,269 Liabilities and shareholders' equity (deficit) Current liabilities: Accounts payable $ 6,502 $ 7,712 Accrued expenses 27,966 31,868 OMIDRIA royalty obligation, current 19,434 8,576 Lease liabilities, current 5,573 5,160 Total current liabilities 59,475 53,316 Convertible senior notes, net 96,888 213,155 Long-term debt, net 94,506 — OMIDRIA royalty obligation, non-current 212,323 116,550 Lease liabilities, non-current 15,632 18,143 Other accrued liabilities, non-current 2,088 2,088 Commitments and contingencies (Note 10) Shareholders' equity (deficit): Preferred stock, par value $ 0.01 per share, 20,000,000 shares authorized; none issued and outstanding at June 30, 2024 and December 31, 2023. — — Common stock, par value $ 0.01 per share, 150,000,000 shares authorized at June 30, 2024 and December 31, 2023; 57,944,159 and 61,128,597 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively. 579 611 Additional paid-in capital 721,578 727,936 Accumulated deficit ( 846,755 ) ( 753,530 ) Total shareholders' deficit ( 124,598 ) ( 24,983 ) Total liabilities and shareholders' equity (deficit) $ 356,314 $ 378,269 See accompanying Notes to Condense

View Full Filing

View this 10-Q filing on SEC EDGAR