Omeros Corp. Files Q3 2024 10-Q Report

TL;DR

OMER Q3 10-Q filed. Check financials.

AI Summary

Omeros Corp. reported its Q3 2024 results, with the filing dated November 13, 2024. The company's fiscal year ends on December 31st. Key financial data and operational details for the period ending September 30, 2024, are presented in this 10-Q filing.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for Omeros Corp., crucial for understanding the company's current standing and future prospects.

Risk Assessment

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

Key Numbers

• 2024-09-30 — Period End Date (Financial reporting period)
• 2024-11-13 — Filing Date (Date the report was submitted to the SEC)
• 1231 — Fiscal Year End (Company's annual accounting period end)

Key Players & Entities

• OMEROS CORP (company) — Filer
• 201 ELLIOTT AVENUE WEST (location) — Business and Mail Address
• SEATTLE (location) — City
• WA (location) — State
• 20240930 (date) — Period of Report
• 20241113 (date) — Filing Date

FAQ

Key Financial Figures

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

Filing Documents

• omer20240930_10q.htm (10-Q) — 1242KB
• ex_735126.htm (EX-10.1) — 39KB
• ex_711207.htm (EX-31.1) — 13KB
• ex_711208.htm (EX-31.2) — 13KB
• ex_711209.htm (EX-32.1) — 6KB
• ex_711210.htm (EX-32.2) — 6KB
• ex_735126img001.jpg (GRAPHIC) — 52KB
• ex_735126img002.jpg (GRAPHIC) — 49KB
• 0001437749-24-034903.txt ( ) — 7276KB
• omer-20240930.xsd (EX-101.SCH) — 74KB
• omer-20240930_def.xml (EX-101.DEF) — 466KB
• omer-20240930_lab.xml (EX-101.LAB) — 387KB
• omer-20240930_pre.xml (EX-101.PRE) — 491KB
• omer-20240930_cal.xml (EX-101.CAL) — 51KB
• omer20240930_10q_htm.xml (XML) — 1187KB

— 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) September 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 1,521 $ 7,105 Short-term investments 121,636 164,743 OMIDRIA contract royalty asset, current 29,243 29,373 Receivables 6,394 8,096 Prepaid expense and other assets 6,127 8,581 Total current assets 164,921 217,898 OMIDRIA contract royalty asset, non-current 129,488 138,736 Right of use assets 15,933 18,631 Property and equipment, net 1,939 1,950 Restricted investments 1,054 1,054 Total assets $ 313,335 $ 378,269 Liabilities and shareholders' equity (deficit) Current liabilities: Accounts payable $ 7,723 $ 7,712 Accrued expenses 23,246 31,868 OMIDRIA royalty obligation, current 18,884 8,576 Lease liabilities, current 5,770 5,160 Total current liabilities 55,623 53,316 Convertible senior notes, net 97,032 213,155 Long-term debt, net 92,427 — OMIDRIA royalty obligation, non-current 205,089 116,550 Lease liabilities, non-current 14,242 18,143 Other accrued liabilities, non-current 3,094 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 September 30, 2024 and December 31, 2023. — — Common stock, par value $ 0.01 per share, 150,000,000 shares authorized at September 30, 2024 and December 31, 2023; 57,949,760 and 61,128,597 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively. 579 611 Additional paid-in capital 724,236 727,936 Accumulated deficit ( 878,987 ) ( 753,530 ) Total shareholders' deficit ( 154,172 ) ( 24,983 ) Total liabilities and shareholders' equity (deficit) $ 313,335 $ 378,269 See accompanyi

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