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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Omeros Corporation    OMER

OMEROS CORPORATION

(OMER)
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Omeros' : COVID-19 treatment shows promise, shares jump

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08/10/2020 | 08:45am EDT

Aug 10 (Reuters) - Omeros Corp said on Monday its experimental treatment helped six patients, with acute respiratory distress syndrome caused by COVID-19, recover and get discharged from the hospital, sending the drug developer's shares up 60%.

The company said it was in talks with the U.S. government for potential funding to speed up large-scale manufacturing for broader availability of the treatment, narsoplimab.

All six patients had underlying conditions and needed mechanical ventilation before treatment, Omeros said.

Acute respiratory distress syndrome, or ARDS, causes fluid to collect in the lungs, depriving organs of oxygen. COVID-19 patients with ARDS often require intensive care.

The small study was done in Italy's Bergamo, the initial epicenter of COVID-19 in Europe, under a compassionate use program following requests from doctors at the Papa Giovanni XXIII hospital.

Narsoplimab is a human monoclonal antibody that targets damage to endothelial cells, which serves as a general marker of both COVID-19 and recovery.

The therapy has already been studied in a pivotal trial for a stem cell transplant-related complication and in late-stage studies for two kidney conditions. Narsoplimab was also granted U.S. FDA's breakthrough tag for these indications, but the agency has not yet approved the drug for any use.

The U.S. government, under its "Operation Warp Speed" initiative aimed at accelerating access to vaccines and treatments to fight COVID-19, has so far agreed to invest more than $7 billion in vaccines and has funded more than 30 projects, including those for diagnostics and treatments.

Omeros did not provide further details of its talks with the U.S. government. It did not immediately respond to a Reuters request for additional comments.

The company's shares rose as much as 80% to a two-year high of $25.46, before trading at $22.18. (Reporting by Vishwadha Chander in Bengaluru; Editing by Arun Koyyur and Shounak Dasgupta)

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Financials (USD)
Sales 2020 72,1 M - -
Net income 2020 -127 M - -
Net Debt 2020 - - -
P/E ratio 2020 -5,57x
Yield 2020 -
Capitalization 756 M 756 M -
Capi. / Sales 2020 10,5x
Capi. / Sales 2021 7,47x
Nbr of Employees 258
Free-Float 95,6%
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 24,50 $
Last Close Price 12,31 $
Spread / Highest target 176%
Spread / Average Target 99,0%
Spread / Lowest Target -2,52%
EPS Revisions
Managers
NameTitle
Gregory A. Demopulos Chairman, President & Chief Executive Officer
Michael A. Jacobsen Chief Financial Officer, Treasurer & VP
George A. Gaitanaris Chief Scientific Officer & Vice President-Science
J. Steven Whitaker Chief Medical Officer
Ray Aspiri Independent Director
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