NOV 27, 2012
Omeros Corporation reported a net loss of $13.3 million for the third quarter of 2012, compared to a net loss of $6.5 million for the same period in 2011.
The Seattle-based clinical stage biopharmaceutical company did not comment directly on the loss but did report that its total operating expenses for the quarter were $14.5 million, compared to $7.2 million for the same period in 2011. It attributed the increase in operating expenses primarily to a one-time litigation settlement payment of $3.95 million. As of Sept. 30, 2012, Omeros had cash, cash equivalents and short-term investments of $30.6 million.
In March, Omeros reported positive phase 3 results for its combination anti-inflammatory, mydriatic agent, OMS302.
"Now with positive results from both of our two pivotal phase 3 clinical trials evaluating OMS302, Omeros is becoming a commercial company," said Gregory A. Demopulos, MD, chairman and chief executive officer of Omeros. "We are working to file an NDA in the first quarter of 2013 followed by an MAA in mid-year, and we look forward to releasing data from two more clinical programs before year-end - our Phase 3 meniscectomy and our Phase 1 PDE10 programs. Our clinical pipeline is expanding, and as many as three additional programs could enter the clinic in 2013. We continue to execute on our strategy of creating multiple opportunities for success."