Omeros Corporation (NASDAQ:OMER) announced that it has entered into an amendment to its existing credit facility with Oxford Finance LLC (“Oxford”) and East West Bank (“East West”) to provide the Company with an additional $20 million in unrestricted cash by funding the remaining tranches of the facility.Omeros will issue warrants to the lenders, exercisable for seven years for up to 100,602 shares of the Company’s common stock at an exercise price per share of $9.94, the closing price of the Company’s stock on May 16, 2016. All loan payments will be interest-only until August 1, 2017. The final payment fee rate on the $20 million borrowed will increase from 5.25% to 6.25%, reflecting the accelerated draw-down of these additional funds. Omeros expects funding will occur on May 18, 2016.

“We are pleased to provide additional funds to Omeros,” said Christopher A Herr, senior managing director at Oxford Finance. “Our partnership with Omeros is long-standing, and we are confident in the Company’s ability to achieve success with its first product, OMIDRIA®, and bring additional therapies to market that will address significant unmet needs.”

“We appreciate our partners, Oxford and East West, funding the two additional $10-milliontranches,” stated Gregory A. Demopulos, M.D., chairman and chief executive officer of Omeros. “Together with growing OMIDRIA® sales, the amount provided will support further development of our pipeline.” (Original Source)

Shares of Omeros closed yesterday at $9.94, up $0.03 or 0.30%. OMER has a 1-year high of $30.23 and a 1-year low of $8.90. The stock’s 50-day moving average is $13.77 and its 200-day moving average is $13.23.

On the ratings front, Omeros has been the subject of a number of recent research reports. In a report issued on May 10, Maxim Group analyst Jason Kolbert reiterated a Buy rating on OMER, with a price target of $30, which represents a potential upside of 201.8% from where the stock is currently trading. Separately, on March 8, Wedbush’s Liana Moussatos maintained a Buy rating on the stock and has a price target of $62.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason Kolbert and Liana Moussatos have a total average return of -15.8% and 1.3% respectively. Kolbert has a success rate of 28.0% and is ranked #3831 out of 3833 analysts, while Moussatos has a success rate of 31.8% and is ranked #1301.

Omeros Corp. is a clinical stage biopharmaceutical company, which engages in the discovering, developing and commercializing products targeting inflammation, coagulopathies and disorders of the central nervous system. Its products are derived from its proprietary PharmacoSurgery platform designed to improve clinical outcomes of patients undergoing arthroscopic, ophthalmological, urological and other surgical and medical procedures. The company also has a deep and diverse pipeline of preclinical programs as well as a platform capable of unlocking new drug targets. Omeros was founded by Gregory A. Demopulos and Pamela Pierce Palmer on June 16, 1994 and is headquartered in Seattle, WA.