Omeros Corporation (NASDAQ:OMER), a biopharmaceutical company committed to discovering, developing and commercializing both small-molecule and protein therapeutics for large-market as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system, announced further expansion of its OMS721 compassionate use program to Finland. OMS721 is Omeros’ lead human monoclonal antibody in its mannan-binding lectin-associated serine protease-2 (MASP-2) program for the treatment of thrombotic microangiopathies (TMAs), including atypical hemolytic uremic syndrome (aHUS).
Based on review of OMS721 data, Finnish physicians requested access to OMS721 under a Special License, granted by the Finnish regulatory authorities, to treat a patient with aHUS. The patient was previously treated with Soliris® (eculizumab) but was determined to not have an adequate response, continuing to display signs of active aHUS. The patient is expected to begin treatment with OMS721 next month.
In other recent compassionate use, OMS721 was provided to a young patient on long-term dialysis. Because of her active aHUS, she was not healthy enough for kidney transplantation. Following treatment with OMS721, her clinical status stabilized and the investigator has determined that her aHUS is no longer an impediment to kidney transplantation. Omeros is working with her physicians to assure availability of OMS721 throughout her transplantation and postoperatively.
“Omeros is committed to continue working with physicians to enable patients with aHUS and other TMAs to receive OMS721,” stated Gregory A. Demopulos, M.D., chairman and chief executive officer of Omeros. “We are helping patients who, for whatever reason, have not adequately responded to or cannot access Soliris and need a different option to treat these devastating diseases. It is gratifying to see that, following OMS721 treatment, the dialysis-dependent patient is considered eligible for kidney transplantation, and we look forward to helping the Finnish patient for whom Soliris was ineffective. As physician requests increase, we continue to expand our compassionate use program, making OMS721 available to patients who need it.” (Original Source)
Shares of Omeros closed yesterday at $10.09. 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 $10.87 and its 200-day moving average is $13.28.
On the ratings front, Needham analyst Serge Belanger maintained a Buy rating on OMER, with a price target of $30, in a report issued on November 10. The current price target represents a potential upside of 197.3% from where the stock is currently trading. According to TipRanks.com, Belanger has a total average return of 10.4%, a 50.0% success rate, and is ranked #576 out of 3664 analysts.
Omeros Corp is engaged in the discovery, development and commercialization of pharmaceutical products for inflammation, coagulopathies and disorders of the central nervous system.