Omeros Corporation (NASDAQ: OMER)
Omeros Corporation is having a great start to the trading session today after reporting strong Phase 2 clinical data. With the strong data in mind, investors pushed the stock toward the top, and as is almost always the case, our partners at Trade Ideas were the first to alert us of the movement. At the moment (10:04), OMER is trading at $15.20 per share after a gain of $0.66 per share or 4.54% thus far today.
OMER Announces Positive Phase 2 Data
As mentioned above, Omeros Corporation is having an incredibly strong start to the trading session today after releasing positive Phase 2 clinical data. The data comes from a Phase 2 trial surrounding OMS721, an experimental treatment designed for serious kidney disorders. The data that was released today corroborate and expand on positive trial results that were reported in Q4 16. Because the results were overwhelmingly positive, the company recently met with the FDA to discuss moving into the Phase 3 development program. In a statement, Geoffrey Block, M.D., Director of Clinical Research at Denver Nephrology, had the following to offer with regard to the results OMER reported…
“The clinical response in my IgA nephropathy patients treated with OMS721 are truly impressive… These are patients with significant renal impairment who had not responded to steroid therapy. Each OMS721-treated patient substantially improved while markedly reducing or stopping steroid use. Equally impressive is that, after OMS721 treatment was completed, a legacy effect of continued improvement was observed in each patient. I look forward to participating in the Phase 3 clinical trial and working with Omeros to make this important drug broadly available to patients.”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on OMER. In particular, we’re interested in following the company through the Phase 3 trial of OMS721 and hopefully the approval of the treatment. Nonetheless, we’ll continue to follow the story closely and bring you the news as it breaks.
What Do You Think?
Where do you think OMER is headed moving forward? Join the discussion in the comments below or on StockTwits!
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[Image Courtesy of Max Pixel]