Omeros Corporation is having an incredible day in the market today after announcing positive data from a Phase 2 test looking into the company’s thrombotic microangiopathies treatment candidate. Today, we’ll take a look at the data, how the market reacted, and what we can expect to see moving forward.
Phase 2 Data Excites Omeros Investors
As mentioned above, Omeros announced positive phase 2 study data from its thrombotic microangiopathies (TMA) treatment candidate. The data showed that their candidate, OMS721 is proving to be effective and well tolerated. TMAs are are a rare group of life-threatening clotting disorders and a treatment for these disorders is currently in high demand. Following the release of the data, Gregory A. Demopulos, M.D., CEO of OMER had the following to say…
“We are excited by the data from this Phase 2 clinical trial with OMS721, both with respect to aHUS and TTP patients…”
Through the course of testing, the company reported that in the mid-dose cohort, two patients demonstrated a 47% increase in mean platelet count and an 86% decrease in red blood cell fragmentation.
How The Market Reacted To The News
OMER is having an incredible day in the market today; as we would expect from any biotech stock that releases positive trial data. However, today’s growth with OMER is far beyond average. As a matter of fact, the stock is currently (12:26) trading at $25.80 per share after a massive gain of 77.32% so far today.
What To Expect Moving Forward
In my opinion, there are two different views here; depending on how far into the future you’d like to look…
Tomorrow – Tomorrow, I’m expecting to see declines in the stock. The reality is that price movement in the market tends to happen through a series of overreactions. Therefore, today’s gains are pushing the stock higher than it should be and we can expect a slight correction tomorrow; bringing the stock price down to a more sustainable rate before growth can continue.
Beyond – After tomorrow, I’m expecting that we’ll start to see a more long term growth trend start to emerge. The reality is that Phase 2 data was incredibly positive; which gives investors a reason to be excited.
What Do You Think?
Where do you think OMER is headed and why? Let us know in the comments below!