Omeros Corporation (NASDAQ: OMER) is having an overwhelmingly strong start to the trading session this morning. However, if you do some digging on Yahoo! Finance or the investor relations website for the company, you’ll see that no news was released that is company specific. Nonetheless, there’s a good reason for the gains today, as American congressional officials have released a new spending package. Today, we’ll talk about the news, what we’re seeing from the stock, and what we’ll be watching for with regard to OMER ahead.
OMER Gains On Medicare Spending Bill
As mentioned above, Omeros is having an overwhelmingly strong start to the trading session after American congressional officials released a Medicare spending bill. The bill – a 2,000-page spending package – may be a complicated policy, but it does represent a big win for OMER. At the end of the day, the bill allows for 2 additional years of extra Medicare reimbursement for its cataract surgery drug known as Omidria.
Strangely enough, while the new bill proves to be favorable to Omeros and its product, nearly no other drug companies will benefit from the bill. In fact, the OMER has such a unique advantage offered through the bill that Adam Feuerstein called it the result of special-interest lobbying.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In the case of Omeros, the news proved to be overwhelmingly positive. After all, this new legislation will expand the sales of its Omidria product in a massive way. So, it’s no surprise to see that excited investors are sending the stock toward the sky. Currently (8:29), OMER Is trading at $15.40 per share after a gain of $3.76 per share (32.30%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on OMER. In particular, we’re interested in following the sales surrounding their Omidria product to see how the new bill will relate to stronger revenues for the company. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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