Omeros Corporation (NASDAQ: OMER) is having an overwhelmingly strong day in the market today, and for good reason. The company announced data from a key clinical trial, leading to excitement among investors and sending the stock screaming for the top. Today, we’ll talk about the data, what we’re seeing from the stock, and what we’ll be watching for with regard to OMER ahead.
OMER Announces Positive Clinical Results
As mentioned above, Omeros Corporation is having an overwhelmingly strong day in the market today after announcing strong clinical results form a key trial. In a press release issued early this morning, the company provided new results from an ongoing Phase 2 clinical study. The study is evaluating OMS721 as a treatment for patients with hematopoietic stem cell transplant-associated thrombotic microangiopathy, also known as HCT-TMA.
In the release, OMER said that the data demonstrate an increase in median overall survival in HCT-TMA patients that were treated with OMS721 when compared to a matched historical control. The company said that historical control data are typically used for comparison when it is impractical or unethical to include a placebo arm in a clinical trial.
In the release, OMER said that in addition to and consistent with the survival data reported, updated assessments of platelet count, lactate dehydrogenase (LDH) and haptoglobin, all of which are markers of TMA activity, continue to demonstrate clinically meaningful and statistically significant improvements in the HCT-TMA patients that have been treated with the clinical-phase treatment.
In the release, Omeros said that it is scheduled and expects to meet with the United States Food and Drug Administration as well as the European Medicines Agency in order to discuss the most expeditious path toward approval for OMS721 with the HCT-TMA indication. In a statement, Gregory A. Demopulos, M.D., Chairman and CEO at OMER, had the following to offer:
Hematopoietic stem cell transplantation is a potentially curative and life-saving medical procedure but is far too often complicated by thrombotic microangiopathy, for which serious cases carry an unacceptably high mortality rate… The improvement in overall survival in such a seriously ill patient population is compelling. We look forward to working with regulatory agencies to make our drug broadly available to transplant patients as quickly as possible.
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 this articular case, the news proved to be overwhelmingly positive. After all, Omeros produced overwhelmingly positive results from the ongoing Phase 2 study and the treatment looks promising. As a result, it’s no surprise to see that the stock is making a run for the top today. Currently (8:53), OMER is trading at $12.14 per share after a gain of 7.91% 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 story surrounding the continued development of OMS721 as the treatment seems to be generating overwhelmingly promising results. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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