Omeros Corporation (OMER) saw its loss narrow to $19.63 million, or $0.45 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $19.83 million, or $0.52 a share. Revenue during the quarter surged 93.33 percent to $12.90 million from $6.68 million in the previous year period. Gross margin for the quarter expanded 330 basis points over the previous year period to 97.06 percent.
Operating loss for the quarter was $11.86 million, compared with an operating loss of $18.04 million in the previous year period.
“2016 was a year of significant achievements across a wide range of our programs,” said Gregory A. Demopulos, M.D., chairman and chief executive officer of Omeros. “OMIDRIA sales grew more than two hundred percent over the previous year and our pipeline made equally impressive progress. Our Phase 3 trial in aHUS with our MASP-2 inhibitor OMS721 is underway, and positive OMS721 Phase 2 data in both IgA nephropathy and HSCT-TMA have set the stage for additional Phase 3 registration trials this year. MASP-3, targeted by our OMS906 program, was shown to be the key activator of the alternative pathway. Both OMS906 and our PDE7 inhibitor OMS527 are advancing quickly toward the clinic, and our GPCR program continues to generate exciting data over broad therapeutic areas, including
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