Omeros(NASDAQ) OMER

Omeros develops medicines to treat rare blood disorders and addiction. Its main product helps patients recover from dangerous complications after stem cell transplants. The company also creates therapies for lung injuries and cancer.

Fighting Rare Diseases

• YARTEMLEA: Approved treatment for complications after stem cell transplants; blocks a specific immune pathway while keeping others active.
• Complement Inhibitors: Experimental drugs designed to stop the body's immune system from attacking healthy tissue.
• Addiction Therapies: Orally administered compounds targeting the brain's reward system to treat cocaine and nicotine addiction.
• Oncology Program: Engineered biologics intended to find and kill blood cancer cells while sparing healthy ones.

Strategic Partnerships and Pipeline

• Sold global rights for the drug zaltenibart to Novo Nordisk in November 2025 for $240 million upfront.
• Became eligible for up to $1.8 billion in future milestone payments and royalties from Novo Nordisk.
• Launched YARTEMLEA in the United States in January 2026 for adult and pediatric use.
• Formed the Omeros Oncology Clinical Steering Committee in April 2025 to guide blood cancer trials.
• Partnered with the National Institute on Drug Abuse to fund studies for cocaine use disorder.

The Science of Better Immunity

Omeros leads in complement science, which involves controlling a part of the immune system that can cause severe inflammation. By targeting specific enzymes, the company creates treatments that preserve essential immune functions needed to fight infections.

Tracking the Money

• Net income reached $86.5 million in Q4 2025, up 375.7% year-over-year after turning positive.
• Operating income was -$29.1 million in Q4 2025, narrowing by 18.4% from the previous year.
• Market capitalization grew to $1.1 billion in Q4 2025, up 89.8% from Q4 2024.
• Free cash flow was -$39.8 million in Q4 2025, deepening by 37.4% from -$29 million the prior year.
• Common stock outstanding reached 71,996,171 shares as of March 27, 2026.

Bottom Line

Omeros has transitioned from a research firm to a commercial-stage company with its first approved drug. Its recent asset sale provides significant capital to fund a diverse pipeline of immune and oncology treatments.