Omeros Drug Sales Skyrocket, Shares Soar

Omeros Corporation's stock experienced a significant rise in after-hours trading after reporting robust second-quarter financial results. The company's newly launched rare-disease drug, YARTEMLEA, demonstrated exceptional sales growth, with gross revenues reaching $32.2 million for the quarter. This marks a near threefold increase from the $11.1 million reported in the first quarter.

Net product revenue for YARTEMLEA exceeded analyst expectations, contributing to an adjusted net income of $1.8 million, or $0.02 per share. This financial performance contrasts with prior estimates of a loss per share. As of June 30, Omeros reported having $132 million in cash and short-term investments.

Further bolstering the drug's market position, U.S. Medicare officials approved additional payments for hospitals utilizing YARTEMLEA, effective October 1, 2026. This development is anticipated to accelerate the adoption of YARTEMLEA, the first FDA-approved treatment for transplant-associated thrombotic microangiopathy (TA-TMA).

Omeros is also actively pursuing regulatory approval in Europe, seeking re-examination of a negative opinion from the European Medicines Agency's committee regarding YARTEMLEA's use in TA-TMA within the region. The company is simultaneously exploring other potential applications for the drug.

To fortify its balance sheet, Omeros utilized YARTEMLEA's cash flow to repurchase $30.5 million in principal amount of its 2029 convertible notes. This action reduced outstanding principal by 43% and eliminated nearly $9 million in future interest payments. The company also bought back approximately 489,000 shares of common stock for $5.7 million.