Pulling SEC filings + quote and writing the call…

OMEROS CORP
Next earnings Aug 12, 2026 · consensus $0.17 EPS, $13.0M rev
Last earnings -2.6% on 2026-05-13
Newly-approved YARTEMLEA plus $240M Novo upfront resets the story, but negative equity and a single-product bet keep it speculative.
Sources: SEC EDGAR (CIK 0001285819, latest 10-Q filed 2026-05-13) · EODHD · analysis by claude-code · as of 6/25/2026, 3:05:47 PM.
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Omeros is in the middle of a genuine transformation. The 10-K confirms FDA approved YARTEMLEA (narsoplimab-wuug) for TA-TMA on December 23, 2025, with commercial sales starting January 2026 — this is the company's only commercialized product and the entire near-term thesis. In parallel, the November 25, 2025 sale of zaltenibart (MASP-3) to Novo Nordisk delivered a $240.0M upfront cash payment with up to $510.0M in further milestones, which materially de-risks the balance sheet even though the SEC XBRL snapshot shows cash & equivalents of only $9.66M at FY2025 (the cash inflow is reflected in current assets jumping to $216M, up 60.8% YoY, and long-term debt falling 46.7% to $87.9M).
The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating income | -$174M | -$163M | -$165M | -$167M | -$123M |
| Net income | $194M | $47.4M | -$118M | -$157M | -$3.35M |
| Diluted EPS | $3.12 | $0.76 | -$1.88 | -$2.70 | -$0.05 |
| Net margin | — | — | — | — | — |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Annual meeting vote results disclosed; routine governance, no financial impact
Item 8.01 other-events disclosure, likely YARTEMLEA launch or pipeline update
Q1'26 10-Q: initial YARTEMLEA launch quarter (commercial sales began Jan 2026)
Q1'26 10-Q: initial YARTEMLEA launch quarter (commercial sales began Jan 2026)
DEF 14A proxy filing for annual meeting; routine governance
FY25 10-K: FDA nod for YARTEMLEA + $240M Novo deal; debt cut 47%, cash boosted
FY25 10-K: FDA nod for YARTEMLEA + $240M Novo deal; debt cut 47%, cash boosted
Preliminary results/business update following late-Dec FDA approval of YARTEMLEA
FDA approved YARTEMLEA (narsoplimab) for TA-TMA on Dec 23 — first commercial product
1072 tracked peers · median
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.
Last 90 days: 0 open-market buys · 1 sale
| 2026-05-22 | Cable Thomas J. Director | Exercise | 7.50K @ $10.84 | $81.3K |
| 2026-05-22 | Cable Thomas J. Director | Sell | 7.50K @ $11.61 | $87.0K |