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Omeros Corporation Reports Fourth Quarter and Year-End 2025 Financial Results

OMER
  • Omeros Corporation reported a net income of $86.5 million ($1.22 per share) for the fourth quarter of 2025, compared to a net loss of $31.4 million ($0.54 per share) in the prior year period.
  • For the full year ended December 31, 2025, the company reported a net loss of $3.4 million ($0.05 per share), a significant improvement from the $156.8 million loss in 2024.
  • Fourth quarter results included a $237.6 million net gain from the sale of zaltenibart to Novo Nordisk, offset by a $136.0 million non-cash charge for embedded derivative mark-to-market adjustments.
  • Non-GAAP adjusted net income for the fourth quarter of 2025 was $222.5 million ($3.14 per share), while the full-year non-GAAP adjusted net income was $133.4 million ($2.10 per share).
  • Omeros closed a transaction with Novo Nordisk on November 25, 2025, granting exclusive global rights to zaltenibart for $240.0 million in upfront cash, plus potential milestone payments up to $510.0 million in development approvals, $1.3 billion in sales milestones, and tiered royalties.
  • Proceeds from the Novo Nordisk deal were used to fully repay the $67.1 million senior secured term loan in November 2025 and the $17.1 million 2026 convertible notes at maturity in February 2026.
  • Aggregate debt decreased to $87.9 million at December 31, 2025, down from $164.9 million in 2024, representing a 47% reduction.
  • The company held $171.8 million in cash and short-term investments as of December 31, 2025.
  • The FDA approved YARTEMLEA® (narsoplimab-wuug) on December 23, 2025, for the treatment of TA-TMA in adults and children aged two years and older, with commercial sales commencing in January 2026.
  • A marketing authorization application for YARTEMLEA is under review by the European Medicines Agency, with a decision expected in mid-2026.
  • The company received a $6.24 million grant from NIDA to develop OMS527 for cocaine use disorder, with preclinical studies completed and a meeting with the FDA scheduled to discuss additional information requirements.
  • Preclinical studies for the OncotoX-AML program in nonhuman primates showed a 99% reduction in myeloid progenitor cells with no observed safety signals.
  • The T-CAT platform demonstrated effectiveness against multidrug-resistant organisms in animal models, with a publication expected in the coming weeks.
  • Total operating expenses for 2025 were $122.8 million, down $44.2 million from 2024, driven by timing of manufacturing batches and reduced expenditures to conserve capital.
  • Interest expense decreased by $25.6 million in 2025 compared to 2024, primarily due to non-cash remeasurement adjustments on the OMIDRIA royalty obligation.