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Omeros reports $13.3 million third-quarter net loss

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Omeros reported a net loss of $13.3 million for the third quarter, compared to a loss of $6.5 million for the same period last year, according to a press release.

For the 9 months that ended Sept. 30, the company reported a net loss of $30.7 million, compared with $18.3 million for the first three quarters last year.

The company’s third-quarter total operating expenses increased from $7.2 million in 2011 to $14.5 million this year, partially related to a one-time litigation settlement of $3.95 million that will be reimbursed by an insurance policy, according to the release. Operating expenses also increased due to phase 3 clinical trials for OMS302, an anti-inflammatory and mydriatic agent.

The company reported revenues of $1.4 million for the third quarter vs. $987,000 in the same quarter of 2011. Total assets reached $32.8 million as of Sept. 30, compared with $27 million at the end of 2011.