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Omeros reports net loss of $73.7 million in 2014

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Omeros reported a net loss of $73.7 million, or $2.22 per share, in 2014 compared with $39.8 million, or $1.39 per share, in 2013, according to a press release.

In the fourth quarter, net loss totaled $20.7 million, or $0.61 per share, compared with $1.8 million, or $0.05 per share, in the same period of 2013.

Total revenue was $539,000 in 2014 compared with $1.6 million in 2013. The decrease was primarily due to lower revenue recognized from GPCR program funding agreements.

Operating expenses totaled $70.5 million in 2014 compared with $52.1 million in 2013. The increase was primarily attributed to preparations for the U.S. commercial launch of Omidria (phenylephrine and ketorolac injection 1%/0.3%) and clinical trials.