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Omeros reports $12.6 million net loss in second quarter

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Omeros reported a net loss of $12.6 million, or $0.32 per share, in the second quarter compared with a net loss of $16.7 million, or $0.44 per share, in the second quarter of 2015, according to a press release.

Revenues totaled $10 million, which were related to sales of Omidria (phenylephrine 1%/ketorolac 0.3%). Omidria revenues totaled $3.1 million a year ago.

Omidria revenue increased 38% from the first quarter due to continued acceptance of and demand for the drug.

Costs and expenses totaled $20.9 million compared with $19.2 million in the same quarter of 2015. The increase was attributed to the legal costs of a lawsuit and higher sales and marketing costs, offset by a decrease in research and development costs.