August 11, 2017
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Omeros reports $14.4 million loss in second quarter
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Omeros reported a $14.4 million net loss, or $0.33 per share, in the second quarter of 2017 compared with a net loss of $12.6 million, or $0.32 per share, in 2016’s second quarter.
Total revenues increased from $10 million a year ago to $17.2 million, all related to sales of Omidria, according to a company press release. Omidria revenue increased 40% on a sequential quarter-over-quarter basis.
Total costs and expenses for the quarter were $29.1 million compared with $20.9 million in 2016. The increase was mainly attributed to clinical research and development costs associated with a product candidate for IgA nephropathy.
The company had $29.7 million in cash and cash equivalents as of June 30.