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Omeros sees $7.5 million third-quarter loss

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Omeros reported a net loss of $7.5 million, or $0.16 per share, for the third quarter of 2017 compared with a net loss of $14 million, or $0.34 per share, in the same period of 2016.

Revenues from Omidria (phenylephrine 1% and ketorolac 0.3% injection) rose from $11.3 million in 2016’s third quarter to $21.7 million in 2017’s third quarter, according to a press release.

Total costs and expenses increased from $23.3 million to $26.8 million, which Omeros attributed to increased third-party manufacturing costs for OMS721, higher costs for advancing drug candidates and increased legal costs associated with a lawsuit.

Omeros had cash and cash equivalents of $86.8 million as of Sept. 30.