Omeros posts $53.5 million yearly net loss

Omeros reported a net loss of $16.6 million, or $0.34 per share, in the fourth quarter of 2017 compared with a net loss of $19.6 million, or $0.45 per share, in 2016’s final quarter, the company announced in a press release.

The company’s full-year financial report included a net loss of $53.5 million, or $1.17 per share, compared with a net loss of $66.7 million, or $1.65 per share, in 2016.

Revenues for the quarter, stemming solely from the sale of Omidria, were $13.8 million, an increase of $900,000 over 2016’s fourth quarter. Full-year revenues increased 55.8% from $41.6 million in 2016 to $64.8 million in 2017.

Operating costs and expenses increased from $24.8 million to $27.9 million for the quarter and from $95.9 million to $108.7 million for the year. Higher third-party manufacturing costs and legal expenses were responsible for the increases, the release said.

Omeros had $83.7 million in cash, cash equivalents and short-term investments as of Dec. 31.