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Omeros posts lower net loss in second quarter

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Omeros reported a second quarter net loss of $14.5 million, or $0.29 per share, compared with a net loss of $33.7 million, or $0.70 per share, in the second quarter of 2018, according to a press release.

Revenue increased from $26.8 million in the second quarter compared with $1.7 million in the second quarter of 2018 and $21.8 million in the first quarter of 2019. All second quarter revenue was attributed to sales of Omidria (phenylephrine 1% and ketorolac 0.3% intraocular solution), which is being increasingly used in ASCs and hospitals.

Costs and expenses increased from $32.3 million in the second quarter of 2018 to $36.1 million.

Omeros had cash, cash equivalents and short-term investments of $31.8 million as of June 30.