We have not revisited Omeros (OMER) since mid-July. The stock trades pretty much at the same levels as our last piece. However, the company has seen several positives since our last look at this promising biotech concern which shareholders have not been rewarded for yet. The company does seem to be heading into the close of this surreal year on several high notes. We update our investment thesis on Omeros in the paragraphs below.
Omeros is based out of Seattle. The stock currently trades just over $14.00 a share and sports a market cap of approximately of just under $875 million. The company’s product portfolio consists largely of two assets. One of which is an approved product and the other a late stage drug candidate targeting numerous rare disease indications.
Omidria is approved to prevent miosis in cataract surgery and to reduce postoperative pain. The compound reduces the need for opioids, pupil-expansion devices and postoperative steroids. Omidria has been on the market for several years.
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