Omeros Stock Remains Higher On Promising Kidney Drug Trial Data

Cantor Fitzgerald analysts maintain their Buy rating on Omeros Corporation OMER after promising OMS721 data in kidney disorders and associated improvement of thrombotic microangiopathies (TMA) blood markers.

Following promising OMS721 data in kidney disorders, Omeros added that the drug improved TMA blood markers in 3/5 hematopoietic stem cell transplantation (HSCT) patients.

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“Platelet count and haptoglobin levels were increased, while mean LDH levels have decreased from baseline. These results were as robust as those reported last year from two aHUS patients, lending confidence to the assumption of broad utility of OMS721 in TMAs,” analyst Elemer Piros wrote in a note.

As such, Omeros could pursue three distinct indications with OMS721 in pivotal trials beginning in the fourth quarter. Piros expects the company’s deep pipeline to deliver steady news flow over the next 12-24 months.

At time of writing, shares of Omeros rose 5.89 percent to $8.06. Piros has a price target of $21.