UPDATE: Omeros Beats Q4 Estimates

Omeros Corporation OMER reported a narrower-than-expected loss for the fourth quarter on Monday. The Seattle, Washington-based company posted a quarterly net loss of $20.7 million, or $0.61 per share, versus a year-ago net loss of $1.8 million, or $0.05 per share. The latest quarter results included non-cash expenses of $0.12 per share, while the year-ago results included non-cash expenses of $0.09 per share. The year-ago period also included a $0.41 per share reduction of loss related to receiving a nonrecurring payment upon litigation settlement. Its revenue rose to $180,000 in the fourth quarter, up from $169,000, in the year-ago period. However, analysts were expecting a loss of $0.62 per share on revenue of $90.00 thousand. Operating expenses increased to $20.2 million from $14.1 million. At December 31, 2014, Omeros had $6.9 million in cash and cash equivalents and short-term investments. For 2015, Omeros expects operating expenses of $110 million to $120 million and non-cash expenses of around $15 million. Omeros shares fell 2.61% to $23.50 in the after-hours trading session.