Market Overview

Omeros Stock Lifted By Positive Phase 2 Clinical Data

Omeros Stock Lifted By Positive Phase 2 Clinical Data

Omeros Corporation (NASDAQ: OMER) reported positive initial results for its Phase 2 trial of OMS721, a complement inhibitor for renal diseases.

Cantor Fitzgerald’s Elemer Piros reiterated a Buy rating on the company, with a price target of $21.

Effective Candidate

“In two out of the three nephropathy conditions tested, there are encouraging signals of efficacy for OMS721,” Piros mentioned.

So far, no drug has been approved and no product has proven to work in steroid-dependent populations. The patients' tests had more than 1,000 mg protein in their urine and were heading for end-stage renal disease and transplant.

Related Link: Exclusive: SunTrust Managing Director Goes Over Sarepta Therapeutics' Story

The Phase 2 study results revealed that two “IgA nephropathy (IgAN) patients achieved significant decreases in urine albumin-to-creatinine ratio (uACR)” at the end of treatment, with further decrease at the end of the follow up.

Unprecedented Results

In addition, a reduction in protein excretion was achieved in the patients, and Piros stated, “These patients achieved partial responses, or greater than 50 percent reduction in 24-hour urine protein excretion and/or protein excretion less than 1,000mg/day.”

Stating that the results were unprecedented, the analyst noted that these results highlighted a compelling potential opportunity in IgAN.

Additional data is expected at a kidney meeting in June 2017.

At last check, Omeros was up 21.93 percent in Monday's pre-market session, trading at $8.95.

Full ratings data available on Benzinga Pro.

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Latest Ratings for OMER

Dec 2019H.C. WainwrightReiteratesBuy
May 2019Cantor FitzgeraldInitiates Coverage OnOverweight
Aug 2018Maxim GroupMaintainsBuyBuy

View More Analyst Ratings for OMER
View the Latest Analyst Ratings


Related Articles (OMER)

View Comments and Join the Discussion!

Posted-In: Analyst Color Biotech Long Ideas News Health Care Reiteration Analyst Ratings Movers Best of Benzinga

Latest Ratings

View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at