Omeros Corp.
NASDAQ: OMERPublic · 2 known investors
Omeros is a biopharmaceutical company developing small-molecule and protein therapeutics aimed at diseases with significant unmet medical needs. It focuses on first-in-class drugs targeting novel receptors and enzymes across ultra-orphan to large-market indications.
Also known as OMER · Omeros Corporation
Investors · 2
Company profile
researched Aug 2026Omeros Corporation is a Seattle-based biopharmaceutical company that discovers, develops and commercializes first-in-class protein and small-molecule therapeutics for both large-market and orphan indications. Its therapeutic focus spans complement-mediated diseases — including endothelial injury syndromes, hematopoietic stem cell transplant-associated thrombotic microangiopathy (TA-TMA), IgA nephropathy, lupus nephritis and paroxysmal nocturnal hemoglobinuria — as well as oncology and central nervous system disorders such as cocaine use disorder.
The company's lead product, YARTEMLEA (narsoplimab-wuug), inhibits MASP-2, the effector enzyme of the complement lectin pathway. It is FDA-approved and commercially available in the U.S. for TA-TMA in adult and pediatric patients aged two years and older, and a marketing authorization application for the same indication is under review at the European Medicines Agency. Additional MASP-2 work includes OMS1029, a long-acting antibody that has completed Phase 1 trials and is awaiting selection of a Phase 2 indication, and a small-molecule MASP-2 inhibitor candidate in IND-enabling studies. Zaltenibart (formerly OMS906), a MASP-3 inhibitor targeting the alternative complement pathway, is now developed by Novo Nordisk following its acquisition of the asset.
Other programs include OMS527, an oral phosphodiesterase 7 inhibitor for cocaine use disorder funded by the National Institute on Drug Abuse; OncotoX-AML, a preclinical oncology candidate for acute myeloid leukemia in IND-enabling studies; and the Targeted Complement Activation Therapy (T-CAT) platform, a class of recombinant antibodies designed to kill bacterial, fungal, viral and parasitic pathogens, with an initial focus on multidrug-resistant organisms.
Founding story
Omeros was founded on June 16, 1994 by Gregory A. Demopulos and Pamela Pierce Palmer, and is headquartered in Seattle, Washington.
Business model
Omeros discovers and develops proprietary protein and small-molecule therapeutics and commercializes approved products directly in the U.S., as with the January 2026 launch of YARTEMLEA sold to U.S. wholesalers. It also monetizes pipeline assets through partnering and divestment, exemplified by the asset purchase and licensing agreement under which Novo Nordisk acquired global rights to zaltenibart and related intellectual property, and it offsets development costs with government funding, with the OMS527 cocaine use disorder program fully funded by the National Institute on Drug Abuse.
Revenue is generated from U.S. product sales of YARTEMLEA to wholesalers, reported gross and net of wholesaler distribution fees and chargebacks, supplemented by proceeds from the asset purchase and licensing transaction with Novo Nordisk and by NIDA funding of the OMS527 program.
Traction
YARTEMLEA generated $11.1 million in gross and $9.9 million in net product sales in its first quarter on the market (Q1 2026), with adoption across transplant centers and expanding formulary access. GlobalData profiles the company as having 70+ pipeline drugs, 50+ clinical trials and one marketed drug. Shares traded at $19.25 with a $1.32 billion market capitalization, against a 52-week range of $3.94 to $19.65.
Latest developments
In the first quarter of 2026, the first quarter of YARTEMLEA sales, gross product sales were $11.1 million and net sales $9.9 million. Net income was $56.1 million ($0.78 per share), including a $73.1 million non-cash mark-to-market gain on embedded derivatives tied to the 2029 convertible notes; excluding that item, non-GAAP adjusted net loss was $17.1 million ($0.24 per share). Cash and short-term investments totaled $135.3 million at March 31, 2026, after February 2026 repayment at maturity of the remaining $17.1 million of 2026 convertible notes, leaving $70.8 million of 2029 notes maturing in June 2029. The company completed a nonhuman primate study of OncotoX-AML in February 2026, presented T-CAT data at the European Society of Clinical Microbiology and Infectious Diseases congress with a manuscript accepted by Science Translational Medicine, and is working with FDA toward initiating an in-patient OMS527 trial by year-end 2026. Second quarter 2026 financial results were scheduled for release on August 12, 2026.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Omeros is a publicly traded, commercial-stage biopharmaceutical company with a market capitalization of approximately $1.3 billion and about 175 employees. Comparable listed U.S. specialty and rare-disease pharmaceutical companies cited alongside it include BioCryst Pharmaceuticals, Supernus Pharmaceuticals, Catalyst Pharmaceuticals and Harrow.
Omeros states it targets previously untapped receptors and enzymes rather than developing follow-on products, positioning YARTEMLEA as the first and only approved treatment for TA-TMA. Its complement franchise is built on distinct nodes of the pathway — MASP-2 for the lectin pathway and, historically, MASP-3 for the alternative pathway — while the T-CAT antibody platform is described as a new class of agents that directly kill pathogens. In preclinical work, its AML candidate showed activity independent of genetic mutation status, including TP53, NPM1, KMT2A and FLT3, which together are found in roughly 90% of AML patients.
Technology
The company's science centers on modulating the complement system: YARTEMLEA and OMS1029 inhibit MASP-2, the lectin pathway's effector enzyme, and a small-molecule MASP-2 inhibitor is in IND-enabling studies; zaltenibart inhibits MASP-3, the alternative pathway's key activator. The T-CAT (Targeted Complement Activation Therapy) platform comprises recombinant antibodies engineered to target and directly kill bacteria, fungi, viruses and parasites, with initial emphasis on multidrug-resistant organisms. Other programs include OMS527, an oral PDE7 inhibitor, and OncotoX-AML, an oncology candidate that selectively depletes myeloid progenitor cells.
Go-to-market
YARTEMLEA is sold in the U.S. through wholesalers, with the company reporting early adoption across transplant centers and expanding formulary access. Reimbursement infrastructure includes a permanent CMS HCPCS J-code effective July 1, 2026 and a recommended New Technology Add-On Payment expected to take effect October 1, 2026. Pipeline assets are advanced through partnerships and government funding arrangements.
Patients with complement-mediated and rare diseases, initially adult and pediatric patients aged two years and older with hematopoietic stem cell transplant-associated thrombotic microangiopathy, treated at transplant centers; prescribers and hospitals reached through U.S. wholesalers and payors including Medicare and Medicaid.
Geography
Headquartered in Seattle, Washington, United States, with commercial operations in the U.S. market and a regulatory filing under review in the European Union and European Economic Area via the European Medicines Agency.
History
The company was founded in 1994 and is headquartered at 201 Elliott Avenue West in Seattle, Washington. Gregory A. Demopulos, M.D. has served in an executive board role since 1994 and is President, Chairman and Chief Executive Officer. It trades on Nasdaq under the ticker OMER. In October 2024 the FDA granted rare pediatric disease designation to zaltenibart (OMS906). In December 2025 the FDA approved YARTEMLEA (narsoplimab-wuug) for TA-TMA and the company sold global rights to zaltenibart to Novo Nordisk. YARTEMLEA launched commercially in the U.S. in January 2026.
Risks & controversies
Reported earnings are materially affected by non-cash mark-to-market adjustments on embedded derivatives associated with the 2029 convertible notes, which produced a $73.1 million gain in Q1 2026 while the underlying non-GAAP result was a loss. The company carries $70.8 million of convertible debt maturing in June 2029. Key value drivers remain subject to regulatory outcomes, including the pending EMA decision on YARTEMLEA and FDA requests for additional nonclinical information that have delayed initiation of the OMS527 in-patient clinical trial. Much of the pipeline, including OncotoX-AML and the T-CAT platform, remains preclinical.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
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Timeline · 7
launches, deals, and filingsA marketing authorization application for YARTEMLEA in TA-TMA is under review by the European Medicines Agency, with a decision expected in mid-2026.
The U.S. Centers for Medicare & Medicaid Services assigned a permanent HCPCS J-code specific to YARTEMLEA effective July 1, 2026, and in its Inpatient Prospective Payment System proposed rule recommended approval of a New Technology Add-On Payment, expected effective October 1, 2026.
Omeros announced completion of an initial nonhuman primate study of OncotoX-AML, reporting selective reduction of myeloid progenitor cells by up to 99% after one treatment course with no observed safety signals.
Omeros began commercial distribution and sales of YARTEMLEA in the U.S. market in January 2026.
Omeros sold global rights to zaltenibart (formerly OMS906), a candidate for rare blood and kidney disorders, to Novo Nordisk under an asset purchase and licensing agreement covering the asset, associated intellectual property and related assets.
The U.S. FDA approved YARTEMLEA (narsoplimab-wuug) for the treatment of hematopoietic stem cell transplant-associated thrombotic microangiopathy (TA-TMA).
The U.S. FDA granted rare pediatric disease designation for zaltenibart (OMS906).
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 8
primary sources listed
- Omeros Corp.omeros.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Omeros Corp. do?
- Seattle-based Nasdaq-listed biopharmaceutical company commercializing MASP-2 inhibitor YARTEMLEA and developing complement, oncology and CNS therapeutics.
- Who are Omeros Corp.'s investors?
- Omeros Corp.'s investors include Foresite Capital, SPRINGROCK VENTURES.
- Is Omeros Corp. publicly traded?
- Yes — Omeros Corp. trades on NASDAQ under the ticker OMER.