Omeros Corporation reported a net loss of $33.5 million, or $0.58 per share, for the first quarter ended March 31, 2025. This is an improvement compared to a net loss of $37.2 million, or $0.63 per share, for the first quarter of 2024.
As of March 31, 2025, the company held $52.4 million in cash and short-term investments, a decrease of $37.7 million from December 31, 2024. OMIDRIA royalties earned were $6.7 million on Rayner’s U.S. net sales of $22.3 million, down from $9.4 million on $31.2 million in Q1 2024.
Total operating expenses for Q1 2025 decreased to $35.0 million from $39.0 million in Q1 2024, primarily due to the wind down of the IgA nephropathy program. The company also highlighted the FDA's acceptance of the narsoplimab BLA with a PDUFA date in late September 2025, and the recently completed debt restructuring that reduced near-term debt maturities by over $100 million.
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