Quarterly ResultMay 13, 2026, 04:14 PM
Omeros Q1 Net Income $56.1M, EPS $0.78; YARTEMLEA Sales $9.9M
AI Summary
Omeros Corporation reported strong first-quarter 2026 financial results, achieving a net income of $56.1 million, or $0.78 per share, a significant improvement from a net loss in the prior year. This turnaround was largely influenced by a $73.1 million non-cash gain from the mark-to-market adjustment on convertible notes and the successful U.S. launch of YARTEMLEA, which generated $9.9 million in net sales. The company also highlighted positive regulatory developments for YARTEMLEA, including a permanent J-code and recommended NTAP approval, alongside progress in its pipeline programs for MASP-2 inhibitors, cocaine use disorder, oncology, and multidrug-resistant pathogens.
Key Highlights
- Q1 2026 net income was $56.1 million, or $0.78 per share, compared to a net loss of $33.5 million in Q1 2025.
- YARTEMLEA net product sales were $9.9 million in its first quarter of U.S. launch.
- Results include a $73.1 million non-cash gain from mark-to-market adjustment on 2029 convertible notes.
- Non-GAAP adjusted net loss was $17.1 million, or $0.24 per share.
- Cash and short-term investments totaled $135.3 million as of March 31, 2026.
- Repaid $17.1 million of 2026 convertible notes; remaining debt is $70.8 million of 2029 Notes.
- Total operating expenses decreased to $27.3 million from $35.0 million year-over-year.
- Repurchased 0.4 million shares for $4.2 million at an average cost of $11.70 per share.