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Omeros Corporation (OMER) Message Board

  • dooper55 dooper55 Jun 4, 2014 9:24 AM Flag

    WBB ........$60.00 price target

    WBB Securities .... OMER update report yesterday 6/3/14

    DOUBLES one-year price target to $60.00

    (Written by Stephen Brozak, a Starmine top-rated biotech analyst)
    ********************************************************
    An Eye on an Exclusive Eye Drug

    Omeros Corporation (OMER) on June 1st, 2014 announced FDA approval of Omidria, a unique
    product that meets an important need for surgeons who perform cataract and intraocular lens
    replacement (ILR) surgery. There is no other product like it on the market or allowed to be
    compounded to prevent intraoperative pupil constriction (miosis) and reduce postoperative pain,
    both of which are essential for the best surgical outcome. The market for this product is huge –
    15 million surgical procedures per year worldwide and 4 million per year in the U.S. alone. The
    European Medicines Agency (EMA) is currently reviewing the Marketing Authorization
    Application for Omidria, and when approved, it will be marketable in all European Union (EU)
    countries. At a rate similar to that of the U.S. that would yield more than nine million
    procedures per year in the U.S. and EU alone.

    OMER is in an excellent position to begin selling Omidria in late summer or early fall. A
    contract sales team, beginning with 20 full-time, dedicated salespeople, is poised to detail the
    drug at 80% of the U.S. surgical centers where the majority of ophthalmic surgery is performed.
    The company has applied for CMS pass-through payment, which would be followed by
    permanent separate billing. The product is easy to administer – just add a vial to the standard
    irrigation solution used during surgery. Patent protection extends to 2023, and with extensions,
    should last till 2033. Compounders cannot make this product or any like it because they cannot
    compete with an FDA-approved product.

    (more in reply)

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    • These guys also pumped CRDC
      Don't believe the price target
      I sold all my OMER on the news.

      Good luck!

    • Consequently, OMER is in a highly favorable position
      with a unique drug that meets a current need, has no FDA post marketing requirements and
      has excellent patent protection. We are therefore reaffirming our Strong Buy recommendation
      of OMER and doubling our 12-Month Target Price to $60.

      Valuation
      We will depart from being financially demure and assign a value to OMER based solely on the
      announcement of the only product of its kind, Omidria. With the problems it addresses, which
      include reducing the potential for infection, loss of sight, debilitating eye pain, and poor surgical
      outcomes in potentially a significant number of ophthalmology patients. Drawing on OMER’s
      press release we cite the following. “The approval and near-term market launch of Omidria
      could not come at a better time,” stated Eric B. Donnenfeld, M.D., clinical professor of
      ophthalmology at New York University and immediate-past president of the American Society of
      Cataract and Refractive Surgery. “With increasingly restrictive regulations around
      compounding, surgeons are looking for a safe and effective FDA-approved product to improve
      surgical outcomes by maintaining pupil dilation during lens replacement surgery and that
      quickly resolves postoperatively, potentially allowing faster recovery of vision. In addition, the
      anti-inflammatory ketorolac in Omidria could reduce the need for preoperative NSAIDs.” We
      find these compelling reasons for surgeons to use the product and as we have repeatedly
      proffered that, in our opinion, OMER is a greatly under-valued company at the present stock
      price. We assess our doubling valuation by using just a 3.6 Million patient pool with an initial
      market penetration of 13.66%, using a 7% growth rate and a 12% discount rate. Using a fully
      diluted share count of 35 million, we arrive at our new 12-month price target of $60.

 
OMER
21.86-0.35(-1.58%)Mar 27 4:00 PMEDT