Why would NIH perform an investigation if there were no potential improprieties??? CFO's rarely file lawsuits against companies - especially those about to IPO - makes one wonder about what's really going on there at OMER.
OR maybe, just maybe, Omeros was right about this CFO and got rid of him despite the pending IPO. Both Deutsche Bank and Canaccord initiated coverage of Omeros today with price targets of $15 and $13, respectively. Reading their coverages they seem to have little concern about Omeros' "failure to execute". Go figure.
From the Deutsche Bank buy recommendation yesterday:
Omeros is an emerging pharmaceutical company focused on developing novel therapeutics for treating inflammation and CNS disorders. The company’s PharmacoSurgery platform is an innovative concept for either improving surgical ease or patient outcomes or both. The PharmacoSurgery product candidates that Omeros is currently developing are proprietary low-dose combinations of anti-inflammatory agents and other drugs. Local delivery of these products can potentially mitigate surgical trauma, reduce related pain and inflammation and help accelerate patient recovery. Omeros is targeting a theoretical $7 billion+ worldwide sales opportunity with its lead product candidate OMS103HP, which is currently in Phase 3 for use in arthroscopic surgery, as well as OMS302 for ophthalmic surgery and OMS201 for urologic surgeries. Management is pursuing 505b2 filings for these products—typically a faster, less onerous application process—as they are composed of already-approved active ingredients. If successfully developed and approved, we believe that surgeons will be motivated to utilize Omeros’ products as they potentially improve clinical outcomes without changing current standard surgical workflows. Overall, we currently model a $1 billion+ peak potential for Omeros’ three PharmacoSurgery product candidates, assuming they are all approved by the FDA.
Beyond the PharmacoSurgery platform, Omeros possesses a suite of preclinical programs focused on developing novel therapeutics for CNS indications such as schizophrenia, Parkinson’s disease, and substance addictions. In addition, the company has a G-protein coupled receptor (GPCR) platform technology with the capacity to characterize previously unknown GPCRs in a high-throughput manner, which could ultimately yield novel pharmaceuticals. While we have not ascribed any value to these programs in our valuation analysis (see “Valuation” section for more details), the GPCR program, as well as the company’s preclinical CNS programs could potentially be compelling for a large pharmaceutical partner and yield relatively lucrative collaboration(s) for Omeros. Hence, based on the company’s broad and diverse clinical pipeline, as well as its very attractive valuation, we rate Omeros’ shares Buy.
Both Deutsche Bank and Canaccord initiated coverage of Omeros today with price targets of $15 and $13, respectively. Reading their coverages they seem to have little concern about Omeros' "failure to execute". Go figure.
Not sure if it still works this way but isn't the lead investment bank and the top row bankers on the tombstone, lined up right up front to publish positive reports. But, oh no, not DucheBank, the lead, they wouldn't efer pull the Moody's, S&P, and Fitch would rate junk AAA for the company paying them ... How much in fees did DoucheBank pocket on this gig?