Omeros' Ophthalmology Product OMS302 Successful in Second Phase 3 Clinical Trial
-- Submission of New Drug Application Planned for First Half of 2013--
-- Company to Host Conference Call Today at 9:00 a.m. EST--
SEATTLE, Nov. 5, 2012 /PRNewswire/ -- Omeros Corporation (NASDAQ: OMER) today reported positive data from the second of its two pivotal Phase 3 clinical trials evaluating OMS302 in patients undergoing intraocular lens replacement surgery. In this second Phase 3 clinical trial comparing OMS302 to placebo, OMS302 met its co-primary endpoints by demonstrating statistically significant (p
doop - I have never seen a Phase III announcement ignored like this before. No doubt, there was not much drama involved - based on the first Phase III it was pretty clear the results would be positive, but absolutely no market reaction is a little scary? The conference call was well-attended by the analysts, who I assume will follow-up with some upgrades and/or price target adjustments, but this company is just not on any biotech investors/traders radar. One thing that I noticed on the call that could mute the analyst response is the company is still wishy-washy on whether they will partner the drug, at all. My sense is that if the OMS103HP results are solid, they will try to partner that and use the up-front money from that partnership to fund the building of a marketing platform for OMS302 - the eye surgeon market has to be easier to target/market to than the orthopedic surgeons? Oh well, I guess we'll have to wait on this one - the value is definitely there, but the market may not notice until a firm marketing plan is in place?