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Omeros (NASDAQ: OMER) stock is falling hard again for the second time this month. A complete response letter from the FDA for narsoplimab is the culprit today. Disappointed investors have pushed the stock 23.7% lower as of 11:43 a.m. EDT on Monday.
Omeros is a commercial-stage biopharmaceutical company that markets Omidria, a pupil-dilating drug used during eye surgery. Investors had a lot of hopes pinned to narsoplimab because Omidria sales rely on a tentative pass-through payment status that isn't very reliable .