OMER - Omeros falls 11% after reporting clinical data for COVID-19 therapy
- The shares of commercial-stage biopharma, Omeros Corporation ( NASDAQ: OMER ) fell ~11% in the morning hours Thursday after the company reported data from a clinical trial involving critically ill COVID-19 patients who received its experimental therapy narsoplimab in addition to standard of care.
- The I-SPY COVID Trial, sponsored by Quantum Leap Healthcare Collaborative was designed to measure the time to recovery the risk of mortality in critically ill COVID patients as primary endpoints.
- The investigators of I-SPY randomized 91 to the narsoplimab arm and 116 to the control arm. All patients had received standard of care including dexamethasone and remdesivir.
- The addition of narsoplimab cut the mortality risk (hazard ratio [HR]=0.81, with probability [HR <1] equal to 0.77) and its experimental therapy was linked to the biggest drop in mortality risk among all drugs tested in the trial so far, OMER said.
- However, the trial did not indicate that narsoplimab dropped the time to recovery.
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Omeros falls 11% after reporting clinical data for COVID-19 therapy