OMER - Omeros stock rises 7% after beating Q1 earnings estimate

Omeros (NASDAQ:OMER +7.9%) stock rose after the company posted better than-expected Q1 earnings, helped by royalties from ophthalmic product Omidria. Net loss for the quarter was $33M or $0.53 per share (beats by $0.08), compared to a net loss of $35.1M, or $0.57 per share, a year earlier. During the quarter, the company earned royalties of $13.8M on sales of Omidria, based on Rayner’s net sales of $27.7 million, all of which were in the U.S. OMER receives 50% royalty for U.S. net sales of Omidria from Rayner. The company had $142.2M of cash as of March 31.

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Omeros stock rises 7% after beating Q1 earnings estimate