OMER - Why Shares of Omeros Dropped on Monday
2023-06-12 14:47:56 ET
Shares of Omeros (NASDAQ: OMER) were down 12.9% early Monday afternoon after the clinical-stage biopharmaceutical company released a presentation it made regarding a therapy to treat a rare blood disease. The stock has climbed 189% so far this year.
Omeros specializes in treating immunologic disorders, including complement-mediated diseases, cancers, and addictive and compulsive disorders. On Monday, the company released a presentation it made last week at the European Hematology Association (EHA) Congress in Frankfurt, Germany. The poster was regarding OMS906, its therapy to treat paroxysmal nocturnal hemoglobinuria (PNH), a rare blood disorder.
PNH occurs when the immune system attacks and damages red blood cells and platelets. The disease is very rare, affecting 15.9 in 1 million people, according to a 2018 study. Untreated, it can cause chronic kidney disease, blood clots in blood vessels, and hemolytic anemia. While all 10 patients dosed with OMS906 showed improved hemoglobin levels, and there were few adverse events, apparently investors were unimpressed with the data.
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Why Shares of Omeros Dropped on Monday