What are the investment strengths of Omeros Corp (OMER)?

800M market cap implies market pricing meaningful probability of pipeline success - R&D investment of 85M TTM could yield blockbuster if approved. Minimal capex (-91K TTM) means nearly all spend goes to drug development, not infrastructure - pure optionality play.

What are the investment risks for Omeros Corp (OMER)?

2.4M cash vs 105M annual burn = ~8 days runway. Imminent dilution or bankruptcy without near-term financing. Negative equity (-220.5M) with 192M debt means existing shareholders wiped out in any restructuring scenario.

Omeros Corp

OMER

—

Build a strategy around OMER

Omeros Corp AI Insights

Informational only. Not investment advice.

As of 2026-01-21

Snapshot

Zero revenue TTM with -129.4M operating loss and only 2.4M cash remaining - severe liquidity crisis imminent.[Cash and Equivalents]
Negative equity of -220.5M with 191.6M total debt creates -3.63 P/B ratio - technically insolvent balance sheet.[Common Stockholders Equity]
R&D spend of 85.2M TTM (66% of opex) with zero revenue suggests pre-commercial biotech burning through capital.[Research and Development]

Watch Triggers

Cash and Equivalents: Falls below 1M or new financing announced — Survival depends on imminent capital raise - watch for dilutive terms
Total Revenue: Any revenue recognition >0 — First revenue signals FDA approval and commercial launch - thesis inflection
Total Debt: Increases above 200M or covenant breach — Debt restructuring could accelerate equity wipeout

Bull Case

800M market cap implies market pricing meaningful probability of pipeline success - R&D investment of 85M TTM could yield blockbuster if approved.

Market CapResearch and Development

Minimal capex (-91K TTM) means nearly all spend goes to drug development, not infrastructure - pure optionality play.

Capital ExpenditureResearch and Development

Bear Case

2.4M cash vs 105M annual burn = ~8 days runway. Imminent dilution or bankruptcy without near-term financing.

Cash and EquivalentsFree Cash Flow

Negative equity (-220.5M) with 192M debt means existing shareholders wiped out in any restructuring scenario.

Common Stockholders EquityTotal Debt

Bull vs Bear Balance

AI-generated sentiment analysis based on fundamental metrics and market conditions.

20%

Leverage OMER's top insights and create a custom strategy based on them in seconds. Our AI editor does it all — in one click.

Take Me to The Editor

Forward Thesis

Binary outcome: FDA approval or dilutive financing required within 6 months given 2.4M cash vs 105M annual burn.

3-12mhigh

Cash runway under 2 weeks at current burn rate
29.3M equity issuance TTM signals ongoing dilution
No revenue path without regulatory catalyst

Cash 2.4M vs FCF burn -105.3M TTMNet stock issuance 29.3M TTMTotal revenue 0 TTM

Valuation Context

Caveats

Public Strategies Rankings

See how Omeros Corp ranks across different investment strategies.

Leverage OMER's top insights and create a custom strategy in seconds. Our AI editor does it all — in one click.

OMER Fundamentals

Manufacturing → Chemical Manufacturing

Metric	Value	Industry Percentile
Market Cap	$1.06B	—
Enterprise Value	$1.29B	—
P/E Ratio	0.00	—
Total Revenue - TTM	$0	—
Earnings Per Share (diluted) - TTM	$-0.05	—
Operating Margin - TTM	0%	—
Net Margin - TTM	0%	—
Free Cash Flow - TTM	$-116.16M	—
Return on Common Equity - TTM	0%	—
Beta 5Y (Monthly)	unknown	—

OMER Dividend History

No dividends

OMER Stock Splits

No stock splits

OMER SEC Filings

Filing Date	Report Date	Report Type	Filing Link
03/31/26	12/31/25	10-K	0001437749-26-010636
11/13/25	09/30/25	10-Q	0001437749-25-034826
08/14/25	06/30/25	10-Q	0001437749-25-026933
05/15/25	03/31/25	10-Q	0001437749-25-017213
03/31/25	12/31/24	Unknown	0001437749-25-010216
11/13/24	09/30/24	10-Q	0001437749-24-034903
08/07/24	06/30/24	10-Q	0001437749-24-025181
05/15/24	03/31/24	10-Q	0001437749-24-017047
04/01/24	12/31/23	10-K	0001437749-24-010416
11/09/23	09/30/23	10-Q	0001437749-23-031250
08/09/23	06/30/23	10-Q	0001558370-23-014095
05/09/23	03/31/23	10-Q	0001558370-23-008814
03/13/23	12/31/22	10-K	0001558370-23-003575
11/09/22	09/30/22	10-Q	0001558370-22-017153
08/09/22	06/30/22	10-Q	0001558370-22-012884
05/10/22	03/31/22	10-Q	0001558370-22-008120
03/01/22	12/31/21	10-K	0001558370-22-002582
11/09/21	09/30/21	10-Q	0001558370-21-015289
08/09/21	06/30/21	10-Q	0001558370-21-010974
05/10/21	03/31/21	10-Q	0001558370-21-006671
03/01/21	12/31/20	10-K	0001558370-21-002177
11/09/20	09/30/20	10-Q	0001558370-20-013359
08/10/20	06/30/20	10-Q	0001558370-20-010182
05/11/20	03/31/20	10-Q	0001558370-20-006254
03/02/20	12/31/19	10-K	0001558370-20-001891
11/12/19	09/30/19	10-Q	0001558370-19-010806
08/08/19	06/30/19	10-Q	0001558370-19-007702
05/09/19	03/31/19	10-Q	0001628280-19-006430
03/01/19	12/31/18	10-K	0001628280-19-002324
11/08/18	09/30/18	10-Q	0001285819-18-000014
08/09/18	06/30/18	10-Q	0001285819-18-000011
05/10/18	03/31/18	10-Q	0001285819-18-000006
03/01/18	12/31/17	10-K	0001285819-18-000003
11/09/17	09/30/17	10-Q	0001628280-17-011326
08/08/17	06/30/17	10-Q	0001285819-17-000011
05/10/17	03/31/17	10-Q	0001285819-17-000008
03/16/17	12/31/16	10-K	0001285819-17-000004
11/09/16	09/30/16	10-Q	0001285819-16-000024
08/09/16	06/30/16	10-Q	0001285819-16-000021
05/10/16	03/31/16	10-Q	0001285819-16-000017
03/15/16	12/31/15	10-K	0001285819-16-000014
11/09/15	09/30/15	10-Q	0001285819-15-000010
08/10/15	06/30/15	10-Q	0001285819-15-000007
05/11/15	03/31/15	10-Q	0001285819-15-000005
03/16/15	12/31/14	10-K	0001285819-15-000003
11/10/14	09/30/14	10-Q	0001285819-14-000012
08/11/14	06/30/14	10-Q	0001285819-14-000010
05/12/14	03/31/14	10-Q	0001285819-14-000007
03/13/14	12/31/13	10-K	0001285819-14-000002
11/07/13	09/30/13	10-Q	0001445305-13-002841
08/09/13	06/30/13	10-Q	0001445305-13-002092
05/09/13	03/31/13	10-Q	0001193125-13-210938
03/18/13	12/31/12	10-K	0001193125-13-112709
11/09/12	09/30/12	10-Q	0001193125-12-463691
08/07/12	06/30/12	10-Q	0001193125-12-341048
05/10/12	03/31/12	10-Q	0001193125-12-225496
03/15/12	12/31/11	10-K	0001193125-12-117593
11/08/11	09/30/11	10-Q	0001193125-11-300871
08/09/11	06/30/11	10-Q	0001193125-11-216435
05/10/11	03/31/11	10-Q	0001193125-11-134289
03/15/11	12/31/10	10-K	0001193125-11-067278
11/04/10	09/30/10	10-Q	0001193125-10-247079
08/10/10	06/30/10	10-Q	0000950123-10-075654
05/12/10	03/31/10	10-Q	0000950123-10-048460
03/31/10	12/31/09	10-K	0000950123-10-030881
11/19/09	09/30/09	10-Q	0000950123-09-064326
10/08/09	06/30/09	424B4	0000950123-09-049121
05/12/10	03/31/09	10-Q	0000950123-10-048460
06/23/09	12/31/08	10-K	0000950123-09-016265
11/19/09	09/30/08	10-Q	0000950123-09-064326