OMEROS CORP
OMER · Pharmaceutical Preparations · 72.4M shares · +15%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$7M (gross $5M, SBC $12M)
Reference price $11.61 · est. market cap ~$840M — last insider sale, 2026-05-22 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D46Commercial/clinical biotech (narsoplimab) near breakeven with cash burn and negative equity.
Strengths
- Adequate liquidity — current ratio 2.8 (39th)
Risks
- Cash burn — FCF -$116M, net income -98%
- Negative equity — D/E -0.7
- Regulatory/commercial-approval dependence — per 10-K
Notable findings
- Negative equityNegative book equity (debt/equity -0.73)
- Cash burnNegative free cash flow (-116.2M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- FDA approvalFDA approval — YARTEMLEA (2025-12-23)
- Notable holderHeld by 4 notable fund(s): STATE STREET CORP, CITADEL ADVISORS LLC, GOLDMAN SACHS GROUP INC +1 more (as of 2026-03-31)
- Insider sellingInsider selling — 3 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$837,954, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
2.8%
Return on assets
-1.0%
Debt / equity
-0.7×
Current ratio
2.8×
Free cash flow
-$116M
EBITDA
-$122M
Tangible book value
-$121M
Cash & investments
$172M
Cash runway
6q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-22 | Cable Thomas J. | Option exercise | 7.5K | $10.84 |
| 2026-05-22 | Cable Thomas J. | Sell | 7.5K | $11.61 |
| 2026-02-18 | Demopulos Gregory A MD | Option exercise | 400K | $10.27 |
| 2026-02-18 | Demopulos Gregory A MD | Tax withheld | 358K | $11.93 |
| 2026-01-13 | Borges David J. | Option exercise | 30K | $3.06 |
| 2026-01-13 | Borges David J. | Sell | 30K | $12.31 |
| 2026-01-12 | Borges David J. | Sell | 30K | $12.72 |
| 2025-10-13 | Demopulos Gregory A MD | Gift | 300K | — |
| 2025-10-13 | Demopulos Gregory A MD | Gift | 600K | — |
| 2025-10-13 | Demopulos Gregory A MD | Gift | 300K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-25 | 2026-06-18 | 0001437749-26-021617 ↗ |
| 8-K | 2026-06-18 | 2026-06-17 | 0001437749-26-021040 ↗ |
| 10-Q | 2026-05-13 | 2026-03-31 | 0001437749-26-016720 ↗ |
| 8-K | 2026-05-13 | 2026-05-13 | 0001437749-26-016718 ↗ |
| 10-K | 2026-03-31 | 2025-12-31 | 0001437749-26-010636 ↗ |
| 8-K | 2026-03-31 | 2026-03-31 | 0001437749-26-010634 ↗ |
| 8-K | 2026-01-07 | 2026-01-07 | 0001437749-26-000820 ↗ |
| 8-K | 2025-12-29 | 2025-12-24 | 0001437749-25-038758 ↗ |
| 8-K | 2025-12-01 | 2025-11-25 | 0001437749-25-036507 ↗ |
| 10-Q | 2025-11-13 | 2025-09-30 | 0001437749-25-034826 ↗ |
| 8-K | 2025-11-13 | 2025-11-13 | 0001437749-25-034824 ↗ |
| 8-K | 2025-10-15 | 2025-10-10 | 0001437749-25-030968 ↗ |