Here's Why Omeros Corporation Is Gaining More Ground Today
Shares of Omeros Corporation (NASDAQ: OMER) rose as high as 10.8% this morning after the biotech announced a U.S. Food and Drug Administration approval that expands its commercial-stage drug to the pediatric population, extending its period of market exclusivity in the process. The stock has since settled down to a more modest gain of 3.2% as of 11:20 a.m. EST on Tuesday.
Each year eye surgeons perform millions of cataract removal and lens replacement procedures that would probably go much more smoothly with the use of Omeros Corporation's Omidria. It's the first drug specifically approved to prevent pupils from contracting during these common procedures, and today's announcement means it's also available for U.S. pediatric patients.
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Source: Fool.com