Here's Why Omeros Corporation Stock Rose as Much as 46.5% Today
Shares of Omeros Corporation (NASDAQ: OMER) rose over 46% today after the company reported fourth-quarter and full-year 2019 operating results. The biopharmaceutical company reported full-year 2019 revenue of $111.8 million, including $33.4 million in the fourth quarter alone. All revenue was generated from Omidria, a solution used during certain eye surgeries, which is growing sales at a healthy rate.
Separately, Omeros Corporation announced updated results for its lead pipeline program. The company's treatment greatly exceeded the efficacy threshold agreed upon with the U.S. Food and Drug Administration (FDA), which bodes well for its eventual approval.
As of 12:52 p.m. EST, the small-cap stock had settled to a 37.1% gain.
Source Fool.com
