Roth Capital Affirms Omeros (OMER) at 'Buy' Following Quantified OMS721 Data; Longer-Term Needed for Soliris Comparison

Roth Capital affirms Omeros (Nasdaq: OMER) with a Buy rating and price target of $38 after OMER announced additional positive data in the company's Phase 2 clinical trial of OMS721 for the treatment of thrombotic microangiopathies (TMAs).

Analyst Elemer Piros offered the following commentary, In the two patients (mid-dose) and one patient (high-dose) suffering from plasma therapy-resistant atypical hemolytic uremic syndrome (aHUS), platelet counts became normalized (vs. "improved" in the low-dose cohort). An increase of 47% - 63% of platelet counts were observed in these patients. Haptoglobin levels were normalized in all three patients, with one mid-dose patient slipping slightly below normal at one week following the last dose. LDH levels decreased by 5% in the two mid-dose patients and by 43% in the high-dose patient - to just just slightly above normal. Creatinine levels, an indicator of kidney damage, were also reduced by 24% in the high-dose patient. The only patient with thrombocytopenic purpura, treated with the mid-dose, did not require plasma therapy while on treatment (or since treatment), but laboratory parameters did not show consistent improvement.

Piros also noted caveats behind the data, In this Phase 2 trial patients were dosed for four weeks and lab values were taken one week after the last dose. To facilitate direct comparison with Alexion's (Nasdaq: ALXN) Soliris, we would have to examine longer term (26 weeks) benefit. Having said that, the initial data appears to be robust, which might be indicative of sustainable benefit.

For an analyst ratings summary and ratings history on Omeros Corp. click here. For more ratings news on Omeros Corp. click here.

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