Friday, January 7, 2011

Omeros Corp. (NASDAQ:OMER) Depending on Outcome of OMS-103HP as Driver

The Phase 3 results from the lead clinical program OMS-103HP should largely determine the performance of Omeros Corp. (NASDAQ:OMER), with earlier trials having brought optimism they may have favorable outcomes.

Needham says, "We expect Omeros to announce Phase 3 results from lead clinical program OMS-103HP in ACL surgery in Feb/Mar 2011. Outcome is likely to be a key driver for the stock this year. We are favorably inclined based on encouraging results from smaller Phase 2 trials in ACL surgery and meniscectomy and reiterate our rating."

Needham & Company maintains a "Buy" on Omeros Corp., which closed Thursday at $7.81, down $0.45, or 5.45 percent. Needham has a price target of $10 on them.

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