Omeros' (NASDAQ:OMER) OMS103HP Could Expand Uses if Phase 3 PharmacoSurgery Data Positive

Talking to an expert in the field, Canaccord said if Omeros' (NASDAQ:OMER) Phase 3 PharmacoSurgery program is positive, OMS103HP could have expanded uses.

Canaccord says, "We recently hosted a call with a Dr. William Garrett, a leading orthopaedic surgeon, for an in-depth discussion of Omeros’s Phase 3 PharmacoSurgery program, with a focus on OMS103HP; we expect Phase 3 data in Q1/11. While the initial indication is arthroscopic anterior cruciate ligament (ACL) and meniscectomy, our expert believes that if positive, OMS103HP could enjoy use in other arthroscopic and other surgeries where pain and inflammation are issues."

Canaccord Genuity maintains a "Buy" rating on Omeros Corp. (OMER), which closed at $7.02, down $0.01, or 0.14 percent. Canaccord has a price target of $13 on Omeros.