OMEROS (OMER) Company Report

Omeros Corporation completed the asset sale and licensing transaction of its MASP-3 inhibitor, zaltenibart (OMS906), to Novo Nordisk on November 25, 2025.
The transaction included an upfront cash payment of $240.0 million to Omeros, with potential for up to $2.1 billion in total payments, including milestones and tiered royalties on net sales.
Omeros used approximately $72.6 million of the upfront payment to fully repay its senior secured term loan, terminating the credit agreement and releasing a $25.0 million minimum liquidity covenant.
The company anticipates the remaining proceeds will be sufficient to repay the $17.1 million principal balance on its 2026 Convertible Notes and fund more than 12 months of operations.
On November 29, 2025, Omeros' Board of Directors approved an indefinite term share repurchase program for up to $100.0 million of its common stock.

Dec 1, 2025, 1:30 PM

Omeros Reports Q3 2025 Financial Results and Provides Update on Novo Nordisk Deal and Yartemlya Approval

OMER

Earnings

M&A

Product Launch

Omeros reported a net loss of $30.9 million, or $0.47 per share, for Q3 2025, with an adjusted net loss of $22.1 million, or $0.34 per share, after excluding non-cash charges. As of September 30, 2025, the company held $36.1 million in cash and investments.
The company entered a definitive agreement with Novo Nordisk for its MASP-3 antibody, Zaltenibart, valued at up to $2.1 billion in upfront and milestone payments plus royalties. Upon closing, expected in Q4 2025, Omeros will receive $240 million in upfront cash and an additional $100 million in achievable near-term milestones.
Proceeds from the Novo Nordisk transaction are intended to fully repay the $67.1 million secured term loan and the remaining $17.1 million principal balance on 2026 convertible notes.
The Biologics License Application (BLA) for narsoplimab (Yartemlya) for transplant-associated thrombotic microangiopathy (TATMA) is under FDA review with a PDUFA date of December 26, 2025, and commercial launch preparations are underway.
Omeros anticipates becoming cash flow positive in 2027.

Nov 13, 2025, 9:30 PM

Omeros Corporation Reports Q3 2025 Financial Results and Announces Strategic Partnership

OMER

Earnings

M&A

New Projects/Investments

Omeros Corporation reported a net loss of $30.9 million, or $0.47 per share, and a non-GAAP adjusted net loss of $22.1 million, or $0.34 per share, for the third quarter ended September 30, 2025.
As of September 30, 2025, the company held $36.1 million in cash and short-term investments, with a cash burn of $22.0 million during Q3 2025, exclusive of financing proceeds.
Omeros entered an Asset Purchase and License Agreement with Novo Nordisk for zaltenibart (OMS906), which includes an upfront cash payment of $240 million expected upon closing in Q4 2025, and potential milestone payments up to $2.1 billion plus royalties.
This transaction is anticipated to provide sufficient capital for debt repayments and more than 12 months of post-closing operations.
The FDA's target action date (PDUFA) for the Biologics License Application (BLA) for narsoplimab in TA-TMA has been extended to December 26, 2025.

Nov 13, 2025, 9:09 PM

Novo Nordisk Acquires Omeros' Zaltenibart Drug Rights

OMER

M&A

New Projects/Investments

Novo Nordisk has entered an agreement to acquire global rights to zaltenibart from Omeros Corporation for an upfront and near-term payment of $340 million, with potential milestones and royalties that could total up to $2.1 billion.
Zaltenibart, a clinical-stage antibody for rare blood and kidney diseases including paroxysmal nocturnal hemoglobinuria (PNH), has shown promising Phase 2 trial results and is positioned as a potential standard of care.
Novo Nordisk plans to initiate a global Phase 3 program for PNH and explore additional indications, with the transaction expected to close in the fourth quarter of 2025.

Oct 15, 2025, 1:45 PM

Omeros announces asset purchase and license agreement with Novo Nordisk for zaltenibart

OMER

M&A

New Projects/Investments

Omeros Corporation has entered into an asset purchase and license agreement with Novo Nordisk for its clinical-stage MASP-3 inhibitor, zaltenibart (OMS906), which targets rare blood and kidney disorders.
Under the terms, Omeros is eligible to receive an upfront cash payment of $240.0 million and up to a total of $2.1 billion including potential development, approval, and sales-based milestones, plus tiered royalties on net sales.
Novo Nordisk gains exclusive global rights to develop and commercialize zaltenibart, while Omeros retains rights to certain preclinical MASP-3 programs.
The transaction is anticipated to close in the fourth quarter of 2025, with $67.1 million of the upfront payment allocated to repay outstanding debt.

Oct 15, 2025, 12:30 PM

ARS Pharmaceuticals Secures $250 Million Loan Facility

OMER

Debt Issuance

New Projects/Investments

ARS Pharmaceuticals, Inc. (Nasdaq: SPRY) has entered into a senior secured term loan facility of up to $250 million with affiliates of RA Capital Management and OMERS Life Sciences.
An initial $100 million has been borrowed to accelerate the commercial growth of , its needle-free epinephrine nasal spray, and support marketing and medical affairs initiatives.
The funding is intended to strengthen the company's commercial strategy, generate real-world evidence for 's effectiveness, and fund operations through expected cash-flow breakeven without shareholder dilution.
The loan features an interest rate of SOFR plus 5.5% (subject to a 3.0% SOFR floor) and interest-only payments until its maturity in September 2030.