Pipeline updates are highly awaited events for investors in the pharma/biotech sector as they play an important role in deciding whether or not to invest in a particular company. These companies spend a significant amount in advancing their pipelines. One such biopharma company is Omeros Corporation (OMER) whose pipeline includes candidates like Omidria (OMS302), OMS103, OMS824 and OMS721.
Recently, Omeros announced additional positive results from its phase IIa study on OMS824, for the treatment of schizophrenic patients. The candidate is Omeros’ lead compound in its phosphodiesterase 10 (PDE10) program. These patients received OMS824 or placebo for a period of two weeks.
Patients with schizophrenia were given a higher dose than in any prior OMS824 study. This caused 50% more plasma concentrations than the earlier reported highest dose. However, OMS824 was tolerated with mild or moderate adverse events that were consistent with those seen in previous cohorts. The adverse events were self-limited and did not result in any discontinuation of the candidate.
The positive phase II results demonstrate that OMS824 can be administered in combination with standard antipsychotic medications. A fast-track application is under review in the U.S. for OMS824 for the treatment of schizophrenia. Omeros is also evaluating OMS824 for the treatment of patients with symptomatic Huntington's disease (HD). The candidate enjoys orphan drug and fast-track designation in the U.S. for HD.
We are encouraged by the pipeline progress at Omeros. Omeros’ most advanced and proprietary pharmacosurgery candidate is Omidria. The company is looking to get Omidria approved in the U.S. and EU for the treatment of patients undergoing intraocular lens replacement surgery. Omeros expects to market Omidria in the second half of 2014 on approval.
Omeros carries a Zacks Rank #3 (Hold). Investors looking for better-ranked stocks in the biopharma sector may consider companies like Gilead Sciences Inc. (GILD), Shire (SHPG) and Alkermes (ALKS). Gilead Sciences carries a Zacks Rank #2 (Buy) while Shire and Alkermes carry a Zacks Rank #1 (Strong Buy).
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