Omeros Corporation (OMER) announced that the first patient has been dosed in a second phase II study on candidate, OMS824.
Omeros is evaluating OMS824 for the treatment of patients with symptomatic Huntington's disease (HD). OMS824 is Omeros’ lead candidate in its phosphodiesterase 10 (PDE10) program.
This phase II study will randomize patients to receive placebo or one of three doses of OMS824. The study will evaluate the tolerability, safety, pharmacokinetics of OMS824. The efficacy of OMS824 will be assessed across three functional domains: motor, cognitive and behavior. Omeros expects interim results in the second half of 2014 and final results in 2015. We note that the candidate enjoys Orphan Drug and Fast Track designation in the U.S. for HD.
Last month, Omeros provided positive results from a phase IIa study on OMS824, which is being evaluated for the treatment of schizophrenia. The study demonstrated that OMS824 showed systemic pharmacokinetics when administered alone and concurrently with approved antipsychotic agents in schizophrenic patients. A Fast Track application is also under review in the U.S. for OMS824 for the treatment of schizophrenia.
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 currently carries a Zacks Rank #3 (Hold). Investors looking for better-ranked stocks in the biopharma sector may consider companies like Endocyte Inc. (ECYT), Actelion Ltd. (ALIOF) and Biogen Idec Inc. (BIIB). Endocyte and Biogen carry a Zacks Rank #1 (Strong Buy) while Actelion carries a Zacks Rank #2 (Buy).
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