Omeros Rallies After OMS721 Presentation

Omeros Corporation OMER shares are trading higher by $1.66 (13 percent) at $14.33 in Tuesday's session. Investors are impressed with its presentation at the Annual Meeting of the European Society for Blood and Marrow Transplantation.

The presentation detailed how the response to resolution of acute kidney injury secondary to TA-TMA by the anti-MASP-2 monoclonal antibody OMS721 may have saved the patient's life.

After gaining $1.11 on Monday, rallying from $11.56 to $12.67, the stock opened slightly lower, but bottomed on its opening print of $12.51 and began to move higher. The ensuing rally took it all the way to $16.40 before profit-takers came into the issue. That high coincides with its April 2016 high of $16.38.

Since reversing course, it has retreated over $2.00 and is attempting to remain in the $14.00 handle.

At this time, the FDA has granted OMS721 both orphan drug status for the treatment of complement-mediated TMA's and fast track designation for the treatment of patients with aHUS.