Omeros Corporation
OMERHealthcare|Biotechnology|US
$16.92
-0.15 (-0.88%)
Cash / Share
$1.83
Financials
Financial Snapshot
Market Cap
$1.22B
Enterprise Value
$1.31B
Revenue (TTM)
$38.4M
Net Income (TTM)
$124.8M
Cash & Investments
$132.0M
Net Cash
$48.2M
Free Cash Flow (TTM)
-$68.7M
Operating CF (TTM)
-$68.7M
Debt/Equity
-1.63
Cash Runway & Burn Rate
Cash on Hand
$132.0M
Quarterly Burn
$17.2M
Monthly Burn
$5.7M
Est. Runway
~7.7 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $45.3M | $83.7M | $60.5M | $60.8M | $135.0M | $157.3M | $194.9M | $171.8M | $90.1M | $171.8M | $132.0M | |
| Operating Cash Flow | -$51.5M | -$36.2M | -$103.7M | -$60.1M | -$100.1M | -$109.7M | -$86.5M | $74.7M | -$148.8M | -$116.1M | -$68.7M | |
| Free Cash Flow | -$51.6M | -$36.6M | -$104.3M | -$60.4M | -$100.4M | -$110.0M | -$86.6M | $74.3M | -$149.0M | -$116.2M | -$68.7M | |
| Capital Expenditure | -$126.0K | -$350.0K | -$567.0K | -$334.0K | -$283.0K | -$277.0K | -$113.0K | -$426.0K | -$165.0K | -$65.0K | -$56.0K | |
| Financing Cash Flow | $68.7M | $75.0M | $81.1M | $60.7M | $174.5M | $6.3M | $124.2M | -$106.1M | $62.9M | -$42.2M | -$68.1M |
R&D Spending
R&D (TTM)
$62.4M
R&D Intensity
162.3%
R&D Growth vs Prior
-23.3%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $41.6M | $64.8M | $29.9M | $111.8M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $38.4M | |
| R&D Expense | $50.7M | $55.6M | $89.9M | $109.7M | $107.6M | $118.8M | $112.7M | $114.9M | $119.5M | $81.3M | $62.4M | |
| R&D % of Revenue | 121.8% | 85.8% | 300.9% | 98.1% | — | — | — | — | — | — | 162.3% | |
| SG&A | $43.8M | $52.0M | $51.7M | $62.8M | $47.7M | $53.5M | $50.7M | $49.7M | $49.7M | $41.5M | $47.3M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $41.6M | $64.8M | $29.9M | $111.8M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $38.4M | |
| Cost of Revenue | $1.4M | $1.1M | $512.0K | $2.7M | $1.6M | $1.4M | $0.00 | $0.00 | $0.00 | $0.00 | $1.6M | |
| Gross Profit | $40.2M | $63.7M | $29.4M | $109.2M | -$1.6M | -$1.4M | $0.00 | $0.00 | $0.00 | $0.00 | $36.8M | |
| R&D | $50.7M | $55.6M | $89.9M | $109.7M | $107.6M | $118.8M | $112.7M | $114.9M | $119.5M | $81.3M | $62.4M | |
| SG&A | $43.8M | $52.0M | $51.7M | $62.8M | $47.7M | $53.5M | $50.7M | $49.7M | $49.7M | $41.5M | $47.3M | |
| Operating Income | -$54.3M | -$43.9M | -$112.2M | -$63.4M | -$156.9M | -$173.6M | -$163.4M | -$164.5M | -$169.3M | -$122.8M | -$72.8M | |
| Interest Expense | $7.8M | $11.0M | $16.3M | $22.7M | $26.8M | $19.7M | $22.7M | $30.8M | $24.7M | $0.00 | $22.2M | |
| Pretax Income | -$66.7M | -$53.5M | -$139.7M | -$84.5M | -$196.4M | -$191.5M | -$182.0M | -$174.9M | -$182.6M | -$2.8M | $118.6M | |
| Net Income | -$66.7M | -$53.5M | -$126.8M | -$84.5M | -$138.1M | -$111.4M | $47.4M | -$117.8M | -$156.8M | -$3.4M | $124.8M | |
| EPS (Diluted) | -1.65 | -1.17 | -2.61 | -2.16 | -2.41 | -1.79 | 0.46 | -1.88 | -2.70 | -0.05 | 1.72 | |
| EBITDA | -$58.6M | -$41.9M | -$122.5M | -$60.0M | -$168.0M | -$170.5M | -$158.4M | -$143.2M | -$157.0M | -$1.8M | $133.0M | |
| Shares Out. (M) | 40.45 | 45.54 | 48.58 | 49.52 | 57.18 | 62.34 | 62.74 | 62.74 | 58.17 | 63.51 | 89.63 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.2M | $3.4M | $5.9M | $3.1M | $10.5M | $100.8M | $11.0M | $7.1M | $3.4M | $9.7M | $2.0M | |
| Short-Term Investments | $43.1M | $80.4M | $54.6M | $57.7M | $124.5M | $56.5M | $183.9M | $164.7M | $86.7M | $162.1M | $130.0M | |
| Total Current Assets | $60.3M | $108.4M | $89.9M | $103.7M | $151.3M | $248.0M | $443.2M | $217.9M | $134.1M | $215.7M | $185.2M | |
| Total Assets | $67.3M | $116.3M | $95.9M | $137.0M | $181.0M | $419.3M | $591.0M | $378.3M | $277.1M | $325.6M | $286.8M | |
| Total Current Liabilities | $16.1M | $26.3M | $37.4M | $55.5M | $36.7M | $51.8M | $136.4M | $53.3M | $79.5M | $78.1M | $95.0M | |
| Long-Term Debt | $79.5M | $83.3M | $149.0M | $158.2M | $236.3M | $313.5M | $220.9M | $329.7M | $166.6M | $208.5M | $42.0M | |
| Total Liabilities | $104.7M | $119.1M | -$4.2M | $246.0M | $301.8M | $395.5M | $505.3M | $403.3M | $459.7M | $446.9M | $338.2M | |
| Stockholders' Equity | -$37.4M | -$2.8M | $650.1M | -$109.0M | -$120.8M | $23.8M | $85.7M | -$25.0M | -$182.6M | -$121.2M | -$51.3M | |
| Retained Earnings | -$469.9M | -$523.4M | $650.1M | -$734.6M | -$872.7M | -$683.1M | -$635.7M | -$753.5M | -$910.3M | -$913.7M | -$844.4M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$51.5M | -$36.2M | -$103.7M | -$60.1M | -$100.1M | -$109.7M | -$86.5M | $74.7M | -$148.8M | -$116.1M | -$68.7M | |
| Capital Expenditure | -$126.0K | -$350.0K | -$567.0K | -$334.0K | -$283.0K | -$277.0K | -$113.0K | -$426.0K | -$165.0K | -$65.0K | -$56.0K | |
| Free Cash Flow | -$51.6M | -$36.6M | -$104.3M | -$60.4M | -$100.4M | -$110.0M | -$86.6M | $74.3M | -$149.0M | -$116.2M | -$68.7M | |
| Investing Cash Flow | -$16.3M | -$37.6M | $25.2M | -$3.4M | -$67.0M | $193.7M | -$127.6M | $27.5M | $82.2M | $164.5M | $136.8M | |
| Financing Cash Flow | $68.7M | $75.0M | $81.1M | $60.7M | $174.5M | $6.3M | $124.2M | -$106.1M | $62.9M | -$42.2M | -$68.1M | |
| Issuance of Stock | $38.0M | $63.7M | $6.7M | $54.2M | $93.7M | $8.4M | $415.0K | $0.00 | $0.00 | $47.0M | $51.5M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$4.7M | -$11.9M | $0.00 | -$5.8M | |
| Net Debt Issuance | $24.2M | -$431.0K | $109.6M | -$1.1M | $98.2M | -$1.8M | $123.8M | -$101.6M | -$41.3M | -$89.2M | -$99.1M | |
| Stock Based Comp. | $13.6M | $12.7M | $11.7M | $13.8M | $14.9M | $0.00 | $0.00 | $11.7M | $10.5M | $8.2M | $5.3M | |
| Net Change in Cash | $859.0K | $1.2M | $2.5M | -$2.8M | $7.4M | $90.3M | -$89.8M | -$3.9M | -$3.7M | $6.3M | $84.0K |
Dilution Tracker
Shares Outstanding
72M
5-Year Share Growth
+11.1%
Stock Issuance (TTM)
$51.5M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 40.45 | 45.54 | 48.58 | 49.52 | 57.18 | 62.34 | 62.74 | 62.74 | 58.17 | 63.51 | 89.63 | |
| Change vs Prior % | — | 12.6% | 6.7% | 1.9% | 15.5% | 9.0% | 0.6% | 0.0% | -7.3% | 9.2% | 41.1% | |
| Stock Issuance | $38.0M | $63.7M | $6.7M | $54.2M | $93.7M | $8.4M | $415.0K | $0.00 | $0.00 | $47.0M | $51.5M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$4.7M | -$11.9M | $0.00 | -$5.8M | |
| Stock Based Comp. | $13.6M | $12.7M | $11.7M | $13.8M | $14.9M | $0.00 | $0.00 | $11.7M | $10.5M | $8.2M | $5.3M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 96.6% | 98.3% | 98.3% | 97.6% | — | — | — | — | — | — | 95.8% | |
| Operating Margin % | -130.4% | -67.7% | -375.7% | -56.7% | — | — | — | — | — | — | -189.5% | |
| Net Margin % | -160.4% | -82.5% | -424.4% | -75.6% | — | — | — | — | — | — | 324.9% | |
| EBITDA Margin % | -140.9% | -64.6% | -410.0% | -53.7% | — | — | — | — | — | — | 346.2% | |
| FCF Margin % | -124.1% | -56.4% | -349.2% | -54.0% | — | — | — | — | — | — | -178.9% | |
| ROE % | 178.2% | 1900.5% | -19.5% | 77.5% | 114.3% | -468.5% | 55.3% | 471.6% | 85.9% | 2.8% | -109.4% | |
| ROA % | -99.2% | -46.0% | -132.1% | -61.7% | -76.3% | -26.6% | 8.0% | -31.1% | -56.6% | -1.0% | 43.5% | |
| ROIC % | -105.6% | -48.5% | -171.2% | -74.6% | -93.4% | -46.6% | -29.5% | -48.6% | -75.4% | -45.3% | -31.1% | |
| R&D / Revenue % | 121.8% | 85.8% | 300.9% | 98.1% | — | — | — | — | — | — | 162.3% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 208.1% | 55.8% | -53.9% | 274.3% | -100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 222.5% | 58.6% | -53.9% | 271.8% | -101.5% | 14.2% | 100.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | 23.8% | 19.1% | -155.7% | 43.5% | -147.6% | -10.6% | 5.9% | -0.7% | -2.9% | 27.5% | |
| Net Income | 11.1% | 19.9% | -137.0% | 33.3% | -63.4% | 19.3% | 142.6% | -348.5% | -33.1% | 97.9% | |
| EPS (Diluted) | 17.5% | 29.1% | -123.1% | 17.2% | -11.6% | 25.7% | 125.7% | -508.7% | -43.6% | 98.0% | |
| Operating Cash Flow | 21.0% | 29.7% | -186.4% | 42.1% | -66.6% | -9.6% | 21.2% | 186.4% | -299.1% | 22.0% | |
| Free Cash Flow | 21.1% | 29.2% | -185.2% | 42.1% | -66.2% | -9.6% | 21.3% | 185.8% | -300.5% | 22.0% | |
| R&D Expense | 4.8% | 9.7% | 61.6% | 22.1% | -1.9% | 10.4% | -5.1% | 1.9% | 4.1% | -32.0% | |
| SG&A Expense | 23.9% | 18.9% | -0.6% | 21.5% | -24.1% | 12.1% | -5.2% | -2.0% | 0.2% | -16.6% | |
| Total Assets | 37.3% | 72.9% | -17.5% | 42.8% | 32.2% | 131.6% | 41.0% | -36.0% | -26.8% | 17.5% | |
| Book Value / Share | -32.6% | 93.3% | 3436.3% | -206.8% | 4.1% | 118.1% | 258.1% | -129.2% | -688.3% | 39.2% | |
| Debt | 59.9% | 5.7% | 79.0% | 28.1% | 38.6% | 29.4% | -1.7% | 5.7% | -42.7% | 15.5% | |
| Diluted Shares | 7.7% | 12.6% | 6.7% | 1.9% | 15.5% | 9.0% | 0.6% | 0.0% | -7.3% | 9.2% |
Valuation
P/E (TTM)8.86
P/S31.88
10Y Low / Med / High6.24 / 13.65 / 18.12
P/B-23.77
10Y Low / Med / High0.83 / 1.65 / 16.86
EV/EBITDA9.82
EV/Revenue34.01
10Y Low / Med / High7.95 / 14.90 / 22.99
P/FCFAt Loss
Intrinsic Value Models (per share)
Cash / Share
$1.83
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -6.01 | -16.61 | -4.27 | -6.52 | -5.93 | -3.59 | 4.91 | -1.74 | -3.66 | -326.00 | 8.86 | |
| P/S Ratio | 9.64 | 13.65 | 18.12 | 6.24 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 31.88 | |
| P/B Ratio | -10.71 | -314.44 | 0.83 | -6.40 | -6.77 | 16.86 | 1.65 | -8.21 | -3.15 | -9.00 | -23.77 | |
| EV/EBITDA | -8.17 | -23.06 | -5.61 | -14.80 | -6.40 | -3.80 | -2.99 | -3.91 | -4.96 | -720.85 | 9.82 | |
| EV/Revenue | 11.51 | 14.90 | 22.99 | 7.95 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 34.01 |
Analyst Estimates & Quality
Altman Z-Score
0.08
Distress
Piotroski F-Score
6
Moderate
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $127.5M | $221.3M | $318.0M |
| Net Income | $52.9M | $67.1M | $93.1M |
| EPS | $0.82 | $1.06 | $1.61 |
| # Analysts (EPS) | 2 | 2 | 3 |