Omeros Corporation today announced the pricing of its initial public offering of 6.82 million shares of its common stock at a price of $10.00 per share. The underwriters have the option to purchase up to an additional 1.02 million shares to cover over-allotments, if any. All of the shares of common stock are being offered by Omeros. The common stock is expected to begin trading on The NASDAQ Global Market on October 8, 2009 under the ticker symbol "OMER."
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Omeros intends to use the net proceeds of the offering to fund the completion of its Phase 3 clinical trials of OMS103HP, its lead product candidate being evaluated for use during arthroscopic surgery to improve postoperative joint function and reduce postoperative pain, as well as the potential launch and commercialization of OMS103HP. The Company also intends to use the net proceeds to fund, among other things, the development of its other product candidates in the clinic, OMS302 for ophthalmology and OMS201 for urology, and the development of its pipeline of preclinical programs. Deutsche Bank Securities Inc. is acting as the sole book-running manager. Wedbush PacGrow Life Sciences is acting as the co-lead manager, Canaccord Adams and Needham & Company, LLC are acting as co-managers, and Chicago Investment Group, LLC and National Securities Corporation are acting as junior co-managers. Omeros Corporation is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products focused on inflammation and disorders of the central nervous system. Omeros' most clinically advanced product candidates are derived from its proprietary PharmacoSurgery(TM) platform designed to improve clinical outcomes of patients undergoing arthroscopic, ophthalmological, urological and other surgical and medical procedures. Omeros has four ongoing PharmacoSurgery(TM) clinical development programs, and its lead product candidate, OMS103HP, is being evaluated in Phase 3 clinical trials for use during arthroscopic surgery to improve postoperative joint function and reduce postoperative pain. Omeros is also building a diverse pipeline of preclinical programs targeting inflammation and central nervous system disorders.
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