2014 Q2 Form 10-Q Financial Statement
#000128581914000007 Filed on May 12, 2014
Income Statement
| Concept | 2014 Q2 | 2014 Q1 | 2013 Q1 |
|---|---|---|---|
| Revenue | $45.00K | $100.0K | $1.095M |
| YoY Change | -67.86% | -90.87% | -26.8% |
| Cost Of Revenue | $0.00 | $0.00 | |
| YoY Change | |||
| Gross Profit | $45.00K | $100.0K | |
| YoY Change | |||
| Gross Profit Margin | 100.0% | 100.0% | |
| Selling, General & Admin | $4.860M | $3.770M | $3.990M |
| YoY Change | 29.95% | -5.51% | 71.98% |
| % of Gross Profit | 10800.0% | 3770.0% | |
| Research & Development | $12.41M | $12.02M | $7.127M |
| YoY Change | 29.73% | 68.61% | -1.64% |
| % of Gross Profit | 27571.11% | 12017.0% | |
| Depreciation & Amortization | $80.00K | $80.00K | $70.00K |
| YoY Change | 0.0% | 14.29% | -22.22% |
| % of Gross Profit | 177.78% | 80.0% | |
| Operating Expenses | $17.26M | $15.78M | $11.12M |
| YoY Change | 29.79% | 42.01% | 16.17% |
| Operating Profit | -$17.22M | -$15.68M | -$10.02M |
| YoY Change | 30.83% | 56.53% | 24.13% |
| Interest Expense | $939.0K | $672.0K | $587.0K |
| YoY Change | 59.42% | 14.48% | 18.83% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $165.0K | -$286.0K | $112.0K |
| YoY Change | 6.45% | -355.36% | -132.84% |
| Pretax Income | -$17.99M | -$16.64M | -$10.49M |
| YoY Change | 32.38% | 58.63% | 17.87% |
| Income Tax | $0.00 | $0.00 | $0.00 |
| % Of Pretax Income | |||
| Net Earnings | -$17.99M | -$16.64M | -$10.49M |
| YoY Change | 32.36% | 58.66% | 17.92% |
| Net Earnings / Revenue | -39980.0% | -16642.0% | -957.9% |
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$530.2K | -$538.5K | -$404.9K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 33.91M shares | 30.40M shares | 25.91M shares |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2014 Q2 | 2014 Q1 | 2013 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $37.50M | $52.20M | $13.30M |
| YoY Change | 86.57% | 292.48% | -24.43% |
| Cash & Equivalents | $1.533M | $567.0K | $1.716M |
| Short-Term Investments | $35.90M | $51.60M | $12.00M |
| Other Short-Term Assets | $146.0K | $143.0K | $500.0K |
| YoY Change | -70.8% | -71.4% | 25.0% |
| Inventory | |||
| Prepaid Expenses | $1.110M | $1.312M | |
| Receivables | $300.0K | $500.0K | $2.000M |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $38.97M | $54.13M | $15.81M |
| YoY Change | 83.2% | 242.33% | -19.72% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $907.0K | $989.0K | $1.058M |
| YoY Change | -7.54% | -6.52% | 45.73% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $439.0K | $267.0K | $143.0K |
| YoY Change | 245.67% | 86.71% | 40.2% |
| Total Long-Term Assets | $2.025M | $1.935M | $1.880M |
| YoY Change | 13.32% | 2.93% | 35.15% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $38.97M | $54.13M | $15.81M |
| Total Long-Term Assets | $2.025M | $1.935M | $1.880M |
| Total Assets | $40.99M | $56.07M | $17.69M |
| YoY Change | 77.78% | 216.89% | -16.1% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $5.085M | $4.926M | $2.609M |
| YoY Change | 19.56% | 88.81% | 8.98% |
| Accrued Expenses | $5.476M | $5.306M | $6.979M |
| YoY Change | 31.57% | -23.97% | 31.6% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $1.609M | $0.00 | $997.0K |
| YoY Change | -35.25% | -100.0% | -83.66% |
| Total Short-Term Liabilities | $12.17M | $10.23M | $10.59M |
| YoY Change | 11.65% | -3.33% | -43.52% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $30.76M | $32.21M | $19.20M |
| YoY Change | 72.73% | 67.77% | 60.0% |
| Other Long-Term Liabilities | $8.700M | $8.400M | $3.800M |
| YoY Change | 31.82% | 121.05% | 22.58% |
| Total Long-Term Liabilities | $30.76M | $32.21M | $19.20M |
| YoY Change | 72.73% | 67.77% | 27.15% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $12.17M | $10.23M | $10.59M |
| Total Long-Term Liabilities | $30.76M | $32.21M | $19.20M |
| Total Liabilities | $42.93M | $42.44M | $29.79M |
| YoY Change | 49.54% | 42.5% | -11.88% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$289.0M | -$271.0M | -$225.1M |
| YoY Change | 21.1% | 20.42% | 21.64% |
| Common Stock | $340.0K | $339.0K | $259.0K |
| YoY Change | 14.09% | 30.89% | 15.11% |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | -$10.61M | $5.212M | -$15.86M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $40.99M | $56.07M | $17.69M |
| YoY Change | 77.78% | 216.89% | -16.1% |
Cashflow Statement
| Concept | 2014 Q2 | 2014 Q1 | 2013 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$17.99M | -$16.64M | -$10.49M |
| YoY Change | 32.36% | 58.66% | 17.92% |
| Depreciation, Depletion And Amortization | $80.00K | $80.00K | $70.00K |
| YoY Change | 0.0% | 14.29% | -22.22% |
| Cash From Operating Activities | -$15.27M | -$11.14M | -$8.968M |
| YoY Change | 62.62% | 24.21% | 62.91% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $10.00K | $6.000K | $88.00K |
| YoY Change | -93.18% | 22.22% | |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $15.70M | -$38.91M | $8.800M |
| YoY Change | -348.42% | -542.16% | -55.44% |
| Cash From Investing Activities | $15.70M | -$38.91M | $8.707M |
| YoY Change | -348.81% | -546.89% | -55.75% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $37.80M | $0.00 | |
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 540.0K | $49.23M | $22.00K |
| YoY Change | -96.65% | 223686.36% | -101.6% |
| NET CHANGE | |||
| Cash From Operating Activities | -15.27M | -$11.14M | -$8.968M |
| Cash From Investing Activities | 15.70M | -$38.91M | $8.707M |
| Cash From Financing Activities | 540.0K | $49.23M | $22.00K |
| Net Change In Cash | 970.0K | -$817.0K | -$239.0K |
| YoY Change | 120.45% | 241.84% | -101.87% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$15.27M | -$11.14M | -$8.968M |
| Capital Expenditures | $10.00K | $6.000K | $88.00K |
| Free Cash Flow | -$15.28M | -$11.15M | -$9.056M |
| YoY Change | 62.73% | 23.07% | 62.38% |
Facts In Submission
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|---|---|---|---|---|
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Cash
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Cash
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Cash And Cash Equivalents At Carrying Value
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Cash Cash Equivalents And Short Term Investments
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Class Of Warrant Or Right Exercise Price Of Warrants Or Rights
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12.25 | |
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Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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Commitments And Contingencies
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Common Stock Par Or Stated Value Per Share
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Common Stock Shares Issued
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Common Stock Value
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Comprehensive Income Net Of Tax
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Depreciation And Amortization
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Depreciation And Amortization
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Earnings Per Share Basic And Diluted
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|
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Earnings Per Share Basic And Diluted
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|
-0.40 | |
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Employee Related Liabilities Current
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Increase Decrease In Accounts Payable And Accrued Liabilities
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|
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Increase Decrease In Accounts Payable And Accrued Liabilities
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|
3960000 | USD |
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Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-970000 | USD |
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Increase Decrease In Deferred Revenue
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|
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Increase Decrease In Other Noncurrent Liabilities
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Increase Decrease In Other Noncurrent Liabilities
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Increase Decrease In Prepaid Deferred Expense And Other Assets
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Increase Decrease In Receivables
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Increase Decrease In Receivables
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Interest Expense
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Interest Paid
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|
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Interest Paid
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|
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Investment Income Net
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|
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Investment Income Net
InvestmentIncomeNet
|
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Liabilities And Stockholders Equity
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|
16535000 | USD |
| CY2014Q1 | us-gaap |
Liabilities And Stockholders Equity
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|
56067000 | USD |
| CY2014Q1 | us-gaap |
Liabilities Current
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Liabilities Current
LiabilitiesCurrent
|
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| CY2014Q1 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
0 | USD |
| CY2013Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
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5600000 | USD |
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Long Term Debt Noncurrent
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| CY2014Q1 | us-gaap |
Long Term Debt Noncurrent
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Nature Of Operations
NatureOfOperations
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:6px;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Organization</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products targeting inflammation, coagulopathies and disorders of the central nervous system. Our most clinically advanced potential product, OMS302 or Omidria</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">™</sup></font><font style="font-family:inherit;font-size:10pt;"> for lens replacement surgery, is derived from our proprietary PharmacoSurgery</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">®</sup></font><font style="font-family:inherit;font-size:10pt;"> platform designed to improve clinical outcomes of patients undergoing ophthalmological, arthroscopic, urological and other surgical procedures. Our PharmacoSurgery platform is based on low-dose combinations of therapeutic agents delivered directly to the surgical site throughout the duration of the procedure to inhibit preemptively inflammation and other problems caused by surgical trauma and to provide clinical benefits both during and after surgery. In addition to Omidria, we have six other clinical-stage development programs in our pipeline, which also includes a diverse group of preclinical programs as well as two additional platforms: one capable of unlocking new G protein-coupled receptor (GPCR) drug targets and the other used to generate antibodies. For each of our programs and potential products, which we refer to herein as products, we have retained all manufacturing, marketing and distribution rights.</font></div><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Omidria is being developed for use in patients undergoing intraocular lens replacement surgery. In July 2013, we submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) and in September 2013, we submitted a Marketing Authorisation Application (MAA) to the European Medicines Agency (EMA) for Omidria. We expect the FDA to approve our NDA for Omidria in the second quarter of 2014. Assuming approval, we expect to begin marketing Omidria in the U.S. in the second half of 2014. In the European Union (EU) and other international territories, we plan to enter into one or more partnerships for the marketing and distribution of Omidria.</font></div></div> | |
| CY2013Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
22000 | USD |
| CY2014Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
49233000 | USD |
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Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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8707000 | USD |
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Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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Net Cash Provided By Used In Operating Activities
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|
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| CY2013Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-8968000 | USD |
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Net Income Loss
NetIncomeLoss
|
-16642000 | USD |
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Net Income Loss
NetIncomeLoss
|
-10489000 | USD |
| CY2014Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment |
| CY2014Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
15784000 | USD |
| CY2013Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
11115000 | USD |
| CY2013Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
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| CY2014Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
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| CY2014Q1 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
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| CY2013Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
495000 | USD |
| CY2014Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
364000 | USD |
| CY2014Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
143000 | USD |
| CY2013Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
86000 | USD |
| CY2013Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
100000 | USD |
| CY2014Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
267000 | USD |
| CY2014Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-288000 | USD |
| CY2013Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
112000 | USD |
| CY2013Q1 | us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
0 | USD |
| CY2014Q1 | us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
12699000 | USD |
| CY2014Q1 | us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
136000 | USD |
| CY2013Q1 | us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
120000 | USD |
| CY2014Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
2500000 | USD |
| CY2014Q1 | us-gaap |
Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
|
58839000 | USD |
| CY2013Q1 | us-gaap |
Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
|
3455000 | USD |
| CY2014Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
6000 | USD |
| CY2013Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
88000 | USD |
| CY2013Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2014Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2014Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
20000000 | shares |
| CY2013Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
20000000 | shares |
| CY2013Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2014Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2014Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2013Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2013Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
USD | |
| CY2014Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
USD | |
| CY2013Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
251000 | USD |
| CY2014Q1 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
1312000 | USD |
| CY2014Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
37749000 | USD |
| CY2013Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | USD |
| CY2014Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P5Y7M17D | |
| CY2014Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P6Y9M29D | |
| CY2014Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P6Y9M | |
| CY2014Q1 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
3500000 | shares |
| CY2014Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
42083 | shares |
| CY2013Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-18384000 | USD |
| CY2013Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
22000 | USD |
| CY2014Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
249000 | USD |
| CY2013Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
939000 | USD |
| CY2014Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
989000 | USD |
| CY2014Q1 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
488000 | USD |
| CY2014Q1 | us-gaap |
Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
|
19934000 | USD |
| CY2013Q1 | us-gaap |
Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
|
12250000 | USD |
| CY2013Q4 | us-gaap |
Receivables Net Current
ReceivablesNetCurrent
|
379000 | USD |
| CY2014Q1 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
1464000 | USD |
| CY2013Q1 | us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
0 | USD |
| CY2013Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
7127000 | USD |
| CY2014Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
12017000 | USD |
| CY2014Q1 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
679000 | USD |
| CY2013Q4 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
679000 | USD |
| CY2013Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-254373000 | USD |
| CY2014Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-271015000 | USD |
| CY2014Q1 | us-gaap |
Revenue Recognition Multiple Element Arrangements
RevenueRecognitionMultipleElementArrangements
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:6px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenue recognized from grants and other sources is as follows:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td width="74%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="10%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="2%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td><td width="10%" rowspan="1" colspan="1"></td><td width="1%" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended </font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2014</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2013</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:4pt;"><font style="font-family:inherit;font-size:4pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(In thousands)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Small Business Innovative Research Grants</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">100</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">125</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Vulcan Inc.</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">970</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total revenue</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">100</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,095</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> | |
| CY2014Q1 | us-gaap |
Revenues
Revenues
|
100000 | USD |
| CY2013Q1 | us-gaap |
Revenues
Revenues
|
1095000 | USD |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.00 | |
| CY2014Q1 | us-gaap |
Share Price
SharePrice
|
11.50 | |
| CY2014Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
31509000 | USD |
| CY2014Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
5212000 | USD |
| CY2013Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1093000 | USD |
| CY2014Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1788000 | USD |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
4322288 | shares |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
4.78 | |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
164272 | shares |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
9.80 | |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
0 | shares |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
39056000 | USD |
| CY2013Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
6969303 | shares |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
6762948 | shares |
| CY2013Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
6.38 | |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
6.30 | |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
38315000 | USD |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
6526397 | shares |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
6.20 | |
| CY2014Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
5.93 | |
| CY2014Q1 | us-gaap |
Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
|
0 | USD |
| CY2013 | us-gaap |
Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
|
0 | USD |
| CY2014Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant items subject to such estimates include revenue recognition, fair market value of investments, stock-based compensation expense and accruals for clinical trials and contingencies. We base our estimates on historical experience and on various other factors that we believe are reasonable under the circumstances; however, actual results could differ from these estimates.</font></div></div> | |
| CY2014Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
30897039 | shares |
| CY2013Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
25908153 | shares |
| CY2013Q4 | omer |
Accrued Clinical Trial Costs
AccruedClinicalTrialCosts
|
596000 | USD |
| CY2014Q1 | omer |
Accrued Clinical Trial Costs
AccruedClinicalTrialCosts
|
768000 | USD |
| CY2014Q1 | omer |
Accrued Contract Research Costs
AccruedContractResearchCosts
|
1727000 | USD |
| CY2013Q4 | omer |
Accrued Contract Research Costs
AccruedContractResearchCosts
|
858000 | USD |
| CY2014Q1 | omer |
Change In Fair Value Of Warrant Liabilities
ChangeInFairValueOfWarrantLiabilities
|
-452000 | USD |
| CY2013Q1 | omer |
Change In Fair Value Of Warrant Liabilities
ChangeInFairValueOfWarrantLiabilities
|
-41000 | USD |
| CY2014Q1 | omer |
Classof Warrantor Right Exercise Priceof Warrantsor Rights Weighted Average Price
ClassofWarrantorRightExercisePriceofWarrantsorRightsWeightedAveragePrice
|
23.85 | |
| CY2010Q4 | omer |
Classof Warrantor Right Numberof Warrants Issued
ClassofWarrantorRightNumberofWarrantsIssued
|
3 | warrant |
| CY2014Q1 | omer |
Lease Extension Period
LeaseExtensionPeriod
|
P5Y | |
| CY2014Q1 | omer |
Operating Lease Number Of Additional Renewal Option
OperatingLeaseNumberOfAdditionalRenewalOption
|
2 | Leases |
| CY2014Q1 | omer |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumber
|
2440660 | shares |
| CY2014Q1 | omer |
Warrant Expiration Date
WarrantExpirationDate
|
2014-09-29 | |
| CY2014Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
| CY2014Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
| CY2014Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
| CY2014Q1 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2014 | |
| CY2014Q1 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2014-03-31 | |
| CY2014Q1 | dei |
Document Type
DocumentType
|
10-Q | |
| CY2014Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001285819 | |
| CY2014Q2 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
33912447 | shares |
| CY2014Q1 | dei |
Entity Filer Category
EntityFilerCategory
|
Accelerated Filer | |
| CY2014Q1 | dei |
Entity Registrant Name
EntityRegistrantName
|
OMEROS CORP | |
| CY2014Q1 | dei |
Trading Symbol
TradingSymbol
|
OMER |
