$OMER
OMEROS CORP

2021 Q4 Form 10-Q Financial Statement

#000155837021015289 Filed on November 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021 Q2
Revenue $0.00 $30.00M $28.82M
YoY Change -100.0% 14.9% 113.03%
Cost Of Revenue $0.00 $333.0K $342.0K
YoY Change -100.0% -16.96% 132.65%
Gross Profit $0.00 $29.67M $28.48M
YoY Change -100.0% 15.39% 112.81%
Gross Profit Margin 98.89% 98.81%
Selling, General & Admin $54.84M $20.86M $15.48M
YoY Change 206.38% 5.2% -8.54%
% of Gross Profit 70.31% 54.37%
Research & Development $118.8M $27.06M $30.94M
YoY Change 348.89% -13.58% 28.2%
% of Gross Profit 91.21% 108.62%
Depreciation & Amortization $324.0K $317.0K $355.0K
YoY Change -19.0% -22.68% -13.41%
% of Gross Profit 1.07% 1.25%
Operating Expenses $173.6M $27.06M $30.94M
YoY Change 291.38% -13.58% 28.2%
Operating Profit -$173.6M -$18.30M -$24.02M
YoY Change 413.42% -28.03% -13.24%
Interest Expense -$19.67M $4.911M $4.910M
YoY Change 146.17% -28.64% -17.87%
% of Operating Profit
Other Income/Expense, Net $1.740M $461.0K $333.0K
YoY Change 370.27% -172.83% -8.52%
Pretax Income -$191.5M -$22.70M -$50.19M
YoY Change 362.34% -50.98% 50.76%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings $194.2M -$22.70M -$28.59M
YoY Change -621.11% -40.97% -14.12%
Net Earnings / Revenue -75.67% -99.2%
Basic Earnings Per Share -$0.36 -$0.46
Diluted Earnings Per Share $3.116M -$0.36 -$0.46
COMMON SHARES
Basic Shares Outstanding 62.54M 62.51M 62.37M
Diluted Shares Outstanding 62.51M 62.37M

Balance Sheet

Concept 2021 Q4 2021 Q3 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $157.3M $50.37M $73.66M
YoY Change 16.49% -67.18% 357.5%
Cash & Equivalents $100.8M $7.400M $12.70M
Short-Term Investments $56.46M $42.96M $60.96M
Other Short-Term Assets $8.216M $6.367M $5.927M
YoY Change -25.98% 81.91% 13.98%
Inventory $712.0K $978.0K
Prepaid Expenses
Receivables $80.82M $33.62M $31.42M
Other Receivables $1.650M $274.0K $420.0K
Total Short-Term Assets $248.0M $91.35M $112.4M
YoY Change 63.9% -53.39% 188.75%
LONG-TERM ASSETS
Property, Plant & Equipment $30.01M $30.87M $31.73M
YoY Change 6.79% 946.44% 920.62%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.054M $1.211M $1.259M
YoY Change -38.0% -39.45% -40.05%
Total Long-Term Assets $171.3M $32.08M $32.99M
YoY Change 475.7% 3.19% 3.87%
TOTAL ASSETS
Total Short-Term Assets $248.0M $91.35M $112.4M
Total Long-Term Assets $171.3M $32.08M $32.99M
Total Assets $419.3M $123.4M $145.4M
YoY Change 131.59% -45.64% 105.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.40M $10.03M $9.502M
YoY Change 219.12% 42.88% 11.7%
Accrued Expenses $33.13M $27.70M $33.32M
YoY Change 15.23% -25.03% 28.96%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $51.79M $42.82M $47.70M
YoY Change 40.98% -10.27% 25.36%
LONG-TERM LIABILITIES
Long-Term Debt $313.5M $313.0M $312.6M
YoY Change 32.26% 33.88% 90.02%
Other Long-Term Liabilities $30.24M $30.29M $31.41M
YoY Change 8.0% 5.18% 6.46%
Total Long-Term Liabilities $343.7M $343.3M $344.0M
YoY Change 29.7% 30.73% 77.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $51.79M $42.82M $47.70M
Total Long-Term Liabilities $343.7M $343.3M $344.0M
Total Liabilities $395.5M $386.1M $391.7M
YoY Change 31.04% 22.81% 68.83%
SHAREHOLDERS EQUITY
Retained Earnings -$683.1M -$963.8M -$941.1M
YoY Change -21.72% 15.36% 18.08%
Common Stock $706.9M $701.1M $694.8M
YoY Change -5.99% -6.28% 9.3%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $23.78M -$262.7M -$246.3M
YoY Change
Total Liabilities & Shareholders Equity $419.3M $123.4M $145.4M
YoY Change 131.59% -45.64% 105.68%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021 Q2
OPERATING ACTIVITIES
Net Income $194.2M -$22.70M -$28.59M
YoY Change -621.11% -40.97% -14.12%
Depreciation, Depletion And Amortization $324.0K $317.0K $355.0K
YoY Change -19.0% -22.68% -13.41%
Cash From Operating Activities -$18.21M -$23.66M -$27.60M
YoY Change -1.06% -32.28% -26.61%
INVESTING ACTIVITIES
Capital Expenditures -$74.00K -$103.0K -$90.00K
YoY Change 47.14% -35.71%
Acquisitions
YoY Change
Other Investing Activities $112.5M $18.00M $30.50M
YoY Change 1307.91% -115.21% -6.85%
Cash From Investing Activities $112.4M $17.90M $30.41M
YoY Change 1305.23% -115.11% -6.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -810.0K 478.0K 851.0K
YoY Change 376.47% -99.72% -667.33%
NET CHANGE
Cash From Operating Activities -18.21M -23.66M -27.60M
Cash From Investing Activities 112.4M 17.90M 30.41M
Cash From Financing Activities -810.0K 478.0K 851.0K
Net Change In Cash 93.39M -5.287M 3.661M
YoY Change -982.73% -127.67% -170.95%
FREE CASH FLOW
Cash From Operating Activities -$18.21M -$23.66M -$27.60M
Capital Expenditures -$74.00K -$103.0K -$90.00K
Free Cash Flow -$18.14M -$23.56M -$27.51M
YoY Change -1.46% -32.44% -26.57%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 12.25pt;">Description of Business</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:23.75pt;margin:0pt 0pt 12pt 0pt;">We are a commercial-stage biopharmaceutical company committed to discovering, developing and commercializing small-molecule and protein therapeutics for large-market as well as orphan indications targeting inflammation, complement-mediated diseases, disorders of the central nervous system, addiction and immune-related diseases, including cancers. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:23.75pt;margin:0pt 0pt 12pt 0pt;">Our first drug product, OMIDRIA<sup style="background-color:#ffffff;font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">®</sup><span style="background-color:#ffffff;"> (phenylephrine and ketorolac intraocular solution) 1%/0.3%</span>, is marketed in the United States (“U.S.”) for use during cataract surgery or intraocular lens replacement. OMIDRIA qualifies for separate payment when used on Medicare Part B patients in ambulatory surgery centers under a policy adopted by the Centers for Medicare and Medicaid Services (“CMS”) in 2019 and directed to non-opioid pain management surgical drugs. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:23.75pt;margin:0pt 0pt 12pt 0pt;"><span style="white-space:pre-wrap;">Our drug candidate narsoplimab is the subject of a biologics license application (“BLA”) pending before the U.S. Food and Drug Administration (“FDA”) for the treatment of hematopoietic stem cell transplant-associated thrombotic microangiopathy (“HSCT-TMA”). On October 18, 2021, we announced the receipt of a Complete Response Letter (“CRL”) from FDA regarding the BLA. We are completing a briefing package to accompany a request for a Type A meeting with FDA to discuss the CRL and determine the most expeditious path forward for the approval of narsoplimab in the treatment of HSCT-TMA. </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:23.75pt;margin:0pt 0pt 12pt 0pt;">We also have multiple late-stage clinical development programs in our pipeline, which are focused on: complement-mediated disorders, including immunoglobulin A (“IgA”) nephropathy, atypical hemolytic uremic syndrome (“aHUS”) and COVID-19. </p>
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