Omeros has defended the data supporting its mooted rival to Soliris after STAT sought answers to questions raised by a short seller. The Seattle-based biotech used the statement to sketch out its case for OMS721 while reiterating its commitment to unmask the author of a short report.
The genesis of the spat dates back to June, when a short seller research group operating under the name “Art Doyle” took a swipe at Omeros. The report, which was written by people trying to profit from a drop in Omeros’ stock, questioned whether the biotech has data to back up its positioning of OMS721 as a more convenient, subcutaneous alternative to Alexion’s blockbuster Soliris.
Omeros responded to the report by asking a judge to have it removed from the internet. The judge complied with the request, but Art Doyle has kept up the pressure on Omeros with Twitter posts detailing perceived chicanery by the company.
The dispute escalated this week when STAT’s Adam Feuerstein, having failed to get Omeros to answer—or even respond to—questions raised by the Doyle report, wrote up his take on the data and the points the biotech needs to clarify. Omeros’ silence and the perceived gaps in its data led Feuerstein to question whether OMS721 is a viable competitor to Soliris and Alexion’s follow-up program ALXN1210.
Omeros, breaking its silence, fired back with a statement purporting to “correct some of the inaccuracies” in the STAT article. The statement fell short of the expectations of Feuerstein, who continued the pingpong by stating that, while Omeros says it has repeatedly dosed several cohorts of patients with a subcutaneous formulation, it is yet to share the data publicly.
Given Omeros could put the matter to bed by sharing what it states are “comprehensive” pharmacokinetic/pharmacodynamic data, it is unclear why it hasn't shared information on this central pillar to the value of its program.
With Omeros yet to share PK/PD data and stating it “continues to pursue legal action to hold responsible those behind a series of defamatory reports about the company posted online under the pseudonym ‘Art Doyle,’” there is scope for the spat to run and run.
Omeros cited the ongoing legal action to explain why it ignored Feuerstein’s questions.