Omeros shares spike on positive Phase II pain data

Shares of Omeros jumped 28 percent this morning after the developer announced that its lead experimental drug produced positive data in a Phase II study. Omeros said that patients treated with OMS103HP during arthroscopic knee meniscectomy surgery achieved statistically significant clinical benefits, reporting reduced levels of postoperative pain.

"The patient reported outcomes showed a sustained benefit through postoperative Day 90," noted Omeros in its release. "OMS103HP was well tolerated, and adverse events were more frequent in the vehicle dose group."

"These data are not only consistent with those from our earlier Phase II arthroscopic ACL trial that demonstrated functional improvement over a 30-day course of physical therapy, they showed sustained clinical benefit throughout an even longer 90-day follow-up period," said CEO Gregory A. Demopulos, M.D.

- check out Omeros' release
- here's the Reuters story