# EDGAR Filing Document

**Accession Number:** 0001285819
**File Stem:** 0001437749-26-016718
**Filing Date:** 2026-5
**Character Count:** 24115
**Document Hash:** 9c2778f611a2c783ccf08a2c02ed3d9c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-26-016718.hdr.sgml**: 20260513

**ACCESSION NUMBER**: 0001437749-26-016718

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260513

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260513

**DATE AS OF CHANGE**: 20260513

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OMEROS CORP
- **CENTRAL INDEX KEY:** 0001285819
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 911663741
- **STATE OF INCORPORATION:** WA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34475
- **FILM NUMBER:** 26973268

**BUSINESS ADDRESS:**
- **STREET 1:** 201 ELLIOTT AVENUE WEST
- **CITY:** SEATTLE
- **STATE:** WA
- **ZIP:** 98119
- **BUSINESS PHONE:** 206-676-5000

**MAIL ADDRESS:**
- **STREET 1:** 201 ELLIOTT AVENUE WEST
- **CITY:** SEATTLE
- **STATE:** WA
- **ZIP:** 98119

?xml version='1.0' encoding='ASCII'? omer20260403_8k.htm

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

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**FORM 8-K**

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):May 13, 2026**

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## OMEROS CORPORATION
**(Exact name of Registrant as Specified in Its Charter)**

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| | | |
|:---|:---|:---|
| **Washington** | **001-34475** | **91-1663741** |
| **(State or Other Jurisdiction**<br> **of Incorporation)** | **(Commission File Number)** | **(IRS Employer**<br> **Identification No.)** |
| **201 Elliott Avenue West**<br> **Seattle,** WA |  | **98119** |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

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**Registrant's Telephone Number, Including Area Code: (206) 676-5000**

**(Former Name or Former Address, if Changed Since Last Report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered Pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common stock, $0.01 par value per share | OMER | The Nasdaq Stock Market LLC |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 2.02 Results of Operations and Financial Condition.**

On May 13, 2026, Omeros Corporation issued a press release announcing financial results for the three months ended March 31, 2026. A copy of such press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

The information in this Current Report on Form 8-K, including the exhibit hereto, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liability under that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained herein and in the accompanying exhibit, including any information contained on or accessible through any website reference in the exhibit shall not be incorporated by reference into any filing with the United States Securities and Exchange Commission made by Omeros Corporation, whether made before or after the date hereof, regardless of any general incorporation language in such filing. The inclusion of any website address in this Current Report on Form 8-K by incorporation by reference of the press release is as an inactive textual reference only.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits.

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| | |
|:---|:---|
| **Exhibit**<br> **Number** | **Description** |
| 99.1 | [Press release, dated May 13, 2026, pertaining to Omeros Corporation's financial results for the three months ended March 31, 2026](ex_941648.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **OMEROS CORPORATION** | **OMEROS CORPORATION** |
| Date: May 13, 2026 | By: | /s/ Gregory A. Demopulos |
|  |  | Gregory A. Demopulos, M.D. |
|  |  | President, Chief Executive Officer and |
|  |  | Chairman of the Board of Directors |

---

## Exhibit 99.1

**Exhibit 99.1**

![logo.jpg](logo.jpg)

**Omeros Corporation Reports First Quarter 2026 Financial Results**

**– Conference Call Today at 4:30 p.m. ET**

**SEATTLE, WA** – **May 13, 2026** – Omeros Corporation (Nasdaq: OMER) today announced recent highlights and developments as well as financial results for the first quarter ended March 31, 2026, which include:

**First Quarter and Recent Highlights**

**●** In January 2026, we launched YARTEMLEA<sup>®</sup> in the U.S. market. During the quarter, gross product sales were $11.1 million and associated net sales, after deduction of wholesaler distribution fees and chargebacks, were $9.9 million.

● Net income for the first quarter of 2026 was $56.1 million, or $0.78 per share, compared to a net loss of $33.5 million, or $0.58 per share, for the first quarter of 2025.

● First quarter results include a $73.1 million non-cash gain associated with the mark-to-market adjustment on the embedded derivatives related to our 2029 unsecured convertible notes (the "2029 Notes"). Excluding the non-cash change in our embedded derivatives, non-GAAP adjusted net loss for the three months ended March 31, 2026 was $17.1 million, or $0.24 per share.

**●** At March 31, 2026, we had $135.3 million of cash and short-term investments. This balance includes the February 2026 repayment at maturity of the remaining $17.1 million aggregate principal amount of our 2026 unsecured convertible notes (the "2026 Notes"). Following that repayment, our only remaining debt outstanding is $70.8 million aggregate principal amount of our 2029 Notes, which mature in June 2029.

**●** In April, the U.S. Centers for Medicare & Medicaid Services ("CMS") assigned a permanent Healthcare Common Procedure Coding System J-code specific for YARTEMLEA. This simplifies billing and reimbursement across payors. The J-code becomes effective on July 1, 2026. Also in April, CMS, in its Inpatient Prospective Payment System proposed rule, recommended approval of the New Technology Add-On Payment ("NTAP") for YARTEMLEA. NTAP provides additional payments to hospitals for certain high-cost, innovative technologies, helping bridge the gap until standard payment systems incorporate them. The final rule is expected in August, with NTAP expected to be effective October 1, 2026.

"The launch of YARTEMLEA has changed the trajectory of Omeros, both operationally and financially," said Gregory A. Demopulos, M.D., Omeros' Chairman and Chief Executive Officer. "We are seeing strong early adoption across transplant centers, expanding formulary access, favorable reimbursement support, and growing physician experience with the first and only approved treatment for TA-TMA. At the same time, our Novo Nordisk transaction has strengthened our balance sheet and accelerated advancement of our pipeline, including next-generation MASP-2 programs, OncotoX-AML, OMS527 for cocaine use disorder under NIDA funding, and our T-CAT platform targeting multidrug-resistant pathogens. The progress achieved this quarter further demonstrates the strength of our science and the value we are creating across Omeros."

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**Recent Developments**

● YARTEMLEA and our other MASP-2 inhibitor programs

o A marketing authorization application ("MAA") for YARTEMLEA for the treatment of TA-TMA is currently under review by the European Medicines Agency ("EMA") with a decision expected in mid-2026. If approved, the MAA authorizes the product to be marketed in all EU member states and European Economic Area countries.

o We are assessing opportunities for YARTEMLEA across indications involving lectin pathway activation, including acute respiratory distress syndrome (ARDS), sickle cell disease, acute kidney injury, solid organ transplant-related TMA, and delayed graft function.

o In parallel, we are finalizing selection of an indication for a Phase 2 clinical program for OMS1029, our long-acting antibody targeting MASP-2. In our MASP-2 small-molecule inhibitor program, we have selected a drug development candidate and are advancing to IND-enabling studies.

● OMS527 for the treatment of addiction — cocaine use disorder program funded by the National Institute on Drug Abuse ("NIDA")

o We are developing, at NIDA's request, our lead orally administered phosphodiesterase 7 ("PDE7") inhibitor for the treatment of cocaine use disorder. Preclinical studies, designed with NIDA toxicologists, were completed and showed no drug-interaction or safety issues, supporting the scheduled in-patient human study of OMS527 in cocaine users.

o Following FDA's request for additional nonclinical information and a subsequent meeting with FDA to discuss that request, we are working with FDA to streamline the path to initiate the in-patient clinical trial, targeted for initiation by year-end 2026.

● Oncology platform — OncotoX-AML

o We continue to progress preclinical studies within our novel oncology program. The lead indication for development is acute myeloid leukemia ("AML"), an aggressive and highly fatal bone marrow and blood cancer. We have completed selection of a drug development candidate in the OncotoX-AML program, and IND-enabling studies are underway.

o OncotoX-AML shows broad application across AML regardless of genetic mutation, including TP53, NPM1, KMT2A, and FLT3, collectively found in approximately 90% of AML patients. In human tumor-bearing animal and *in vitro* human AML cell-line studies, our AML therapeutic candidate has demonstrated superior efficacy to current AML standard of care treatments.

o In February 2026, we announced the successful completion of our initial study in nonhuman primates evaluating the efficacy and safety of OncotoX-AML. Administration of only one course of OncotoX-AML treatment to immunocompetent primates demonstrated the desired pharmacologic response, selectively reducing myeloid progenitor cells, which can mutate and lead to AML, by up to 99%. OncotoX-AML was well tolerated. There were no observed safety signals or meaningful changes in blood chemistry values.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Targeted Complement Activating Therapy ("T-CAT") platform

o Our T-CAT platform is a new class of recombinant antibodies designed to target and directly kill pathogens, including bacteria, fungi, viruses, and parasites. Our initial focus is on multidrug-resistant organisms ("MDROs"), one of the most critical unmet needs in medicine.

o Data from our T-CAT platform were recently featured in a podium presentation at the annual congress of the European Society of Clinical Microbiology and Infectious Diseases.

o The seminal manuscript describing our T-CAT technology was accepted for publication in *Science Translational Medicine*.

**Financial Results**

Commercial distribution and sales of YARTEMLEA commenced in January 2026. Gross product sales for the three months ended March 31, 2026 were $11.1 million, with net sales of $9.9 million. Revenue for the period reflects sales of YARTEMLEA to U.S. wholesalers.

Net income for the first quarter of 2026 was $56.1 million, or $0.78 per share, compared to a net loss of $33.5 million, or $0.58 per share for the first quarter of 2025.

The change in fair value of financial instruments as shown in our statement of operations and comprehensive income (loss) reflects marking to market the embedded derivative on our 2029 Notes under GAAP. Excluding the net gain on the change in the fair value of our financial instruments, which is non-cash, our non-GAAP adjusted net loss for the three months ended March 31, 2026 was $17.1 million, or $0.24 per share.

At March 31, 2026, we had $135.3 million of cash and short-term investments. Upon their maturity in February 2026, we repaid the remaining $17.1 million outstanding principal balance of our 2026 Notes and currently have only $70.8 million aggregate principal amount outstanding of our 2029 Notes, which mature in June 2029.

Total operating expenses for the three months ended March 31, 2026 were $27.3 million compared to $35.0 million for the three months ended March 31, 2025. The $7.7 million decrease was primarily due to reduced OMS906-related research and development work as a result of the zaltenibart asset sale and licensing agreement with Novo Nordisk in November 2025.

Interest expense increased $2.2 million for the three months ended March 31, 2026 compared to the three months ended March 31, 2025. The increase primarily relates to interest incurred on the 2029 Notes and, to a lesser extent, a non-cash remeasurement charge taken on our OMIDRIA royalty obligation in the prior year, offset by decreased interest incurred on our 2026 Notes, which were repaid in February 2026.

Interest and other income was $1.5 million for the three months ended March 31, 2026 compared to $1.1 million for the three months ended March 31, 2025 due to holding higher cash and investment balances in the current period.

Net income from discontinued operations, net of tax, was $4.8 million, or $0.07 per share, for the three months ended March 31, 2026 compared to $4.1 million, or $0.07 per share, in the prior year period.

During the three months ended March 31, 2026, we repurchased and retired approximately 0.4 million shares of common stock pursuant to our share repurchase program, at an average cost of $11.70 per share, for an aggregate purchase price of $4.2 million.

**Conference Call Details**

Omeros' management will host a conference call and webcast to discuss the financial results and to provide an update on business activities. The call will be held today at 1:30 p.m. Pacific Time; 4:30 p.m. Eastern Time.

For online access to the live webcast of the conference call, please register at the following URL <u>https://events.q4inc.com/attendee/275761840</u> or go to Omeros' website at <u>https://investor.omeros.com/upcoming-events</u>.

A replay of the call will be made accessible online for 90 days at <u>https://investor.omeros.com/archived-events</u>.

**About Omeros Corporation**

Omeros is an innovative biotechnology company that discovers and develops first-in-class protein and small-molecule therapeutics for both large-market and orphan indications, with a focus on complement-mediated diseases, cancers, and addictive or compulsive disorders. Omeros' lead complement inhibitor YARTEMLEA® (narsoplimab-wuug), which targets the lectin pathway's effector enzyme MASP-2, is FDA-approved and commercially available in the U.S. for the treatment of hematopoietic stem cell transplant-associated thrombotic microangiopathy (TA-TMA) in adult and pediatric patients aged two years and older. A marketing authorization application seeking approval of YARTEMLEA for TA-TMA is currently under review at the European Medicines Agency. OMS1029, Omeros' long-acting MASP-2 inhibitor, has successfully completed Phase 1 clinical trials.

Under a recently announced asset purchase and licensing agreement, Novo Nordisk acquired global rights to zaltenibart (formerly OMS906), an inhibitor of MASP-3, the alternative pathway's key activator, which is in clinical development for PNH and other alternative pathway indications, along with associated intellectual property and related assets. Omeros' pipeline also includes OMS527, a phosphodiesterase 7 inhibitor in clinical development for cocaine use disorder, which is fully funded by the National Institute on Drug Abuse, and a growing portfolio of novel recombinant antibodies targeting multidrug-resistant organisms and novel molecular and cellular therapeutic programs for oncology. For more information about Omeros and its programs, visit www.omeros.com.

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**Forward-Looking Statements**

**Non-GAAP Financial Measures**

This press release includes financial measures that are not calculated in accordance with U.S. generally accepted accounting principles (GAAP). A non-GAAP financial measure is generally defined as one that purports to measure historical or future financial position, results of operations or cash flows but excludes or includes amounts that would not be included in most GAAP measures. We define and use the non-GAAP financial measure of Adjusted Net Loss which represents net loss adjusted to remove the non-cash remeasurement on the fair value of financial instruments. We believe Adjusted Net Loss and Adjusted Net Loss from Continuing Operations to be a more accurate measure in gauging the Company's performance because it excludes the fluctuation in the fair value of Omeros' embedded derivatives. These are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read in conjunction with Omeros' financial statements prepared in accordance with GAAP. These non-GAAP measures differ from GAAP measures with the same captions, may be different from non-GAAP financial measures with the same or similar captions that are used by other companies, and do not reflect a comprehensive system of accounting.

**Contact**:

Jennifer Cook Williams

Cook Williams Communications, Inc.

Investor and Media Relations

IR@omeros.com

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**OMEROS CORPORATION**

**UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)**

**(In thousands, except share and per share data)**

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| | | |
|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |
|  | **March 31,** | **March 31,** |
|  | **2026** | **2025** |
| Product sales, net | $9893 | $— |
| Costs and expenses: |  |  |
| Cost of product sales | 587 |  |
| Research and development | 13358 | 23846 |
| Selling, general and administrative | 13369 | 11123 |
| Total costs and expenses | 27314 | 34969 |
| Loss from operations | (17421) | (34969) |
| Interest and other income | 1475 | 1123 |
| Interest expense, net of remeasurement adjustments and other | (5894) | (3654) |
| Gain (loss) on change in fair value of financial instruments, net | 73146 | (65) |
| Income (loss) from continuing operations before income tax expense | 51306 | (37565) |
| Income tax expense | (57) |  |
| Net income (loss) from continuing operations | 51249 | (37565) |
| Net income from discontinued operations, net of tax | 4811 | 4105 |
| Net income (loss) | $56060 | $(33460) |
| Basic net income (loss) per share: |  |  |
| Net income (loss) from continuing operations | $0.71 | $(0.65) |
| Net income from discontinued operations | 0.07 | 0.07 |
| Net income (loss) | $0.78 | $(0.58) |
| Diluted net income (loss) per share: |  |  |
| Net income (loss) from continuing operations | $0.57 | $(0.65) |
| Net income from discontinued operations | 0.06 | 0.07 |
| Net income (loss) | $0.62 | $(0.58) |
| Weighted-average shares used in per share computation: |  |  |
| Basic | 71917180 | 58056357 |
| Diluted | 90116352 | 58056357 |

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**OMEROS CORPORATION**

**UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS**

**(In thousands)**

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| | | |
|:---|:---|:---|
|  | **March 31,** | **December 31,** |
|  | **2026** | **2025** |
| **Assets** |  |  |
| Current assets: |  |  |
| Cash and cash equivalents | $1906 | $9660 |
| Short-term investments | 133410 | 162144 |
| OMIDRIA contract royalty asset, short-term | 25477 | 25351 |
| Receivables | 12032 | 10917 |
| &nbsp;&nbsp;&nbsp; Inventory | 183 |  |
| Prepaid expense and other assets | 7347 | 7595 |
| Total current assets | 180355 | 215667 |
| OMIDRIA contract royalty asset | 93717 | 96435 |
| Right of use assets | 9518 | 10708 |
| Property and equipment, net | 1529 | 1768 |
| Restricted investments | 1054 | 1054 |
| **Total assets** | $286173 | $325632 |
| **Liabilities and shareholders' deficit** |  |  |
| Current liabilities: |  |  |
| Accounts payable | $5367 | $4764 |
| Accrued expenses | 27806 | 29388 |
| OMIDRIA royalty obligation | 19856 | 20547 |
| 2026 Notes, net |  | 17063 |
| Lease liabilities | 6414 | 6300 |
| Total current liabilities | 59443 | 78062 |
| OMIDRIA royalty obligation, non-current | 141930 | 147319 |
| 2029 Notes, non-current, net | 52810 | 51364 |
| 2029 Notes embedded derivative, non-current | 84025 | 157171 |
| Lease liabilities, non-current | 5597 | 7245 |
| Other accrued liabilities, non-current | 5702 | 5702 |
| Shareholders' equity/(deficit): |  |  |
| Common stock and additional paid-in capital | 794301 | 792464 |
| Accumulated deficit | (857635) | (913695) |
| Total shareholders' deficit | (63334) | (121231) |
| **Total liabilities and shareholders' deficit** | $286173 | $325632 |

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**OMEROS CORPORATION**

**UNAUDITED SCHEDULE OF INTEREST EXPENSE, NET OF REMEASUREMENT ADJUSTMENTS AND OTHER**

**(In thousands)**

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| | | |
|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |
|  | **March 31,** | **March 31,** |
|  | **2026** | **2025** |
|  | **(In thousands)** | **(In thousands)** |
| OMIDRIA royalty obligation |  |  |
| Pass through interest remitted to administrative agent | $4014 | $5217 |
| Non-cash remeasurement adjustment | (1410) | (3372) |
| Interest expense, net of remeasurement on OMIDRIA royalty obligation | 2604 | 1845 |
| 2029 Notes |  |  |
| Contractual interest expense | 1681 |  |
| Amortization of debt discount and issuance costs | 1445 |  |
| Interest expense on 2029 Notes | 3126 |  |
| 2026 Notes |  |  |
| Contractual interest expense | 112 | 1284 |
| Amortization of debt discount and issuance costs | 14 | 148 |
| Interest expense on 2026 Notes | 126 | 1432 |
| Term Loan |  |  |
| Contractual interest expense |  | 2233 |
| Amortization of debt premium and issuance costs |  | (1908) |
| Interest expense on Term Loan |  | 325 |
| Finance leases and other | 38 | 52 |
| Total interest expense, net of remeasurement adjustments and other | $5894 | $3654 |

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**OMEROS CORPORATION**

**UNAUDITED GAAP TO NONGAAP RECONCILIATION**

**(In thousands)**

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| | | |
|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  |
|  | **March 31,** | **March 31,** |
|  | **2026** | **2025** |
| **Reconciliation of GAAP net income (loss) to Non-GAAP adjusted net loss** |  |  |
| **Numerator (in thousands)** |  |  |
| Net income (loss) | $56060 | $(33460) |
| Less: remeasurement of fair value of financial instruments | (73146) | 65 |
| **Non-GAAP adjusted net loss** | $(17086) | $(33395) |
| **Denominator (in shares)** |  |  |
| Basic weighted average shares | 71917180 | 58056357 |
| **Net income (loss) per share basic** | $0.78 | $(0.58) |
| **Non-GAAP adjusted net loss per share basic** | $(0.24) | $(0.58) |

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