Omeros soars on Wedbush OMS302 call

|About: Omeros Corporation (OMER)|By:, SA News Editor

Shares of Omeros (OMER +53.2%) skyrocket as Wedbush raises its price target to $28 from $18.

Back in August, Liana Moussatos put the odds of the FDA accepting the company's OMS302 NDA for review at 90% (that expectation is reiterated today).

After speaking to a "high-volume cataract surgeon," Moussatos has apparently decided to double U.S. penetration estimates for the phenylephrine/ ketorolac combo, developed for the maintenance of pupil dilation, prevention of pupil constriction, and reduction of postoperative ocular pain.

The rationale: FDA scrutiny of sterility issues in topical solutions used during intraocular lens replacement surgery should drive up prices on topical NSAIDs and mydriatic agents, making OMS302 price competitive.