Omeros (OMER) closes a new credit facility with Oxford Finance and MidCap Financial for $32M. The company will pay interest only through March 2015. Thereafter, principal and interest will due through the March 2018 maturity date.
$19.4M of the loan will pay off Omeros' current debt with Oxford.
The remaining $12.6M will be used for general corporate purposes.
Consensus revenue target for this year is $1.6M, but ramps up to $29M in 2015.
103 mutual funds hold positions, up from 93 a year ago.