Omeros restructures debt and nets $12.6M in fresh capital

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.

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