Omeros beats as YARTEMLEA launch drives EPS $0.15, revenue $28.5M, turns profit, cash flow positive

 

Omeros beats Q2 2026 estimates as YARTEMLEA launch drives EPS $0.15, revenue $28.5M and turns profit, cash flow positive

• YARTEMLEA net sales $28.5 million, +188% QoQ in first full commercial quarter.
• Company generated $1.8 million non-GAAP profit and $4.1 million positive operating cash flow.
• Non-GAAP EPS $0.15, +135% YoY, on Q2 2026 revenue of $28.5M.
• Adult patients now ~75% of sales, nearing transplant mix, signaling broadening beyond pediatrics.
• Seventy‑three U.S. transplant centers ordered; 55–60% key centers have P&T approval.
• CMS granted NTAP up to $287k per inpatient course plus permanent J-code effective July.
• Capital structure de-risked via $30.5 million 2029 convertible note repurchase (43% outstanding) and 843k shares retired.
• Gross-to-net 11.5% remains stable; operating expenses expected to rise modestly with launch and R&D.
• Management reiterated goal to be company-wide cash-flow positive by mid-2027; no revenue guidance given.
• EMA issued negative opinion on YARTEMLEA; re-examination underway, leaving European approval uncertain.
• Q&A centered on C5 competitor use, channel stocking, reimbursement, diagnosis rates, and market size.
• Main concern: Uncertain European approval and still-limited visibility into the ultimate TA-TMA market size.
• Strong quarter, driven by rapid YARTEMLEA uptake, early profitability, and balance-sheet de-risking.

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