Why Omeros Stock Is Freefalling Today
After skyrocketing by above 68.7% on Friday with no clear catalyst to speak of, Omeros (NASDAQ: OMER) stock came crashing down to earth, losing more than 33% of its value as of 3:44 p.m. on Tuesday. Stock prices are important for biotech companies that don't yet have products approved for sale, as management can opt to issue new shares when prices are high to raise money for when it's needed later. On that note, Omeros has a pair of programs in phase 3 clinical trials investigating its antibody narsoplimab for a few different complement-system-mediated diseases, like immunoglobulin A nephropathy and atypical hemolytic uremic syndrome.
