Omeros Announces Closing of $34.5 Million Public Offering of Common Stock

SEATTLE, July 2, 2012 /PRNewswire/ -- Omeros Corporation (NASDAQ: OMER) today announced that it has closed the underwritten public offering that was priced and allocated to investors prior to the opening of the market on June 27, 2012, relating to the sale of 3,365,854 shares of its common stock at a price of $10.25 per share for gross proceeds of approximately $34.5 million. The closing included the sale of 439,024 shares of common stock sold pursuant to the overallotment option granted by Omeros to the underwriters, which the underwriters exercised in full. After deducting underwriting discounts and other estimated offering expenses, Omeros will receive net proceeds from the transaction of approximately $32.3 million.

Omeros intends to use the net proceeds of the offering for general corporate purposes, including expenses related to the clinical development of Omeros' two ongoing Phase 3 clinical development programs – OMS302 for use during intraocular lens replacement procedures and OMS103HP for use during arthroscopic partial meniscectomy surgery. The net offering proceeds may also be used to fund research and development in Omeros' preclinical studies and clinical trials, capital expenditures, working capital and to otherwise advance Omeros' product candidates toward commercialization.

Cowen and Company, LLC and Deutsche Bank Securities Inc. acted as the joint book-running managers for the offering, Canaccord Genuity Inc. and Wedbush PacGrow Life Sciences acted as co-managers, and WBB Securities served as a financial advisor to Omeros.

A shelf registration statement (File No. 333-169856) relating to these securities was filed with the Securities and Exchange Commission on October 8, 2010 and declared effective on October 18, 2010. A final prospectus supplement related to the offering was filed with the Securities and Exchange Commission on June 28, 2012. The securities may be offered only by means of a prospectus, including the final prospectus supplement, forming a part of the effective registration statement. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from Cowen and Company, LLC (c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, Phone: 631-274-2806, Fax: 631-254-7140), or Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, NY 10005-2836 or by telephone at: (800) 503-4611, or by email at: [email protected]. An electronic copy of the prospectus supplement and accompanying prospectus relating to the offering is available on the website of the Securities and Exchange Commission at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Omeros, and shall not constitute an offer, solicitation or sale of any security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. 

About Omeros Corporation
Omeros is a clinical-stage biopharmaceutical company committed to discovering, developing and commercializing products focused on inflammation, coagulopathies and disorders of the central nervous system.

Forward-looking Statements
This press release contains forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, which are subject to the "safe harbor" created by those sections. These statements include, but are not limited to, statements regarding Omeros' expectations regarding the underwritten public offering. Forward-looking statements are based on management's beliefs and assumptions and on information available to management only as of the date of this press release. Omeros' actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including, without limitation, the risks, uncertainties and other factors described under the heading "Risk Factors" in the Company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 10, 2012. Given these risks, uncertainties and other factors, you should not place undue reliance on these forward-looking statements, and the Company assumes no obligation to update these forward-looking statements publicly, even if new information becomes available in the future.

SOURCE Omeros Corporation

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