Omeros Closes $84 Million Public Offering of Common Stock and Pre-Funded Warrants

SEATTLE, Feb. 3, 2015 /PRNewswire/ -- Omeros Corporation (NASDAQ: OMER) today announced that it has closed the underwritten public offering that was priced and allocated to investors on January 28, 2015 relating to the sale of 3,444,831 shares of its common stock at a price of $20.03 per share and 749,250 pre-funded warrants to purchase up to an equal number of shares of its common stock at a price per warrant of $20.02, which was paid at closing. The pre-funded warrants have an exercise price of $0.01 per share and will expire on February 3, 2022. Gross proceeds from the offering were approximately $84.0 million, including approximately $15.0 million from the sale of the pre-funded warrants. The closing also included the sale of 449,325 shares of common stock sold pursuant to the option allowing the underwriters to purchase additional shares of common stock from Omeros, 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 $79.1 million.

Cowen and Company, LLC acted as the sole book-running manager for the offering.

Wedbush PacGrow Life Sciences acted as co-lead manager. Needham & Company, LLC, Maxim Group LLC, WBB Securities LLC and MLV & Co. LLC acted as co-managers.

A shelf registration statement (File No. 333-201581) relating to these securities (including the shares issuable upon the exercise of the pre-funded warrants) was filed with the Securities and Exchange Commission on January 16, 2015 and was automatically effective upon filing. A final prospectus supplement related to the offering was filed with the Securities and Exchange Commission on January 30, 2015. The securities may be offered only by means of the prospectus supplement and accompanying prospectus, which form 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). 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 biopharmaceutical company committed to discovering, developing and commercializing small-molecule and protein therapeutics for large-market as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system.

Forward-looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are subject to the "safe harbor" created by those sections for such statements. All statements other than statements of historical facts are forward-looking statements. Terms such as "anticipate," "believe," "could," "estimate," "expect," "goal," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would," and similar expressions and variations thereof are intended to identify forward-looking statements, but these terms are not the exclusive means of identifying such statements. 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, risks associated with Omeros' ability to begin U.S. commercial sales of Omidria™ (OMS302) in early 2015, Omeros' ability to obtain regulatory approval for its Marketing Authorization Application in the EU for the commercialization of Omidria, Omeros' unproven preclinical and clinical development activities, regulatory oversight, product commercialization, intellectual property claims, competitive developments, litigation, and 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 November 10, 2014. 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, even if new information becomes available in the future.

SOURCE Omeros Corporation

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