Omeros Moves Closer To IPO, Sets Price Goal
Summary
Omeros Moves Closer To IPO, Sets Price Goal Xconomy Seattle — Omeros, the Seattle biotech company that’s attempting to pull off the first IPO from a Washington company in two years, took a step closer toward its goal today by updating its prospectus and stating it hopes to go public at a range of $10 to $12 a share.It has spent more than $108.8 million of investors’ money from inception through June 30, according to its latest prospectus.The company’s goal is to develop proprietary low-dose combinations of existing drugs, and deliver them directly to a point on the body that’s undergoing surgery, to reduce inflammation, pain, and other complications that prolong recovery time.Omeros’s lead drug candidate is in the final stage of clinical trials for patients undergoing arthroscopic knee surgery—a procedure that 2.6 million people undergo each year in the U.S., according to market research cited by Omeros.If Omeros is successful in going public, it will be the first Washington company to make that leap since Kirkland, WA-based Clearwire (NASDAQ: CLWR) did it in March 2007.