Stock Alert: Omeros Jumps To New 52-week High On Positive Narsoplimab Data

(RTTNews) - Shares of Omeros Corp. (OMER) are gaining almost 48 percent or $6.76 in Monday's morning trade at $20.89, after earlier touching a new 52-week high of $22.00 following positive data from a study evaluating Narsoplimab in the treatment of COVID-19 patients.

Monday, the Seattle, Washington-based biopharmaceutical company reported the recovery and survival of all patients in a compassionate-use study evaluating Narsoplimab for the treatment of COVID-19-associated Acute Respiratory Distress Syndrome or ARDS.

Omeros noted that all six narsoplimab-treated patients, who required mechanical ventilation prior to the treatment, recovered, survived and were discharged from the hospital. The company said it is in discussions with U.S. government agencies regarding potential funding to accelerate the large-scale manufacturing of narsoplimab for use in COVID-19 patients.

Omeron has traded in a range of $8.50 to $22.00 in the past 52 weeks.