Faced with a steep drop in sales from its only approved product, the Seattle biotech Omeros hatched a plan to make up for the shortfall: secure speedy approval for its lead pipeline drug to treat a rare but often-deadly complication of bone marrow transplants.
The drug, called OMS721, had a “clear path” to approval, CEO Greg Demopulos said May 10. In the days that followed, the company’s stock price rose 50 percent. But investors who believe Omeros can succeed aren’t considering all the risks. This plan has flaws.