A mere 18 months after floating on the Nasdaq stock exchange, Omeros is experiencing the full pain of a late-stage clinical set back as a public company. News that its lead product failed a phase III trial sent shares in the company plunging 40% this morning, to $4.85.
This means Omeros' value has halved since it floated at $10 per share back in October 2009. Few companies have managed to achieve a market listing in the last couple of years and even fewer have maintained their flotation price (Anthera listing confirms weak IPO market, March 5, 2010). This news – which at best means a big delay for Omeros’ lead product and probably another fundraising - will not help any other IPO hopefuls courting a still sceptical public investor base.