Benzinga | Aug 10, 2020 11:41AM EDT

Omeros Rallies On COVID-19 Study Results: What You Should Know

Omeros Corporation (NASDAQ:OMER) shares were galloping higher Monday after the biopharma announced results from a compassionate use study of its lead investigational human monoclonal antibody.

What Happened: Seattle-based Omeros said its narsoplimab, when administered to six COVID-19 patients with Acute Respiratory Distress Syndrome who initially required mechanical ventilation, led to recovery, survival and discharge from the hospital.

Mannan-binding lectin-associated serine protease-2, or MASP-2, binds the nucleocapsid protein of SARS-CoV-2 -- the virus responsible for COVID-19 -- resulting in complement activation and lung injury.

Narsoplimab targets MASP-2, alleviating symptoms of COVID-19, including ARDS and thrombotic events, according to Omeros.

Narsoplimab is being evaluated as a treatment option for hematopoietic stem cell transplant-associated thrombotic microangiopathy, or HSCT-TMA.

Rolling BLA submission is underway for the indication, Omeros said.

The study of narsoplimab in COVID-19 was initiated following a request from treating physicians at the Papa Giovanni XXIII Hospital in Bergamo, Italy, the company said.

The uniformly successful outcomes of the study are impressive, Alessandro Rambaldi, head of the department of hematology and oncology at Papa Giovanni, said in a statement. Rambaldi also served as the lead investigator for the HSCT-TMA trial.

"Also of importance in this terribly sick population studied, the drug was well-tolerated, showing no adverse effects," Rambaldi said.

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What's Next: Omeros said a manuscript detailing the results of the study has been accepted for publication in the peer-reviewed journal Immunobiology.

OMER Price Action: At last check, Omeros shares were surging higher by 49.89% to $21.18.

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