Omeros uses $99.9 million to repay 2023 convertibles, buy some 2026 notes

By Devika Patel

Knoxville, Tenn., April 2 – Omeros Corp. used about $100 million of cash to pay off and repurchase convertible notes in the last quarter.

“First, $95 million [was] used to pay off our outstanding 2023 convertible notes at maturity,” chairman and chief executive officer Dr. Gregory A. Demopulos said on the company’s fourth quarter and fiscal year ended Dec. 31, 2023 earnings conference call on Monday.

“Second, $4.9 million [was] used to repurchase $9.1 million principal amount of our 2026 convertible notes at 54% of par value,” he said.

The company repurchased the notes in December 2023, according to the company’s most recent 10-K filing with the Securities and Exchange Commission.

Omeros is a Seattle-based commercial-stage biopharmaceutical company.

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