OMEROS CORP
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
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FY2024 · Filed Mar 31, 2025
OMER$17.30-1.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating activities: | |||
| Net income (loss) | $(156,815) | $(117,813) | $47,417 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Stock-based compensation expense | 10,493 | 11,650 | 14,072 |
| Depreciation and amortization | 950 | 920 | 952 |
| Amortization of discount and issuance costs on convertible notes | 859 | 1,853 | 1,830 |
| Amortization of non-cash interest and issuance costs on term debt | 844 | — | — |
| Non-cash interest on OMIDRIA contract royalty asset | (16,922) | (15,315) | (18,634) |
| Remeasurement on OMIDRIA contract royalty asset | (7,969) | (41,167) | (14,457) |
| Non-cash interest remeasurement on the OMIDRIA royalty obligation | (5,614) | — | 1,695 |
| Accretion on U.S. government treasury bills, net | (4,371) | (8,714) | — |
| Gain on early extinguishment of convertible senior notes | — | (4,112) | — |
| Changes in operating assets and liabilities: | |||
| OMIDRIA contract royalty asset | 39,651 | 40,595 | 65,439 |
| Prepaid expenses and other | 517 | (2,978) | 934 |
| Receivables | 357 | 205,125 | (175,066) |
| Accounts payable and accrued expense | (10,783) | 4,682 | (10,665) |
| Net cash provided by (used in) operating activities | (148,803) | 74,726 | (86,483) |
| Investing activities: | |||
| Proceeds from the sale and maturities of investments | 1,069,767 | 1,046,482 | 301,594 |
| Purchases of investments | (987,385) | (1,018,602) | (429,045) |
| Purchases of property and equipment | (165) | (426) | (113) |
| Net cash provided by (used in) investing activities | 82,217 | 27,454 | (127,564) |
| Financing activities: | |||
| Proceeds from sale of future royalties | 115,525 | — | 125,000 |
| Proceeds upon exercise of stock options | 547 | 150 | 415 |
| Payment on maturity of 2023 convertible senior notes | — | (95,000) | — |
| Repurchase of 2026 convertible senior notes | (21,731) | (4,873) | — |
| Principal payments on OMIDRIA royalty obligation | (18,780) | (1,152) | (417) |
| Repurchases of common stock | (11,851) | (4,654) | — |
| Payments on finance lease obligations | (829) | (555) | (750) |
| Net cash provided by (used in) financing activities | 62,881 | (106,084) | 124,248 |
| Net decrease in cash and cash equivalents | (3,705) | (3,904) | (89,799) |
| Cash and cash equivalents at beginning of period | 7,105 | 11,009 | 100,808 |
| Cash and cash equivalents at end of period | $3,400 | $7,105 | $11,009 |
| Supplemental cash flow information | |||
| Cash paid for interest | $35,686 | $29,923 | $19,178 |
| Equipment acquired under finance lease | $1,523 | $952 | $40 |
| Cash paid for income taxes, net | $165 | $3,292 | $80 |
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