OMEROS CORP
For the period ended Dec 31, 2025. Filed Mar 31, 2026.
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FY2025 · Filed Mar 31, 2026
OMER$17.30-1.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating activities: | |||
| Net loss | $(3,350) | $(156,815) | $(117,813) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Gain on sale of zaltenibart | (237,594) | — | — |
| Remeasurement on fair value of financial instruments | 136,717 | (19) | — |
| Stock-based compensation expense | 8,192 | 10,493 | 11,650 |
| Depreciation and amortization | 964 | 950 | 920 |
| (Gain) loss on early extinguishment of 2026 Notes | 2,968 | — | (4,112) |
| Amortization of discount and issuance costs on 2026 Notes and 2029 Notes | 3,945 | 859 | 1,853 |
| Amortization of premium and issuance costs on term debt | (5,578) | (4,681) | — |
| Gain on early extinguishment on term debt, gross | (20,579) | — | — |
| Non-cash interest remeasurement on OMIDRIA royalty obligation | (33,435) | (5,614) | — |
| Non-cash interest on OMIDRIA contract royalty asset | (14,717) | (16,922) | (15,315) |
| Remeasurement on OMIDRIA contract royalty asset | 12,657 | (7,969) | (41,167) |
| Accretion on U.S. government treasury bills, net | — | (4,371) | (8,714) |
| Changes in operating assets and liabilities: | |||
| OMIDRIA contract royalty asset | 33,623 | 39,651 | 40,595 |
| Accounts payable and accrued expense | 4,582 | (5,239) | 4,682 |
| Receivables | (3,178) | 357 | 205,125 |
| Prepaid expenses and other | (1,311) | 517 | (2,978) |
| Net cash provided by (used in) operating activities | (116,094) | (148,803) | 74,726 |
| Investing activities: | |||
| Gross cash proceeds from sale of zaltenibart | 240,000 | — | — |
| Proceeds from the sale and maturities of investments | 109,900 | 1,069,767 | 1,046,482 |
| Purchases of investments | (185,312) | (987,385) | (1,018,602) |
| Purchases of property and equipment | (65) | (165) | (426) |
| Net cash provided by investing activities | 164,523 | 82,217 | 27,454 |
| Financing activities: | |||
| Proceeds from registered direct offering, net | 20,327 | — | — |
| Proceeds from issuance of common stock from the ATM facility, net | 19,016 | — | — |
| Proceeds upon exercise of stock options | 7,651 | 547 | 150 |
| Repayment of term debt principal | (67,077) | — | — |
| Principal payments on OMIDRIA royalty obligation | (14,956) | (18,780) | (1,152) |
| Prepayment premium and transaction costs on repayment of term debt | (3,544) | — | — |
| Payment of debt issuance costs related to 2029 Notes | (2,837) | — | — |
| Payments on finance lease obligations | (749) | (829) | (555) |
| Proceeds from sale of future royalties | — | 115,525 | — |
| Payment on maturity of 2023 Notes | — | — | (95,000) |
| Cash paid to repurchase 2026 Notes | — | (21,731) | (4,873) |
| Repurchases of common stock | — | (11,851) | (4,654) |
| Net cash provided by (used in) financing activities | (42,169) | 62,881 | (106,084) |
| Net increase (decrease) in cash and cash equivalents | 6,260 | (3,705) | (3,904) |
| Cash and cash equivalents at beginning of period | 3,400 | 7,105 | 11,009 |
| Cash and cash equivalents at end of period | $9,660 | $3,400 | $7,105 |
| Supplemental cash flow information | |||
| Exchange of 2026 Notes for 2029 Notes | $70,785 | $— | $— |
| Exchange of 2026 Notes for common stock | $10,000 | $— | $— |
| Cash paid for interest | $35,419 | $35,686 | $29,923 |
| Cash paid for income taxes, net | $153 | $165 | $3,292 |
| Equipment acquired under finance lease | $— | $1,523 | $952 |
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