OMEROS CORPORATION (NASDAQ:OMER) Files An 8-K Other EventsItem 8.01 Other Events.
On March 23, 2018, President Donald J. Trump signed into law the Consolidated Appropriations Act, 2018 (the “Act”). Abipartisan-supported provision in the Act extends pass-through reimbursement status for a small number of drugs used during procedures performed on Medicare Part B fee-for-service patients for an additional two years, effective October 1, 2018 through September 30, 2020. The drugs that qualify for this extension are those for which previously existing pass-through reimbursement status expired on December 31, 2017 and which became included as part of the packaged procedural payment as of January 1, 2018. OMIDRIA® (phenylephrine and ketorolac intraocular solution) 1%/0.3%, the U.S.-marketed drug product of Omeros Corporation, is one of the drugs for which pass-through reimbursement status was extended to the Act. As a result of this extension, each of these drugs, for the two-year period beginning October 1, 2018, will receive separate payment at a rate of average sales price, or ASP, plus six percent, consistent with almost all other physician-administered drugs that come off pass-through status.
About OMEROS CORPORATION (NASDAQ:OMER)
Omeros Corporation is a biopharmaceutical company engaged in discovering, developing and commercializing small-molecule and protein therapeutics for market, as well as orphan indications targeting inflammation, coagulopathies and disorders of the central nervous system. The Company’s marketed drug product, Omidria (phenylephrine and ketorolac injection), is used during cataract surgery or intraocular lens replacement. Its clinical programs include Mannan-binding lectin-associated serine protease-2 (MASP-2) (OMS721)-Lectin Pathway Disorders; PDE10 (OMS824)-CNS Disorders; peroxisome proliferator-activated receptor gamma (PPARy) (OMS405)-Addiction, and OMS201-Urology. Its preclinical programs include phosphodiesterase 7 (PDE7) (OMS527), Plasmin (OMS616), MASP-3 (OMS906)-Alternative Pathway Disorders, GPR17-CNS Disorders, GPR101-Metabolic Disorders, GPR151-CNS Disorders, GPR161-Cancer, GPR174-Immune Disorders, GPR183-Skeletal and Infectious Diseases, GPCR Platform and Antibody Platform.
