TLDR
- Omeros Corporation signed a $2.1 billion asset purchase and license agreement with Novo Nordisk for zaltenibart, a clinical-stage MASP-3 inhibitor
- Omeros receives $340 million upfront and near-term milestone payments, plus potential payments up to $2.1 billion and tiered royalties on sales
- Novo Nordisk gains exclusive global rights to develop and commercialize zaltenibart across all indications
- The drug targets rare blood disorders like paroxysmal nocturnal hemoglobinuria and showed promise in Phase 2 trials
- Omeros stock jumped over 140% on the announcement, while Novo Nordisk shares moved slightly higher
Omeros Corporation stock experienced a massive rally on Wednesday after announcing a major licensing deal with Novo Nordisk. The agreement centers on zaltenibart, a drug candidate designed to treat rare blood and kidney disorders.
The biotech company’s shares surged over 140% following the news. This represented one of the largest single-day gains for the stock in recent memory.
Under the terms of the deal, Novo Nordisk obtains exclusive global rights to develop and commercialize zaltenibart across all indications. Omeros will receive $340 million in upfront and near-term milestone payments.
The total value of the agreement could reach $2.1 billion. This includes potential development and commercial milestone payments over time.
Omeros will also receive tiered royalties based on net sales of the drug. The transaction is expected to close in the fourth quarter of 2025.
Zaltenibart’s Mechanism and Clinical Progress
Zaltenibart works by inhibiting MASP-3, a protein that activates the complement system’s alternative pathway. The drug is an antibody that targets this specific protein.
The compound has completed Phase 2 clinical trials for paroxysmal nocturnal hemoglobinuria, a rare blood disorder. In PNH, the immune system attacks and destroys red blood cells.
Martin Holst Lange, chief scientific officer at Novo Nordisk, commented on the acquisition. He stated that zaltenibart has a novel mode of action that could offer advantages over other treatments for complement-mediated diseases.
Novo Nordisk plans to initiate a global Phase 3 program for zaltenibart in PNH after the deal closes. The company will also explore development opportunities for other rare blood and kidney disorders.
Financial Performance and Future Plans
Prior to Wednesday’s rally, Omeros shares had gained nearly 6% year-to-date. However, the stock had fallen about 1% over the trailing 12-month period.
Novo Nordisk shares rose 0.34% on the day of the announcement. The company’s stock has declined 32.58% year-to-date and 52% over the past year.
Omeros will retain certain rights to its preclinical MASP-3 programs. These include the ability to develop small-molecule MASP-3 inhibitors with limited indication restrictions.
The company stated it plans to focus on securing approval and commercialization of narsoplimab this quarter. It will also continue advancing its development pipeline.
Wall Street analysts maintain a Moderate Buy consensus rating on Omeros stock. The rating is based on two Buy recommendations and one Hold rating from the past three months.
The average price target from analysts sits at $7.64 per share. This represents a potential downside from current trading levels following Wednesday’s surge.
The deal provides Omeros with $340 million in upfront and near-term payments, with total potential payments reaching $2.1 billion including development and commercial milestones, plus tiered royalties on net sales.
