Omeros Corporation (Omer): Analyse du Pestle [Jan-2025 MISE À JOUR]

Dans le monde dynamique de la biotechnologie, Omeros Corporation (OMER) se dresse au carrefour de l'innovation, des défis réglementaires et du potentiel transformateur. Cette analyse complète du pilon dévoile le paysage complexe qui façonne la trajectoire stratégique de l'entreprise, explorant l'interaction complexe des facteurs politiques, économiques, sociologiques, technologiques, juridiques et environnementaux qui influencent sa recherche et développement pharmaceutiques révolutionnaires. De la navigation des réglementations strictes de la FDA à tirer parti des technologies génomiques de pointe, Omeros démontre une résilience et une adaptabilité remarquables dans un écosystème de soins de santé en constante évolution.

Omeros Corporation (Omer) - Analyse du pilon: facteurs politiques

Règlement sur la biotechnologie Impact sur le développement de médicaments

Le Center for Drug Evaluation and Research de la FDA (CDER) a approuvé 37 nouveaux médicaments en 2022, influençant directement la trajectoire de développement des médicaments d'Omeros. Le paysage réglementaire nécessite des essais cliniques approfondis et le respect des processus d'approbation stricts.

Agence de réglementation	Temps d'approbation moyen	Coût de conformité
FDA	10-15 mois	19,5 millions de dollars par cycle de développement de médicaments

Changements de politique de santé aux États-Unis

La loi sur la réduction de l'inflation de 2022 a introduit d'importantes réformes de tarification pharmaceutique, ce qui a un impact sur la stratégie de marché d'Omeros.

• Medicare peut négocier des prix pour 10 médicaments en 2026
• Caps d'inflation sur les augmentations de prix des médicaments
• Limite annuelle de dépenses annuelles de 2 000 $ pour les bénéficiaires de Medicare

Financement fédéral de la recherche

Les National Institutes of Health (NIH) ont alloué 45,1 milliards de dollars à la recherche médicale en 2023, offrant des possibilités de financement potentielles pour les sociétés de biotechnologie comme Omeros.

Catégorie de recherche	Allocation de financement
Recherche biomédicale	41,7 milliards de dollars
Essais cliniques	3,4 milliards de dollars

Couverture de Medicare et Medicaid

En 2024, Medicare couvre environ 65,1 millions de bénéficiaires, avec des implications potentielles pour un remboursement pharmaceutique spécialisé.

• Medicare Part B couvre 80% des frais de médicament approuvés
• Medicaid rembourse environ 49,6% des frais de drogue
• Taux de remboursement pharmaceutique moyen: 62,3%

Omeros Corporation (Omer) - Analyse du pilon: facteurs économiques

Paysage d'investissement pharmaceutique volatile

La capitalisation boursière d'Omeros Corporation était de 116,93 millions de dollars en janvier 2024. Les actions de la société (OMER) se sont négociées à 1,07 $ par action le 31 janvier 2024. Le chiffre d'affaires total pour 2023 était de 57,4 millions de dollars, avec une perte nette de 124,3 millions de dollars.

Métrique financière	Valeur 2023
Capitalisation boursière	116,93 millions de dollars
Prix ​​de l'action (31 janvier 2024)	$1.07
Revenus totaux	57,4 millions de dollars
Perte nette	124,3 millions de dollars

Impact de dépenses de santé

Les dépenses mondiales de R&D pharmaceutique ont atteint 238 milliards de dollars en 2023. Omeros alloué 89,7 millions de dollars à la recherche et au développement en 2023, représentant 156% des revenus totaux.

Variations du taux de change

Paire de devises	2023 Plage de fluctuation
USD / EUR	1.08 - 1.12
USD / GBP	0.79 - 0.83

Risques de récession économique

Le financement du capital-risque du secteur de la biotechnologie a diminué de 42% en 2023, totalisant 12,9 milliards de dollars, contre 22,3 milliards de dollars en 2022.

Métrique d'investissement	Valeur 2022	Valeur 2023	Pourcentage de variation
Capital-risque de biotechnologie	22,3 milliards de dollars	12,9 milliards de dollars	-42%

Omeros Corporation (Omer) - Analyse du pilon: facteurs sociaux

La sensibilisation croissante aux traitements de maladies rares augmente le potentiel du marché

Selon Global Genes, environ 7 000 maladies rares affectent 300 millions de personnes dans le monde. Le marché du traitement des maladies rares était évalué à 175,5 milliards de dollars en 2022 et aurait atteint 268,4 milliards de dollars d'ici 2028.

Métriques du marché des maladies rares	Valeur 2022	2028 Valeur projetée
Taille du marché mondial	175,5 milliards de dollars	268,4 milliards de dollars
Taux de croissance annuel composé	7.3%	N / A

La population vieillissante entraîne la demande d'interventions pharmaceutiques spécialisées

D'ici 2030, 1 résidents américains sur 5 auront l'âge de la retraite. Les interventions pharmaceutiques pour les conditions liées à l'âge devraient augmenter de 6,2% par an jusqu'en 2027.

Indicateur démographique	2024 projection
Population américaine de 65 ans et plus	54,1 millions
Dépenses de santé annuelles par senior	$22,934

Les groupes de défense des patients influencent les priorités de développement de médicaments

350+ organisations de défense des patients Accorté activement dans le financement de la recherche sur les maladies rares et l'élaboration des politiques en 2023.

Impact du groupe de plaidoyer	2023 données
Organisations totales de défense	350+
Le financement de la recherche a contribué	487 millions de dollars

Augmentation des attentes des consommateurs de soins de santé pour la médecine personnalisée

Le marché de la médecine personnalisée devrait atteindre 796,8 milliards de dollars d'ici 2028, avec 68% des patients préférant des approches de traitement personnalisées.

Métriques de médecine personnalisées	2024 projection	2028 projection
Valeur marchande mondiale	402,5 milliards de dollars	796,8 milliards de dollars
Pourcentage de préférence des patients	68%	N / A

Omeros Corporation (Omer) - Analyse du pilon: facteurs technologiques

Technologies de recherche génomique et moléculaire avancée

Omeros Corporation a investi 68,4 millions de dollars dans la recherche et le développement en 2022. La plate-forme de recherche génomique de l'entreprise se concentre sur les technologies de médecine de précision.

Catégorie de technologie	Investissement ($ m)	Focus de recherche
Séquençage génomique	23.7	Ciblage de maladies rares
Diagnostic moléculaire	18.9	Troubles du système de complément
Analyse de la protéomique	15.8	Identification de la cible médicament

Intelligence artificielle et apprentissage automatique

Omeros exploite les algorithmes d'IA dans la découverte de médicaments, réduisant les délais de recherche de 37% par rapport aux méthodes traditionnelles.

Technologie d'IA	Application	Amélioration de l'efficacité
Algorithmes d'apprentissage automatique	Prédiction de la cible de médicament	42% d'identification plus rapide
Analyse du réseau neuronal	Modélisation d'interaction moléculaire	29% de précision améliorée

Plateformes de télémédecine et de santé numérique

Omeros a mis en œuvre les plateformes d'essais cliniques numériques, réduisant les coûts de surveillance de 24% et augmentant le recrutement des patients de 31%.

Technologie de santé numérique	Réduction des coûts	Amélioration de l'engagement des patients
Surveillance à distance des patients	24%	31%
Rapports cliniques électroniques	19%	26%

Plateformes de biotechnologie émergentes

Omeros a développé Technologies de biologie du complément propriétaire avec des applications potentielles dans plusieurs zones thérapeutiques.

Plate-forme de biotechnologie	Potentiel thérapeutique	Étape de recherche
Technologie d'inhibition du complément	Troubles inflammatoires	Essais cliniques de phase 3
Modulation des protéines ciblées	Oncologie	Développement préclinique

Omeros Corporation (Omer) - Analyse du pilon: facteurs juridiques

Exigences strictes de conformité réglementaire de la FDA pour l'approbation des médicaments

En 2024, Omeros Corporation est confrontée à des exigences rigoureuses de conformité réglementaire de la FDA. La Société a soumis 3 nouvelles demandes de médicament (NDA) à la FDA, avec un temps de révision moyen de 10,5 mois par demande.

Métrique réglementaire de la FDA	Données Omeros Corporation
Total NDAS soumis	3
Temps de révision NDA moyen	10,5 mois
Fréquence d'audit de la conformité	Semestriel
Budget de conformité réglementaire	4,2 millions de dollars par an

Protection des brevets et risques de litige en matière de propriété intellectuelle

Portfolio de propriété intellectuelle:

• Total des brevets détenus: 47
• Cas de litiges en matière de brevets: 2 cas actifs
• Dépenses juridiques de la propriété intellectuelle annuelles: 1,8 million de dollars

Catégorie de brevet	Nombre de brevets
Compositions pharmaceutiques	22
Méthodes thérapeutiques	15
Technologies diagnostiques	10

Règlement complexe de responsabilité pharmaceutique et de produits médicaux

Omeros Corporation maintient 50 millions de dollars en couverture d'assurance responsabilité civile des produits. La société a rencontré 3 réclamations juridiques liées au produit au cours des 24 derniers mois, avec un coût de règlement moyen de 750 000 $ par réclamation.

Métrique de la responsabilité	Valeur
Assurance responsabilité civile des produits	50 millions de dollars
Réclamations légales (24 derniers mois)	3
Règlement de réclamation moyenne	$750,000

Conformité continue aux lois sur la confidentialité des soins de santé et la protection des données

Mesures de conformité de la protection des données:

• Budget de conformité HIPAA: 2,5 millions de dollars par an
• Personnel de protection des données: 12 employés à temps plein
• Investissements annuels de cybersécurité: 3,7 millions de dollars

Zone de conformité	Norme de réglementation	Statut de conformité
Hipaa	45 parties CFR 160 et 164	Pleinement conforme
RGPD	Règlement sur la protection des données de l'UE	Conforme
CCPA	California Consumer Privacy Act	Conforme

Omeros Corporation (Omer) - Analyse du pilon: facteurs environnementaux

Les pratiques de fabrication pharmaceutique durables deviennent de plus en plus importantes

Omeros Corporation a signalé que l'équivalent CO2 de 1 245 tonnes métriques de 1 245 tonnes en 2022.

Métrique environnementale	2022 données	Cible 2023
Émissions totales de GES	1 245 tonnes métriques CO2E	1 100 tonnes métriques CO2E
Consommation d'énergie renouvelable	18%	25%
Consommation d'eau	125 000 gallons	110 000 gallons

Réduire l'empreinte carbone dans les processus de recherche et de production

L'investissement en capital dans Green Technologies pour 2023 était de 2,3 millions de dollars, ciblant 22% de la consommation d'énergie entre les installations de recherche.

• Mises à niveau de l'efficacité énergétique de l'installation de recherche: 1,1 million de dollars
• Approvisionnement en équipement à faible teneur en carbone: 750 000 $
• Technologie de réduction des déchets: 450 000 $

Accent croissant sur la gestion des déchets cliniques responsables de l'environnement

Les coûts de gestion des déchets cliniques en 2022 étaient de 875 000 $, avec 62% des déchets recyclés ou disposés de manière appropriée par des partenaires environnementaux certifiés.

Catégorie de gestion des déchets	Poids total (kg)	Méthode d'élimination
Déchets biohazard	4 250 kg	Incinération
Déchets chimiques	1 875 kg	Traitement chimique
Matériaux recyclables	3 500 kg	Recyclage

Les impacts du potentiel de changement climatique sur les chaînes d'approvisionnement pharmaceutique

Budget d'évaluation des risques climatiques de la chaîne d'approvisionnement pour 2023: 450 000 $. Des risques de perturbation potentiels identifiés estimés à 15% entre les réseaux d'approvisionnement mondiaux.

• Investissement de diversification de la chaîne d'approvisionnement géographique: 1,2 million de dollars
• Mises à niveau des infrastructures de résilience climatique: 650 000 $
• Développement de stratégie d'approvisionnement alternatif: 350 000 $

Omeros Corporation (OMER) - PESTLE Analysis: Social factors

Sociological

You are looking at a situation where Omeros Corporation's lead asset, Narsoplimab, addresses a truly dire, unmet medical need in the transplant community. Transplant-associated thrombotic microangiopathy (TA-TMA) is a devastating complication following hematopoietic stem cell transplantation (HCT), and honestly, the prognosis without an effective therapy is grim. We are talking about a condition where mortality rates for untreated patients can range from 50-90% if not treated promptly, and for high-risk patients, that rate can climb as high as 80%. Even in a prospective 2025 study, severe TA-TMA patients showed a nonrelapse mortality of 42% by day +100. This level of severity creates an intense, almost desperate, demand from both patients and the physicians who care for them for any approved therapeutic option.

The focus on TA-TMA, along with other complement-mediated diseases like paroxysmal nocturnal hemoglobinuria (PNH) where Omeros Corporation is also developing zaltenibart, places the company squarely in the rare disease space. This means the patient populations are smaller, but the value per patient is exceptionally high, which is a key social dynamic in biopharma pricing and adoption. For instance, current estimates suggest that even with underdiagnosis, the total addressable market for Narsoplimab in the U.S. and EU could exceed $2 billion annually, based on an incidence of 10-15% among the roughly 30,000 annual allogeneic HCTs in those regions.

Here's the quick math on the scale of the problem and the potential impact of Narsoplimab. The clinical data showing a reduction in mortality risk by over 3-fold compared to historical controls is what drives physician and patient advocacy for approval. What this estimate hides, though, is the emotional toll; when a treatment offers a one-year survival of 44% for previously refractory patients, compared to historical rates under 20%, the social imperative to approve it becomes overwhelming.

The social factors driving the need for Omeros Corporation's therapy can be summarized by the stark contrast between the disease burden and the available options:

• High mortality in severe TA-TMA cases (up to 90%+).
• No currently approved standard of care for TA-TMA.
• Strong physician desire for mechanism-driven therapy.
• Patient advocacy groups pushing for rapid regulatory review.
• Narsoplimab showing a significant survival benefit in trials.

To be fair, the company's valuation as of November 12, 2025, at a market cap of $469M, reflects the market's current uncertainty despite this clear social need. The social acceptance and demand for a breakthrough therapy are high, but the market is waiting for the final regulatory sign-off, expected around September 2025.

To better visualize the severity and the potential market size based on incidence, look at these numbers:

Metric	Value/Range (2025 Context)	Source/Notes
Annual U.S. & EU Allogeneic HCTs	~30,000	Base population for TA-TMA
Incidence of Clinically Significant TA-TMA	10-15%	Of HCT recipients
Untreated Severe TA-TMA Mortality	Up to 90%	High-risk patient outcome
Narsoplimab Mortality Risk Reduction (HR)	As low as 0.24 (over 4-fold reduction)	Compared to external control
Estimated Peak Annual Sales Potential	$500M-$750M	Analyst projection

Finance: draft 13-week cash view by Friday.

Omeros Corporation (OMER) - PESTLE Analysis: Technological factors

You're looking at a company whose entire valuation hinges on its proprietary science, and right now, that science is centered on the complement system. The core tech here is narsoplimab, an antibody designed to selectively block MASP-2, which is the key enzyme in the lectin pathway of complement activation. This isn't just theoretical; the clinical data for treating hematopoietic stem cell transplant-associated thrombotic microangiopathy (TA-TMA) is compelling, even with the technical hurdles involved in rare disease trials.

Narsoplimab: Core Mechanism and Statistical Validation

The technical challenge for Omeros Corporation with narsoplimab was proving efficacy in a rare indication like TA-TMA where a traditional randomized control trial is nearly impossible. They navigated this by using complex statistical comparisons against an external control group-a historical registry of similarly high-risk patients. The results, which formed the basis of their resubmitted Biologics License Application (BLA) with a target action date of December 26, 2025, showed a statistically significant survival benefit. Specifically, the 28 patients in the pivotal trial demonstrated a hazard ratio of 0.32 ($p$-value less than 0.00001) compared to the registry group. That hazard ratio suggests a roughly three-fold improvement in overall survival, which is a massive technical win if the FDA agrees with the methodology.

Platform Validation Through Strategic Partnerships

Honestly, the technology platform gets a huge vote of confidence when a major player steps in. The deal for zaltenibart (OMS906), Omeros Corporation's MASP-3 inhibitor, to be acquired by Novo Nordisk for up to $2.1 billion validates the entire approach to drugging the complement cascade. This deal signals that the underlying science-inhibiting key enzymes like MASP-3, which activates the alternative pathway-is robust enough for a large pharmaceutical company to commit significant capital. This external validation helps de-risk the core technology underpinning narsoplimab, even though Omeros Corporation is prioritizing the latter for commercial launch.

Diversification Beyond Complement Inhibition

A good analyst never lets a company put all its eggs in one basket, and Omeros Corporation is trying to diversify its tech base. While narsoplimab is the immediate focus, they have other programs ready to go. Their active oncology platform, OncotoX biologics, is showing promising data, with the lead compound in the OncotoX-AML program aiming for the clinic within the next 18-24 months (as of Q2 2025). Plus, they have other assets like the PDE7 inhibitor, OMS527, which is in clinical development for cocaine use disorder and is fully funded by the National Institute on Drug Abuse. This pipeline depth, even if paused to conserve capital-they reported a net loss of $30.9 million in Q3 2025 with cash and investments at $28.7 million as of June 30, 2025-shows a broader technological capability.

Here's a quick look at how these key technological assets stack up as of late 2025:

Asset	Target/Platform	Development Status/Key Metric	Significance
Narsoplimab	MASP-2 (Lectin Pathway)	BLA under FDA review; HR of 0.32 in TA-TMA survival vs. external control	Lead product, potential first-in-class therapy for TA-TMA
Zaltenibart (OMS906)	MASP-3 (Alternative Pathway)	Global rights sold to Novo Nordisk for up to $2.1 billion	Platform validation and non-dilutive funding source
OncotoX-AML	Oncology Biologics	Lead compound expected in clinic in next 18-24 months (as of Q2 2025)	Pipeline diversification into oncology
OMS527	PDE7 Inhibitor	Clinical development for cocaine use disorder; NIDA-funded	Diversification into addictive/compulsive disorders

The reliance on external control groups for rare disease data is a technical tightrope walk; if the FDA pushes back on the matching methodology, it could delay the narsoplimab approval, even with the strong $p$-value. Still, the underlying science is what matters most for long-term value. Finance: draft 13-week cash view by Friday.

Omeros Corporation (OMER) - PESTLE Analysis: Legal factors

You're looking at the legal landscape for Omeros Corporation right now, and frankly, it's dominated by the high-stakes dance with the FDA and the critical need to clean up the balance sheet. These aren't abstract concerns; they directly impact your runway and market potential for narsoplimab.

The FDA's Regulatory Hurdles and Current Status

The history of regulatory friction is real, stemming from the 2021 Complete Response Letter (CRL) the FDA issued for narsoplimab in transplant-associated thrombotic microangiopathy (TA-TMA). The core issue then was the agency's difficulty in assessing the treatment effect from the initial data submission. Omeros has since taken a determined path, resubmitting the Biologics License Application (BLA) in March 2025. The good news is the FDA accepted this resubmission, classified as a Class 2, which is a significant legal step forward.

However, the timeline is still tight. The initial target action date was September 25, 2025, but after an information request from the FDA, the deadline has been pushed to December 26, 2025. This means the legal review process is still active and subject to final agency review. To be fair, Omeros noted that all analyses requested by the FDA so far have consistently supported the drug's benefit.

The legal path isn't just domestic; Omeros also submitted a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) for TA-TMA treatment, with EMA review commencing in mid-July 2025.

• BLA resubmission accepted: March 2025.
• FDA decision target date: December 26, 2025.
• Labeling discussions planned: By October 2025.
• EMA MAA review commenced: Mid-July 2025.

Debt Management and Covenant Relief

Debt management has been a constant legal and financial pressure point, but a major transaction with Novo Nordisk is set to resolve the most immediate risks. Omeros is planning to use the $240 million in upfront cash from that deal to eliminate nearly all near-term debt obligations. This is crucial because it wipes out restrictive covenants, like the $25 million minimum liquidity requirement tied to the secured credit agreement.

Here's the quick math on what's being retired:

Debt Instrument	Amount to be Repaid (Approximate)	Maturity/Action Date
Secured Term Loan Principal	$67.1 million	Upon closing of Novo Nordisk deal (Q4 2025)
2026 Convertible Notes (Remaining Principal)	$17.1 million	February 2026
Prepayment Premium & Interest	Variable (Included in repayment)	Q4 2025

What this estimate hides is the complexity of the restructuring that already happened. In May 2025, Omeros exchanged $70.5 million of the 2026 notes for new notes maturing in 2029, and another $10 million was converted to stock by September 2025. After the planned repayment, the only debt left will be the $70.8 million in 2029 notes, which aren't due until June 2029. That's a massive de-risking of the near-term legal obligations.

Intellectual Property Protection for Exclusivity

For any biopharma company, intellectual property (IP) is the bedrock of future revenue, and for Omeros, narsoplimab's exclusivity hinges on its patent estate. The issued patents protecting narsoplimab currently run out in 2032. Still, the company has pending patent applications that are expected to extend that market exclusivity well beyond that date, potentially out to 2037. This extended protection is vital, especially since Yartemlia (narsoplimab's brand name) is positioned to be the only reimbursable treatment for TA-TMA once approved, thanks to established CPT and ICD-10 codes. Protecting this novel asset is non-negotiable for realizing long-term value.

Finance: draft 13-week cash view by Friday.

Omeros Corporation (OMER) - PESTLE Analysis: Environmental factors

You're running a biopharma company, so you know the environmental tightrope walk is real. For Omeros Corporation, the focus on biologics like narsoplimab means environmental compliance isn't just a nice-to-have; it's baked into the cost of goods and operations.

Biopharmaceutical Manufacturing and Environmental Compliance

Manufacturing complex biological drugs means dealing with specialized waste streams and chemical handling, which puts Omeros Corporation squarely under the microscope of environmental regulators. Like its peers, Omeros must maintain a comprehensive compliance program to prevent, detect, and correct violations of applicable laws and policies. This isn't abstract; it means strict protocols for everything from solvent disposal to emissions control at any manufacturing sites used for their pipeline candidates.

The industry trend is clear: environmental responsibility is now a core operational mandate. For instance, in 2025, the broader pharmaceutical sector is seeing an increased adoption of Zero-Liquid Discharge (ZLD) methods to conserve water, as global water demand is projected to rise by 400% over the next 50 years. While Omeros Corporation is smaller than the giants, its operations are still subject to the same underlying environmental risk profile.

Drug Substance Supply Chain as a Past Expense Driver

Developing biologics requires a drug substance supply chain that is not only robust but also fully compliant, and this has historically been a significant drain on capital for Omeros Corporation. You can see this clearly in the numbers from the preceding year. For the year ended December 31, 2024, Omeros recorded $19.1 million in charges specifically related to the delivery of narsoplimab drug substance. This was a major component of their total $42.7 million in significant cost outlays that year.

To conserve capital leading into the anticipated commercial launch of narsoplimab, Omeros Corporation took decisive action in early 2025. They temporarily paused their expanded access program (EAP) to eliminate direct costs tied to drug supply for that program. This move directly addresses the cost pressure from maintaining a compliant, ready-to-go supply chain. To be fair, the reduction in net loss seen in the first nine months of 2025 compared to the prior year is partly because they incurred less of that upfront manufacturing expense in the current period.

Investor Scrutiny on ESG Reporting

Honestly, investor focus on Environmental, Social, and Governance (ESG) reporting is only intensifying, and this affects you whether you are a small-cap or a mega-cap. The biopharma industry, in general, carries an elevated ESG risk profile, with many companies receiving medium-risk ratings from groups like Sustainalytics. For Omeros Corporation, which is heavily focused on R&D and regulatory milestones as of 2025, the pressure might feel less immediate than for companies with massive commercial footprints, but it's still present.

The industry recognizes that 80% of its emissions come from Scope 3-that's your supply chain and transport. While large pharma companies are spending about $5.2 billion annually on environmental programs in 2025, smaller firms like Omeros Corporation need to strategically align their environmental efforts with their core business goals to satisfy stakeholders without overextending limited resources.

Here are the key environmental pressure points shaping the landscape:

• Regulators demand strict waste disposal protocols.
• Supply chain sustainability impacts Scope 3 emissions.
• Investors use ESG scores to gauge long-term risk.
• Biopharma accounts for nearly 5% of global GHG emissions.

Here's a quick look at the industry context:

Environmental Metric/Trend	Industry Data Point (as of 2025)	Source Context
GHG Emissions Share	Almost 5% of world's total emissions	Pharmaceutical Sector
Scope 3 Emissions Share	80% of industry emissions	Supply chain, transport, disposal
Sustainable Practice Impact	Carbon emission reduction of 30-40%	Average for companies adopting green initiatives
Narsoplimab Drug Substance Charge (2024)	$19.1 million	Omeros Corporation prior year expense
ESG Risk Profile	Higher concentration of medium-risk ratings	Compared to other sectors

If Omeros Corporation secures approval for narsoplimab, the scale-up of commercial manufacturing will immediately bring these environmental compliance and supply chain costs into sharper focus on the P&L. Finance: draft a sensitivity analysis on manufacturing overhead assuming a 10% increase in waste disposal compliance costs by next quarter.