<?xml version='1.0' encoding='UTF-8'?>

      <!-- iXBRL document created with: Toppan Merrill Bridge iXBRL 10.1.0.3 -->
      <!-- Based on: iXBRL 1.1 -->
      <!-- Created on: 10/6/2022 8:32:14 PM -->
      <!-- iXBRL Library version: 1.0.8263.24741 -->
      <!-- iXBRL Service Job ID: eb584b50-3131-4acb-95c1-2cccecdb7e67 -->

  <html xmlns:dei="http://xbrl.sec.gov/dei/2021" xmlns="http://www.w3.org/1999/xhtml" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:omer="http://www.omeros.com/20220930" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xs="http://www.w3.org/2001/XMLSchema-instance" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:xbrli="http://www.xbrl.org/2003/instance"><head><meta http-equiv="content-type" content="text/html" /><title></title></head><body><div style="margin-top:30pt;"></div><div style="display:none;"><ix:header><ix:hidden><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" name="dei:EntityCentralIndexKey" id="Tc_eeHB87JCh0aNq7JQkqsZMA_2_1">0001285819</ix:nonNumeric><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" name="dei:AmendmentFlag" id="Tc_jU9nbIXaI0KfpG4KStiD1g_3_1">false</ix:nonNumeric></ix:hidden><ix:references><link:schemaRef xlink:href="omer-20220930.xsd" xlink:type="simple"></link:schemaRef></ix:references><ix:resources><xbrli:context id="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0001285819</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2022-09-30</xbrli:startDate><xbrli:endDate>2022-09-30</xbrli:endDate></xbrli:period></xbrli:context></ix:resources></ix:header></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;min-height:11.5pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:1pt;padding-top:1pt;text-align:center;text-indent:0pt;border-bottom:1px solid #000000;border-top:3.0pt solid #000000;margin:0pt;"><span style="font-size:1pt;font-weight:bold;margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><span style="font-size:6pt;margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-size:18pt;font-weight:bold;">UNITED STATES</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-size:18pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">WASHINGTON, D.C. 20549</b></p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:100%;border:none;margin:0 auto;"></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:18pt;font-weight:bold;text-align:center;text-indent:0pt;margin:0pt;">FORM&#160;<ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" name="dei:DocumentType" id="Narr_isQkGiNHqE6oRw6HvUjFYw">8-K</ix:nonNumeric></p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:100%;border:none;margin:0 auto;"></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">CURRENT REPORT</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><span style="font-size:6pt;margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">Pursuant to Section&#160;13 or 15(d)&#160;of the Securities Exchange Act of 1934</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><span style="font-size:6pt;margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">Date of Report (Date of earliest event reported): </b><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate" id="Narr_FX5KCny4ik2MKMz-klBYZA"><b style="font-weight:bold;">September 30, 2022</b></ix:nonNumeric></p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:100%;border:none;margin:0 auto;"></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:24pt;font-weight:bold;text-align:center;text-indent:0pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" name="dei:EntityRegistrantName" id="Narr_JkYA4AXzM0OnrMF8huTt5A">OMEROS CORPORATION</ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">(Exact name of Registrant as Specified in Its Charter)</b></p><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:100%;border:none;margin:0 auto;"></div></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><span style="font-size:6pt;margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><a id="_439b5711_d9b7_412e_9fb8_26d33a59c6a2"></a><a id="Tc_mHR3fgnXe0e_rbEm5MzY4A_1_0"></a><a id="Tc_GtPfgn0dbE6j9lhi8gVL0w_1_1"></a><a id="Tc_RG91KyNikU-nNQ1pKtGlQQ_1_2"></a><a id="Tc_RjWLAyjcGU25iXZx_Wp-Og_3_0"></a><a id="Tc_UMBKp6qhDEKH_S9MZy0Gbw_4_0"></a><a id="Tc_6YQy1TjYtEKgeCtNzCDg-A_4_2"></a><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:bottom;width:33.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" format="ixt-sec:stateprovnameen" name="dei:EntityIncorporationStateCountryCode" id="Tc_YLRFD5PWU0uoiMMQBWyjkw_0_0"><b style="font-weight:bold;">Washington</b></ix:nonNumeric></p></td><td style="vertical-align:bottom;width:33.29%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" name="dei:EntityFileNumber" id="Tc_CfCqDgyma0S0LJOsOm6nCQ_0_1"><b style="font-weight:bold;">001-34475</b></ix:nonNumeric></p></td><td style="vertical-align:bottom;width:33.31%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" name="dei:EntityTaxIdentificationNumber" id="Tc_A0nuvY227kK8WAYa11VYEQ_0_2"><b style="font-weight:bold;">91-1663741</b></ix:nonNumeric></p></td></tr><tr><td style="vertical-align:bottom;width:33.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">(State or Other Jurisdiction</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">of Incorporation)</b></p></td><td style="vertical-align:top;width:33.29%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">(Commission File Number)</b></p></td><td style="vertical-align:bottom;width:33.31%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">(IRS Employer</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Identification No.)</b></p></td></tr><tr><td style="vertical-align:bottom;width:33.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:6pt;text-indent:0pt;margin:0pt;">&#160;</p></td><td style="vertical-align:bottom;width:33.29%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:6pt;text-indent:0pt;margin:0pt;">&#160;</p></td><td style="vertical-align:bottom;width:33.31%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:6pt;text-indent:0pt;margin:0pt;">&#160;</p></td></tr><tr><td style="vertical-align:bottom;width:33.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" name="dei:EntityAddressAddressLine1" id="Narr_7cyEaWjzgkikU_6QVOpx6Q"><b style="font-weight:bold;">201 Elliott Avenue West</b></ix:nonNumeric><br /><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" name="dei:EntityAddressCityOrTown" id="Narr_HElIU9p0MEeIpyhJioeAhw"><b style="font-weight:bold;">Seattle</b></ix:nonNumeric><b style="font-weight:bold;">, </b><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" name="dei:EntityAddressStateOrProvince" id="Narr_no48Z7CD8kC4bjvy6UfJWA"><b style="font-weight:bold;">WA</b></ix:nonNumeric></p></td><td style="vertical-align:bottom;width:33.29%;margin:0pt;padding:0pt 1pt 0pt 2pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;">&#160;</p></td><td style="vertical-align:bottom;width:33.31%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" name="dei:EntityAddressPostalZipCode" id="Tc__AfFLeZuxkSzFR2DUehM9g_3_2"><b style="font-weight:bold;">98119</b></ix:nonNumeric></p></td></tr><tr><td style="vertical-align:bottom;width:33.38%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">(Address of Principal Executive Offices)</b></p></td><td style="vertical-align:bottom;width:33.29%;margin:0pt;padding:0pt 1pt 0pt 2pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-indent:0pt;margin:0pt;">&#160;</p></td><td style="vertical-align:top;width:33.31%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">(Zip Code)</b></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:6pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">Registrant&#8217;s Telephone Number, Including Area Code: (</b><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" name="dei:CityAreaCode" id="Narr_6gMAD8xzaU6jCMeHleTr-g"><b style="font-weight:bold;">206</b></ix:nonNumeric><b style="font-weight:bold;">) </b><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" name="dei:LocalPhoneNumber" id="Narr_g3PKvkMs20-BTBYil5BmxA"><b style="font-weight:bold;">676-5000</b></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><span style="font-size:6pt;margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;">(Former Name or Former Address, if Changed Since Last Report)</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><span style="font-size:6pt;margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;">Check the appropriate box below if the Form&#160;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><span style="font-size:6pt;margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" format="ixt-sec:boolballotbox" name="dei:WrittenCommunications" id="Narr_Z-BHQxDzz0KOytMIytx3dQ"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric>&#160;&#160;&#160;&#160;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><span style="font-size:6pt;margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" format="ixt-sec:boolballotbox" name="dei:SolicitingMaterial" id="Narr_yVQNJhov-UuALwmKdWjXvA"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric>&#160;&#160;&#160;&#160;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><span style="font-size:6pt;margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" format="ixt-sec:boolballotbox" name="dei:PreCommencementTenderOffer" id="Narr_oKd3yaiI10eB7UAKo2pycg"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric>&#160;&#160;&#160;&#160;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><span style="font-size:6pt;margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" format="ixt-sec:boolballotbox" name="dei:PreCommencementIssuerTenderOffer" id="Narr_mfDi54lnZ0-Uk_EXeYnjfQ"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric>&#160;&#160;&#160;&#160;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><span style="font-size:6pt;margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Securities Registered Pursuant to Section 12(b) of the Act:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:6pt;visibility:hidden;">&#8203;</span></p><a id="_fc824eb1_f8ea_4b0e_83a7_c681efbb8280"></a><a id="Tc_WOeBoRzuxkqHAM0EBgrE_w_0_0"></a><a id="Tc_ItqOlN1AYEK4O8Pby8pj3w_0_1"></a><a id="Tc_jz1RYREkp0OWyKZg_lVphw_0_2"></a><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr><td style="vertical-align:bottom;width:38.75%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;">Title of each class</p></td><td style="vertical-align:bottom;width:23.37%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;">Trading Symbol(s)</p></td><td style="vertical-align:bottom;width:37.86%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;">Name of each exchange on which registered</p></td></tr><tr><td style="vertical-align:bottom;width:38.75%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" name="dei:Security12bTitle" id="Tc_XZQS07X2FUua0NacPFO68A_1_0">Common stock, $0.01 par value per share</ix:nonNumeric></p></td><td style="vertical-align:bottom;width:23.37%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" name="dei:TradingSymbol" id="Tc_fuawdbr_ski_o52pVk6_dA_1_1">OMER</ix:nonNumeric></p></td><td style="vertical-align:bottom;width:37.86%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;text-indent:0pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName" id="Tc_ogC12C_cNE2PiKZ6b5ePmA_1_2">The Nasdaq Stock Market LLC</ix:nonNumeric></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:6pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule&#160;405 under the Securities Act of 1933 (17 CFR&#160;230.405) or Rule&#160;12b-2&#160;under the Securities Exchange Act of 1934&#160;(17 CFR&#160;240.12b-2).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:6pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt;">Emerging growth company <ix:nonNumeric contextRef="Duration_9_30_2022_To_9_30_2022_lk6-VP3X30GQCoyfIbHD6g" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="Narr_vCDTP-W0xkmRTPP8mt-1Sg"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:6pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <span style="font-family:'Segoe UI Symbol';">&#9744;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><span style="font-size:6pt;margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:1pt;padding-top:1pt;text-indent:0pt;border-bottom:3.0pt solid #000000;border-top:1px solid #000000;margin:0pt;"><span style="font-size:1pt;margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><span style="font-size:6pt;margin-bottom:12pt;visibility:hidden;">&#8203;</span></p><p style="display:none;font-family:'Times New Roman','Times','serif';line-height:0pt;margin:0pt;"><span style="font-size:0pt;visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:11.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:top;width:88.46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.45pt;text-indent:36pt;margin:0pt;"><span style="font-size:11.45pt;font-weight:bold;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr style="height:12.4pt;"><td style="vertical-align:top;width:11.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.45pt;margin:0pt;"><b style="font-weight:bold;">Item&#160;1.01</b></p></td><td style="vertical-align:top;width:88.46%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.45pt;margin:0pt 0pt 0pt 2.4pt;"><b style="font-weight:bold;">Entry into a Definitive Material Agreement.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.45pt;text-indent:36pt;margin:0pt;"><span style="font-size:11.45pt;font-weight:bold;visibility:hidden;">&#8203;</span></p></td></tr><tr style="height:12.4pt;"><td style="vertical-align:top;width:11.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.25;margin:0pt 4.3pt 0pt 0pt;"><b style="font-weight:bold;">Item 2.03 </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.45pt;text-indent:36pt;margin:0pt;"><span style="font-size:11.45pt;font-weight:bold;visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:top;width:88.46%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.45pt;margin:0pt 0pt 0pt 2.4pt;"><b style="font-weight:bold;">Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.45pt;text-indent:36pt;margin:0pt;"><span style="font-size:11.45pt;font-weight:bold;visibility:hidden;">&#8203;</span></p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.26;margin:0pt 4pt 0pt 0pt;">On September 30, 2022, Omeros Corporation (the &#8220;Company&#8221;) entered into a royalty purchase agreement (the &#8220;Royalty Purchase Agreement&#8221;) with DRI Healthcare Acquisitions LP (the &#8220;Purchaser&#8221;) providing for the acquisition (the &#8220;Royalty Transaction&#8221;) by the Purchaser of an interest in certain royalty payments based on annual net sales of the Company&#8217;s former ophthalmologic product, OMIDRIA<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">&#174;</sup> (the &#8220;Purchased Receivables&#8221;). The Purchased Receivables comprise a portion of the royalties projected to be paid to the Company under the terms of the Asset Purchase Agreement (the &#8220;Asset Purchase Agreement&#8221;) among the Company, Rayner Surgical Inc. (&#8220;Rayner&#8221;) and Rayner Surgical Group Limited, pursuant to which the Company sold OMIDRIA and related business assets to Rayner in December 2021. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.26;margin:0pt 4pt 0pt 0pt;"><span style="margin-right:0pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.26;margin:0pt 4pt 0pt 0pt;">The Company received the purchase price of $125.0 million upon closing of the Royalty Transaction on September 30, 2022. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.26;margin:0pt 4pt 0pt 0pt;"><span style="margin-right:0pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.26;margin:0pt 4pt 0pt 0pt;">Under the Royalty Purchase Agreement, DRI is entitled to royalty payments on net sales of OMIDRIA received between September 1, 2022 and December 31, 2030, subject to annual caps. The caps are set at $1.67 million for the remainder of 2022, $13 million for calendar year 2023, $20 million for calendar year 2024, $25 million for calendar years 2025 through 2028, $26.25 million for calendar year 2029 and $27.50 million for calendar year 2030. The total payments to DRI throughout the term of the Royalty Purchase Agreement are $188.4 million.  </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.26;margin:0pt 4pt 0pt 0pt;"><span style="margin-right:0pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.26;margin:0pt 4pt 0pt 0pt;">DRI is not entitled to carry-forward nor recoup any shortfall if the royalties paid by Rayner for an annual period are less than the cap amount applicable to that period. Omeros will retain all royalties received during a given annual period in excess of the respective cap. DRI has no recourse to Omeros&#8217; assets other than the Purchased Receivables and is entitled to payment for the Purchased Receivables only to the extent of royalty payments actually received, up to the previously described annual caps.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.26;margin:0pt 4pt 0pt 0pt;"><span style="margin-right:0pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.26;margin:0pt 4pt 0pt 0pt;">Royalty payments, as received from Rayner, will be allocated between the Company and the Purchaser each month based on the amount to which DRI is entitled. Monthly caps are determined by dividing the annual cap amount by 12 or, in the case of the partial calendar year 2022, by four, and are subject to intra-year catch-up mechanisms. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The Royalty Purchase Agreement contains other customary terms, conditions and agreements, including representations, warranties and indemnity provisions. Given that this is a partial sale of OMIDRIA royalties, there are no asset pledges or financial covenants. The Royalty Purchase Agreement will terminate on the the earlier of (i) December 31, 2030, or (ii) the date on which Purchaser has received the last payment of Purchased Receivables made pursuant to the Asset Purchase Agreement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">The foregoing is a brief description of the material terms of the Royalty Purchase Agreement and does not purport to be a complete description of the rights and obligations thereunder. A copy of the Royalty Purchase Agreement will be filed as an exhibit to the Company&#8217;s Quarterly Report on Form 10-Q for the quarter ended September 30, 2022. The Royalty Purchase Agreement contains representations, warranties and other provisions that were made only for purposes of such agreement and as of specific dates, are solely for the benefit of the parties thereto, and may be subject to limitations agreed upon by such parties. The Royalty Purchase Agreement is not intended to provide any other factual information about the Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:11.45pt;margin:0pt;"><span style="font-size:11.45pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are subject to the &#8220;safe harbor&#8221; created by those sections for such statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;could,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;goal,&#8221; &#8220;intend,&#8221; &#8220;likely,&#8221; &#8220;look forward to,&#8221; &#8220;may,&#8221; &#8220;objective,&#8221; &#8220;plan,&#8221; &#8220;possible,&#8221; &#8220;potential,&#8221; &#8220;predict,&#8221; &#8220;project,&#8221; &#8220;should,&#8221; &#8220;slate,&#8221; &#8220;target,&#8221; &#8220;will,&#8221; &#8220;would&#8221; and similar expressions and variations thereof. Forward-looking statements, including projections of future royalties payable based on net sales of OMIDRIA, are based on management&#8217;s beliefs and assumptions and on </p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">information available to management only as of the date hereof. The Company&#8217;s actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including, without limitation, risks associated with product commercialization and commercial operations, regulatory processes and oversight,&#160;payment and reimbursement policies applicable to OMIDRIA,&#160;and the risks, uncertainties and other factors described under the heading &#8220;Risk Factors&#8221; in the Company&#8217;s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2022. Given these risks, uncertainties and other factors, you should not place undue reliance on these forward-looking statements, and the Company assumes no obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-weight:bold;visibility:hidden;">&#8203;</span></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:79.3%;border:0;margin:30pt 10.35% 30pt 10.35%;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:center;margin:0pt 0pt 12pt 0pt;">SIGNATURES</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:50.08%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:bottom;width:3.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:bottom;width:46.21%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;width:50.08%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-weight:bold;visibility:hidden;">&#8203;</span></p></td><td colspan="2" style="vertical-align:bottom;width:49.91%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">OMEROS CORPORATION</b></p></td></tr><tr><td style="vertical-align:bottom;width:50.08%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:3.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:46.21%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td></tr><tr><td style="vertical-align:middle;width:50.08%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Date: October 6, 2022</p></td><td style="vertical-align:bottom;width:3.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">By:</p></td><td style="vertical-align:bottom;width:46.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">/s/ Gregory A. Demopulos</p></td></tr><tr><td style="vertical-align:bottom;width:50.08%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:3.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:46.21%;border-top:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Gregory A. Demopulos, M.D.</p></td></tr><tr><td style="vertical-align:bottom;width:50.08%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:3.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:46.21%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">President, Chief Executive Officer and</p></td></tr><tr><td style="vertical-align:bottom;width:50.08%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:3.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></td><td style="vertical-align:bottom;width:46.21%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Chairman of the Board of Directors</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div><div style="clear:both;margin-bottom:30pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;margin-left:10.35%;margin-right:10.35%;margin-top:30pt;page-break-after:avoid;width:79.3%;border:0;"></div></body></html>
[{"type": "8-K", "sequence": "1", "filename": "omer-20220930x8k.htm", "description": "8-K", "secsgml_size_bytes": 40752}]
{"company-data": {"conformed-name": "OMEROS CORP", "cik": "0001285819", "assigned-sic": "2834", "irs-number": "911663741", "state-of-incorporation": "WA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-34475", "film-number": "221298522"}, "business-address": {"street1": "201 ELLIOTT AVENUE WEST", "city": "SEATTLE", "state": "WA", "zip": "98119", "phone": "206-676-5000"}, "mail-address": {"street1": "201 ELLIOTT AVENUE WEST", "city": "SEATTLE", "state": "WA", "zip": "98119"}}
​
​
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
8-K
CURRENT REPORT
​
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
​
Date of Report (Date of earliest event reported):
September 30, 2022
OMEROS CORPORATION
(Exact name of Registrant as Specified in Its Charter)
​
Washington
001-34475
91-1663741
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
201 Elliott Avenue West
Seattle
,
WA
98119
(Address of Principal Executive Offices)
(Zip Code)
​
Registrant's Telephone Number, Including Area Code: (
206
)
676-5000
​
(Former Name or Former Address, if Changed Since Last Report)
​
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
​
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
​
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
​
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
​
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
​
Securities Registered Pursuant to Section 12(b) of the Act:
​
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common stock, $0.01 par value per share
OMER
The Nasdaq Stock Market LLC
​
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 under the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
​
Emerging growth company
☐
​
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
​
​
​
​
​
​
Item 1.01
Entry into a Definitive Material Agreement.
​
Item 2.03
​
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
​
​
On September 30, 2022, Omeros Corporation (the "Company") entered into a royalty purchase agreement (the "Royalty Purchase Agreement") with DRI Healthcare Acquisitions LP (the "Purchaser") providing for the acquisition (the "Royalty Transaction") by the Purchaser of an interest in certain royalty payments based on annual net sales of the Company's former ophthalmologic product, OMIDRIA
®
(the "Purchased Receivables"). The Purchased Receivables comprise a portion of the royalties projected to be paid to the Company under the terms of the Asset Purchase Agreement (the "Asset Purchase Agreement") among the Company, Rayner Surgical Inc. ("Rayner") and Rayner Surgical Group Limited, pursuant to which the Company sold OMIDRIA and related business assets to Rayner in December 2021.
​
The Company received the purchase price of $125.0 million upon closing of the Royalty Transaction on September 30, 2022.
​
Under the Royalty Purchase Agreement, DRI is entitled to royalty payments on net sales of OMIDRIA received between September 1, 2022 and December 31, 2030, subject to annual caps. The caps are set at $1.67 million for the remainder of 2022, $13 million for calendar year 2023, $20 million for calendar year 2024, $25 million for calendar years 2025 through 2028, $26.25 million for calendar year 2029 and $27.50 million for calendar year 2030. The total payments to DRI throughout the term of the Royalty Purchase Agreement are $188.4 million.
​
DRI is not entitled to carry-forward nor recoup any shortfall if the royalties paid by Rayner for an annual period are less than the cap amount applicable to that period. Omeros will retain all royalties received during a given annual period in excess of the respective cap. DRI has no recourse to Omeros' assets other than the Purchased Receivables and is entitled to payment for the Purchased Receivables only to the extent of royalty payments actually received, up to the previously described annual caps.
​
Royalty payments, as received from Rayner, will be allocated between the Company and the Purchaser each month based on the amount to which DRI is entitled. Monthly caps are determined by dividing the annual cap amount by 12 or, in the case of the partial calendar year 2022, by four, and are subject to intra-year catch-up mechanisms.
​
The Royalty Purchase Agreement contains other customary terms, conditions and agreements, including representations, warranties and indemnity provisions. Given that this is a partial sale of OMIDRIA royalties, there are no asset pledges or financial covenants. The Royalty Purchase Agreement will terminate on the the earlier of (i) December 31, 2030, or (ii) the date on which Purchaser has received the last payment of Purchased Receivables made pursuant to the Asset Purchase Agreement.
​
The foregoing is a brief description of the material terms of the Royalty Purchase Agreement and does not purport to be a complete description of the rights and obligations thereunder. A copy of the Royalty Purchase Agreement will be filed as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2022. The Royalty Purchase Agreement contains representations, warranties and other provisions that were made only for purposes of such agreement and as of specific dates, are solely for the benefit of the parties thereto, and may be subject to limitations agreed upon by such parties. The Royalty Purchase Agreement is not intended to provide any other factual information about the Company.
​
This Current Report on Form 8-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are subject to the "safe harbor" created by those sections for such statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as "anticipate," "believe," "could," "estimate," "expect," "goal," "intend," "likely," "look forward to," "may," "objective," "plan," "possible," "potential," "predict," "project," "should," "slate," "target," "will," "would" and similar expressions and variations thereof. Forward-looking statements, including projections of future royalties payable based on net sales of OMIDRIA, are based on management's beliefs and assumptions and on
​
information available to management only as of the date hereof. The Company's actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including, without limitation, risks associated with product commercialization and commercial operations, regulatory processes and oversight, payment and reimbursement policies applicable to OMIDRIA, and the risks, uncertainties and other factors described under the heading "Risk Factors" in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2022. Given these risks, uncertainties and other factors, you should not place undue reliance on these forward-looking statements, and the Company assumes no obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
​
​
​
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
​
​
​
​
OMEROS CORPORATION
​
​
​
Date: October 6, 2022
By:
/s/ Gregory A. Demopulos
​
​
Gregory A. Demopulos, M.D.
​
​
President, Chief Executive Officer and
​
​
Chairman of the Board of Directors
​
​