This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Omeros, EXFO: After-Hours Trading

NEW YORK ( TheStreet) -- Shares of Omeros Corp. (OMER - Get Report) plummeted in late trades on Thursday after the Seattle-based biotech reported disappointing late-stage clinical trial results.

The company said its phase III trials of OMS103HP, a drug being developed to improve joint motion and reduce pain following arthroscopic anterior cruciate ligament (ACL) reconstruction surgery, failed to meet pre-specified endpoints.

The stock was last quoted at $4.95, down 38%, on volume of around 66,000, according to Based on a regular session close at $8, the shares were up 19% in the past year.

"Given the strength of the data from previous clinical studies of OMS103HP, we are obviously disappointed and surprised by the outcome," said Greory Demopulos, the company's chairman and CEO, in a statement. "Our analysis of the data does not demonstrate a lack of drug effect nor does it appear to undermine the viability of our Phase 3-ready OMS103HP program for meniscectomy surgery."

The company said it plans to further analyze the OMS103HP data, and that it plans to announce additional information about its plans for the product in the future. Prior to the news, Wall Street was pretty positive about the shares with the seven analysts covering the stock at either strong buy (5) or buy (2).


Shares of EXFO Inc. (EXFO - Get Report) slumped after the closing bell after the Canadian maker of networking testing equipment issued a below-consensus outlook for the current quarter.

The company said it sees earnings of 1 to 5 cents a share in its fiscal third quarter ending in May on revenue of between $67 million and $72 million. The forecast includes 4 cents per share in costs related to amortization of intangible assets and stock-based compensation.

The current average estimate of analysts polled by Thomson Reuters, which typically excludes items, calls for earnings of 11 cents a share in the quarter on revenue of $73.2 million.

The stock was last quoted at $10, down 8.5%, on volume of around 75,000, according to Based on a regular session close at $10.93, the shares were up more than 80% in the past year, although they'd pulled back since hitting a 52-week high of $13.19 on March 8.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
EXFO $4.28 0.00%
KKD $17.41 0.00%
OMER $13.25 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs