Estados financieros detallados de Omeros Corporation (OMER): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Márgenes de los últimos 12 meses: margen bruto 95.8%, margen operativo -189.5%, margen neto 324.9%.
Al precio actual de $17.34, OMER cotiza a un P/E de 8.04 y un ROE del -109.40%. La capitalización bursátil es de $1.3B.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $41.6M | $64.8M | $29.9M | $111.8M | 0 | 0 | 0 | 0 | 0 | 0 |
| Coste de Ventas | $1.4M | $1.1M | $512000 | $2.7M | $1.6M | $1.4M | 0 | 0 | 0 | 0 |
| Beneficio Bruto | $40.2M | $63.7M | $29.4M | $109.2M | -$1.6M | -$1.4M | 0 | 0 | 0 | 0 |
| I+D | $50.7M | $55.6M | $89.9M | $109.7M | $107.6M | $118.8M | $112.7M | $114.9M | $119.5M | $81.3M |
| Generales y Administrativos | $43.8M | $52.0M | $51.7M | $62.8M | $47.7M | $53.5M | $50.7M | $49.7M | $49.7M | $41.5M |
| Gastos Operativos | $94.5M | $107.6M | $141.6M | $172.5M | $155.3M | $172.2M | $163.4M | $164.5M | $169.3M | $122.8M |
| Beneficio Operativo | -$54.3M | -$43.9M | -$112.2M | -$63.4M | -$156.9M | -$173.6M | -$163.4M | -$164.5M | -$169.3M | -$122.8M |
| EBITDA | -$58.6M | -$41.9M | -$122.5M | -$60.0M | -$168.0M | -$170.5M | -$158.4M | -$143.2M | -$157.0M | -$1.8M |
| Gastos por Intereses | $7.8M | $11.0M | $16.3M | $22.7M | $26.8M | $19.7M | $22.7M | $30.8M | $24.7M | 0 |
| Beneficio Antes de Impuestos | -$66.7M | -$53.5M | -$139.7M | -$84.5M | -$196.4M | -$191.5M | -$182.0M | -$174.9M | -$182.6M | -$2.8M |
| Impuestos | 0 | 0 | -$12.9M | 0 | -$23.3M | 0 | 0 | 0 | 0 | $2.0M |
| Beneficio Neto | -$66.7M | -$53.5M | -$126.8M | -$84.5M | -$138.1M | -$111.4M | $47.4M | -$117.8M | -$156.8M | -$3.4M |
| BPA | $-1.65 | $-1.17 | $-2.61 | $-2.16 | $-2.41 | $-1.79 | $0.46 | $-1.88 | $-2.70 | $-0.05 |
| BPA Diluido | $-1.65 | $-1.17 | $-2.61 | $-2.16 | $-2.41 | $-1.79 | $0.46 | $-1.88 | $-2.70 | $-0.05 |
| Acciones en Circulación (Diluidas) | $40.4M | $45.5M | $48.6M | $49.5M | $57.2M | $62.3M | $62.7M | $62.7M | $58.2M | $63.5M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | $9.9M | $28.5M |
| Beneficio Bruto | 0 | 0 | $9.1M | $27.7M |
| Beneficio Operativo | -$26.4M | -$29.1M | -$17.4M | $74000 |
| EBITDA | -$21.0M | $82.1M | $57.4M | $17.6M |
| Beneficio Neto | -$30.9M | $86.5M | $56.1M | $13.2M |
| BPA | $-0.47 | $1.42 | $0.78 | $0.18 |
| BPA Diluido | $-0.47 | $1.42 | $0.62 | $0.15 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $2.2M | $3.4M | $5.9M | $3.1M | $10.5M | $100.8M | $11.0M | $7.1M | $3.4M | $9.7M |
| Inversiones a Corto | $43.1M | $80.4M | $54.6M | $57.7M | $124.5M | $56.5M | $183.9M | $164.7M | $86.7M | $162.1M |
| Cuentas por Cobrar | $12.0M | $17.1M | $22.8M | $35.2M | $3.8M | $82.5M | $242.0M | $6.7M | $36.8M | $36.3M |
| Inventario | $1.1M | $443000 | $52.5M | $1.1M | $1.4M | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $60.3M | $108.4M | $89.9M | $103.7M | $151.3M | $248.0M | $443.2M | $217.9M | $134.1M | $215.7M |
| Inmovilizado Material | $1.2M | $2.1M | $3.8M | $30.9M | $28.1M | $30.0M | $23.3M | $20.6M | $17.6M | $12.5M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $67.3M | $116.3M | $95.9M | $137.0M | $181.0M | $419.3M | $591.0M | $378.3M | $277.1M | $325.6M |
| Cuentas por Pagar | $2.5M | $6.7M | $6.3M | $5.3M | $4.2M | $13.4M | $6.0M | $7.7M | $5.9M | $4.8M |
| Deuda a Corto | 0 | 0 | 0 | $3.5M | 0 | 0 | $94.4M | $8.6M | $21.0M | $17.1M |
| Pasivos Corrientes | $16.1M | $26.3M | $37.4M | $55.5M | $36.7M | $51.8M | $136.4M | $53.3M | $79.5M | $78.1M |
| Deuda a Largo | $79.5M | $83.3M | $149.0M | $158.2M | $236.3M | $313.5M | $220.9M | $329.7M | $166.6M | $208.5M |
| Pasivos Totales | $104.7M | $119.1M | -$4.2M | $246.0M | $301.8M | $395.5M | $505.3M | $403.3M | $459.7M | $446.9M |
| Reservas | -$469.9M | -$523.4M | $650.1M | -$734.6M | -$872.7M | -$683.1M | -$635.7M | -$753.5M | -$910.3M | -$913.7M |
| Patrimonio Neto | -$37.4M | -$2.8M | $650.1M | -$109.0M | -$120.8M | $23.8M | $85.7M | -$25.0M | -$182.6M | -$121.2M |
| Deuda Total | $80.0M | $84.6M | $151.4M | $194.0M | $268.8M | $347.8M | $342.0M | $361.6M | $207.0M | $239.1M |
| Deuda Neta | $34.7M | $858000 | $91.0M | $133.2M | $133.9M | $190.6M | $147.1M | $189.7M | $116.9M | $67.3M |
| Capital Circulante | $44.2M | $82.1M | $52.5M | $48.3M | $114.5M | $196.2M | $306.9M | $164.6M | $54.6M | $137.6M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $2.4M | $9.7M | $1.9M | $2.0M |
| Activos Totales | $185.7M | $325.6M | $286.2M | $286.8M |
| Pasivos Totales | $406.2M | $446.9M | $349.5M | $338.2M |
| Patrimonio Neto | -$220.5M | -$121.2M | -$63.3M | -$51.3M |
| Deuda Total | $191.6M | $239.1M | $310.6M | $83.8M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$66.7M | -$53.5M | -$126.8M | -$84.5M | -$138.1M | -$191.5M | -$182.0M | -$117.8M | -$156.8M | -$3.4M |
| Amortizaciones | $300000 | $551000 | $962000 | $1.8M | $1.6M | $1.4M | $952000 | $920000 | $950000 | $964000 |
| Compensación en Acciones | $13.6M | $12.7M | $11.7M | $13.8M | $14.9M | 0 | 0 | $11.7M | $10.5M | $8.2M |
| Cambio en Capital Circulante | -$6.2M | -$172000 | $4.3M | -$394000 | $7.6M | -$14.1M | -$119.0M | $247.4M | $29.7M | $33.7M |
| Flujo de Caja Operativo | -$51.5M | -$36.2M | -$103.7M | -$60.1M | -$100.1M | -$109.7M | -$86.5M | $74.7M | -$148.8M | -$116.1M |
| Inversiones (CapEx) | -$126000 | -$350000 | -$567000 | -$334000 | -$283000 | -$277000 | -$113000 | -$426000 | -$165000 | -$65000 |
| Adquisiciones | $126000 | 0 | 0 | $3067 | 0 | $126.0M | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$4.7M | -$11.9M | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$51.6M | -$36.6M | -$104.3M | -$60.4M | -$100.4M | -$110.0M | -$86.6M | $74.3M | -$149.0M | -$116.2M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$18.5M | -$39.8M | -$14.5M | $4.1M |
| Inversiones (CapEx) | -$11000 | 0 | 0 | -$45000 |
| Flujo de Caja Libre | -$18.5M | -$39.8M | -$14.5M | $4.1M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $1.9M | $1.7M | 0 | $1.6M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +55.8% | -53.9% | +274.3% | -100.0% | | | | | |
| Crecimiento Beneficio Neto (anual) | | +19.9% | -137.0% | +33.3% | -63.4% | +19.3% | +142.6% | -348.5% | -33.1% | +97.9% |
| Crecimiento BPA (anual) | | +29.1% | -123.1% | +17.2% | -11.6% | +25.7% | +125.7% | -508.7% | -43.6% | +98.0% |
| Cambio en Acciones (anual) | | +12.6% | +6.7% | +1.9% | +15.5% | +9.0% | +0.6% | +0.0% | -7.3% | +9.2% |
| Crecimiento FCF (anual) | | +29.2% | -185.2% | +42.1% | -66.2% | -9.6% | +21.3% | +185.8% | -300.5% | +22.0% |
| Margen Bruto | 96.6% | 98.3% | 98.3% | 97.6% | | | | | | |
| Margen Operativo | -130.4% | -67.7% | -375.7% | -56.7% | | | | | | |
| Margen EBITDA | -140.9% | -64.6% | -410.0% | -53.7% | | | | | | |
| Margen Neto | -160.4% | -82.5% | -424.4% | -75.6% | | | | | | |
| Margen FCF | -124.1% | -56.4% | -349.2% | -54.0% | | | | | | |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | 9.3% | -0.0% | 11.8% | -0.0% | -0.0% | -0.0% | -0.0% | -72.0% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-1.28 | $-0.80 | $-2.15 | $-1.22 | $-1.76 | $-1.76 | $-1.38 | $1.18 | $-2.56 | $-1.83 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $40.4M | $45.5M | $48.6M | $49.5M | $57.2M | $62.3M | $62.7M | $62.7M | $58.2M | $63.5M |
Qué mirar en Biotech
La mayoría de biotechs pequeñas pierden dinero. Analizarlas con P/E no tiene sentido — mira caja y pipeline.
- Cash Runway — Meses de caja al ritmo de gasto actual. <18 meses = riesgo de dilución urgente
- Cash burn anual — Ritmo al que queman caja operativa. Comparar con posición de caja para proyectar runway
- Total Debt — Biotech sin ingresos + deuda = receta para bancarrota
- I+D / Capitalización — Cuánto invierten en pipeline vs lo que vale la empresa — indicador de intensidad investigadora
- Market cap / Cash — Si cotiza cerca de su caja, el mercado le da ~0 valor al pipeline — puede ser oportunidad o trampa
Rentabilidad
| Rentabilidad sobre capital | -109.40% |
| Rentabilidad sobre capital invertido | -31.14% |
| Rentabilidad sobre activos | 43.52% |
| Margen bruto | 95.77% |
| Margen operativo | -189.53% |
| Margen neto | 324.88% |
Salud financiera
| Deuda / Patrimonio | -1.63 |
| Ratio corriente | 1.95 |
| Piotroski F-Score | 2 |
| Altman Z-Score | -3.20 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -6.01 | -16.61 | -4.27 | -6.52 | -5.93 | -3.59 | 4.91 | -1.74 | -3.66 | -326.00 |
| P/VC | -10.71 | -314.44 | 0.83 | -6.40 | -6.77 | 16.86 | 1.65 | -8.21 | -3.15 | -9.00 |
| P/V | 9.64 | 13.65 | 18.12 | 6.24 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Margen Bruto | 96.6% | 98.3% | 98.3% | 97.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Operativo | -130.4% | -67.7% | -375.7% | -56.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Neto | -160.4% | -82.5% | -424.4% | -75.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |