AZN's Ultomiris fails in clinical trial; Omeros (OMER) surges on reflected gains

OMER +1.56% PEP -0.19% NUE +4.58% CINF +0.12% CNP -0.11% 13 more

1. 1AstraZeneca's (AZN) Ultomiris failed to meet the primary endpoint of 26-week event-free survival in a Phase 3 trial for adult and adolescent TA-TMA
2. 2The drug showed no statistically significant improvement versus placebo, but a treatment-effect trend was observed; the company will continue discussions with regulators on the adult indication and pursue a separate Phase 3 filing for the pediatric indication based on significant improvement
3. 3H.C. Wainwright called the failure a "clear positive" for Omeros (OMER), which holds competing drug Yselty, as it removes a near-term competitive threat, reaffirming a Buy rating; OMER shares jumped roughly 12% intraday

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