Omeros (NASDAQ:OMER)

G Protein Coupled Receptor cells in portfolio are potentially worth far more than current market value of the company. These are new intellectual properties that add to the value of the drugs in clinical trials. Can be volatile, but long term outlook is good.

2011 wasn't a very good year for the "repurposers", pharmas that utilize the strategy of suddenly discovering fascinating new powers of cheap off-patent ancient drugs. Among the roadkill are Zalicus, Rexahn, and Ampio. Omeros already suffered one failed phase III trial in March which halved their share price, but they're giving the same irrigation goop another go in trials for lens replacement surgery and arthroscopic mensicectomy.

Two phase III trials are in progress with data expected in Q1 and mid 2012. It doesn't appear like there's going to be much of an anticipatory upward run, so I'll drop my red thumb with the stock at the upper end of recent range.

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