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Omeros (NASDAQ:OMER) shares dropped 6% during mid-day trading on Tuesday following a dissappointing earnings announcement, StockRatingsNetwork reports. The company traded as low as $12.63 and last traded at $13.10, with a volume of 386,351 shares trading hands. The stock had previously closed at $13.94.

The company reported ($0.53) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.46) by $0.07. The company had revenue of $0.45 million for the quarter, compared to the consensus estimate of $0.37 million. During the same quarter last year, the company posted ($0.48) earnings per share. Omeros’s revenue was up 221.4% compared to the same quarter last year.

The stock has a 50-day moving average of $14.94 and a 200-day moving average of $12.95. The company’s market cap is $428.0 million.

Omeros Corporation operates as a biopharmaceutical company focused on the discovery, development and commercialization of products focused on inflammation and disorders of the central nervous system.

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