Note 5 - Certain Balance Sheet Accounts

3 Months Ended

Mar. 31, 2026

Supplemental Balance Sheet Disclosures [Text Block]

Note 5 — Certain Balance Sheet Accounts

OMIDRIA Contract Royalty Asset

The OMIDRIA contract royalty asset consists of the following:

	March 31,		December 31,
	2026		2025
	(In thousands)
Short-term contract royalty asset	$	25,477	$	25,351
Long-term contract royalty asset		93,717		96,435
Total OMIDRIA contract royalty asset	$	119,194	$	121,786

See “Note 7 — Discontinued Operations – Sale of OMIDRIA” for discussion regarding the estimated fair value of our OMIDRIA contract royalty asset.

OMIDRIA Royalty Obligation

The OMIDRIA contract royalty obligation consists of the following:

	March 31,		December 31,
	2026		2025
	(In thousands)
Short-term OMIDRIA royalty obligation	$	19,856	$	20,547
Long-term OMIDRIA royalty obligation		141,930		147,319
Total OMIDRIA royalty obligation	$	161,786	$	167,866

See “Note 8 — OMIDRIA Royalty Obligation” for further details.

Receivables

Receivables consist of the following:

	March 31,		December 31,
	2026		2025
	(In thousands)
Trade receivables, net	$	6,746	$	—
OMIDRIA royalty receivables		5,104		6,443
Novo Nordisk receivable		90		3,724
Other receivables		92		750
Total receivables	$	12,032	$	10,917

Trade receivables represents sales of YARTEMLEA to wholesalers and include reductions for estimated chargebacks. OMIDRIA royalty receivables represent approximately two months of royalty earnings from Rayner. All U.S. royalties received from Rayner are remitted by Rayner to an escrow account, established by Omeros, from which payments are made on our behalf to DRI. These payments are entirely pass-through in nature to the Company with DRI as the recipient.

Property and Equipment, Net

Property and equipment, net consists of the following:

	March 31,			December 31,
	2026			2025
	(In thousands)
Equipment under finance lease obligations	$	8,323		$	8,323
Laboratory equipment		3,744			3,744
Computer equipment		1,113			1,113
Office equipment and furniture		624			624
Total cost		13,804			13,804
Less accumulated depreciation and amortization		(12,275	)		(12,036	)
Total property and equipment, net	$	1,529		$	1,768

For the three months ended March 31, 2026 and 2025, depreciation and amortization expense was $0.2 million and $0.3 million, respectively.

Accrued Expenses

Accrued expenses consist of the following:

	March 31,		December 31,
	2026		2025
	(In thousands)
Employee compensation	$	9,741	$	10,348
Clinical trials		6,379		6,248
Contract research and development		2,900		5,773
Deferred income		2,819		2,473
Consulting and professional fees		2,243		2,406
Income taxes payable		1,146		1,146
Interest payable		1,961		616
Other accrued expenses		617		378
Total accrued expenses	$	27,806	$	29,388

Deferred income as of March 31, 2026 and December 31, 2025 primarily related to billings to Novo Nordisk under the Transition Services Agreement.

OMEROS CORP 10-Q