The review of Omrix was a requested by a reader. If you would like me to review a relatively new biotech stock, you can e-mail me at hotmail.com with the username biologyfool before the at sign. If you include the info on this page in the e-mail, your chance of the stock getting reviewed will go up exponentially since it’s a big pain in the butt to copy and paste this information; I do it because it gives us a place to begin and those that read the review later, a place to catch up.

I’m really looking forward to this review since they’ve actually got products. A P/E is so novel for this blog.

Basic Info

Stock symbol:OMRI
Website:http://www.omrix.com/
IPO date: 4/21/06 with a second offering 12/15/06
Total shares outstanding: 14.9 million including 3.9 million from the IPO and 1.7 from the second offering
Market Cap: $638 million as of 4/23/07
Other reviews:There’s quite a few here.

Drugs/Platforms

Drugs currently approved:

Evicel a fibrin sealant used as an adjunct to hemostasis in liver surgery in US
Quixil a fibrin sealant used as a general adjunct to hemostasis in Europe, Israel and several other countries.
IVIG an antibody product for treating immune deficiency and autoimmune diseases approved in Israel.
VIG an antibody based product for treating smallpox vaccination related complications.
HBIG antibodies against hepatitus B to prevent reinfection after liver transplant.

Drugs in trials:

Increasing Evicel’s indication label to include general surgical use in the US and Europe has completed phase 3 clinical trials and expecting FDA approval decision in the second half of this year and EU approval submission in the second quarter of this year.
Fibrin Patch being developed with Ethicon, a Johnson & Johnson company, for use in the Emergency room and surgery for stopping severe bleeding. Phase 1 trials have just begun.
Thrombin is a stand alone adjunct to hemostasis for general sergical use, primarily neurosurgery in phase 3 clinical trials, which is also being developed with Ethicon. Approval is expected in the second half of this year.
Aeris for lung volume reduction is in phase 2 trials.
IVIG is in combined phase 1, 2, and 3 trials for approval in the US
WNIG an antibody product for treating West Nile Virus is in combined phase 1/2 trials.

Drugs in development:

HT-VIG a high concentration form of VIG hasn’t started clinical trials, but presumably it would be a combined study since VIG is already approved.

Financials

Income: $23 million for 2006
Cash on hand: $81 million (as of the end of 2006) including $34.1 million from the IPO and $51.4 million
Burn Rate: None; remember their earning money! R&D was $3.3 million in 2006

Filed under: Omrix Biopharmaceuticals (OMRI)