It’s remarkable to watch Omeros CEO Greg Demopulos and his executive team dissolve into a pool of obfuscation and incompetence when the truth finally arrives.
The company said Monday that the Food and Drug Administration rejected its drug called narsoplimab meant to treat patients with a rare but often-deadly complication of bone marrow transplants. The denial finally revealed what many Omeros critics — myself, included — have known for years. The clinical development of narsoplimab was built on shaky, often nonsensical clinical data and a mountain of misleading statements about FDA agreements.
Demopulos is the worst kind of biotech CEO. He’s a person who seems to think it’s OK to provide investors with almost zero transparency into his publicly traded company’s operations; grossly exaggerates the claims he does make; and then offers lame excuses for why the drug hasn’t yet been approved.
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