Market

Omeros fires back after an online short attack whittles down its shares

These days, a popular tweet — even an anonymous one — can drive a stock up or down in a matter of minutes. For Omeros $OMER, the fallout from a digital dust-up caused a painful 20%-plus bite out of its stock price, after “Art Doyle Research” posted a report online accusing the company of lying, cheating and all kinds of chicanery.

This morning, Omeros fired back at “Art Doyle,” claiming that the report was the work of anonymous short sellers who had found a handy and illicit weapon to use in an attack.

In a statement out this morning, the biotech noted:

This report is replete with falsehoods, misleading statements and incorrect analyses and conclusions. “Art Doyle” states that it stands to profit in the event that Omeros’ share price declines. The report is actionable and the company is pursuing legal remedies. Omeros intends to hold all responsible parties accountable.

This morning Omeros stock had bounced back 4% on the counterattack, but it’s still lower than it ended yesterday, down 10%.


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