Omeros Received a Letter from the FDA and Zillow Suspended One of Their Programs 🏡

Table of Contents

Omeros Received a Letter from the FDA and Zillow Suspended One of Their Programs

Omeros

Omeros is a healthcare company located in Seattle, Washington, and they discover and develop therapies for nervous system disorders, making them a biotechnology company. They have a market cap of $354.35 million, making them a very small company.

On Monday, Omeros received a letter from the FDA regarding their drug Narsoplimab, which is meant to be used during eye surgery. The FDA announced that they found some deficiencies with the drug that could affect its labelling requirement, so they are making Omeros run another clinical trial for the therapy. This is a red flag because Omeros is relying on the sale of this drug for their future, so any roadblock could scare investors, and that happened as Omeros closed the day at $5.67, down 26.65%.

Zillow

Zillow is a real estate company that is also located in the heart of Seattle, Washington, but they work in digital real estate. You’ve likely visited their website to check out houses, and the fact that they are a well-known company justifies their $21.782 billion market cap.

Zillow reported some concerning news on Monday. They have now shut down their iBuying program where they buy and flip new houses to customers for the rest of the year, which is a unique part of their business. The reasoning behind this was the national labor shortage that is ongoing in the United States as there aren’t enough people to renovate homes and work on-the-ground. The rest of the year is just a couple of months, but the labor shortage could continue which would cause more delays for the program. For this reason, Zillow stock fell to $85.46, down 9.37%.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:
More Posts
The Crude Oil Bust 🛢
28 September, 2023

Surging global crude oil prices, driven by factors like OPEC+ production cuts have pushed U.S. West Texas Intermediate futures to over $95 per barrel.
Metaverse Returns 🤖
28 September, 2023

Meta, led by CEO Mark Zuckerberg, is intensifying its commitment to innovation in the Metaverse through the introduction of the Quest 3 VR headset.
Higher Rate Households 📈
27 September, 2023

The recent Fed decision to pause rates has left the federal funds rate at its highest level since 2000.

Load More
Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Facebook Twitter Youtube Instagram Snapchat Tiktok
learn
products
plan
Who we are
blog

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community. The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results. Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such. Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.