Clinical-stage biopharmaceutical company Omeros has reported encouraging data from the single ascending dose (SAD) study portion of its Phase I trial of cognitive disorder drug OMS824.

OMS824 inhibits the enzyme PDE10 and is being developed for the treatment of cognitive disorders, including schizophrenia.

Omeros chairman and CEO Dr Gregory Demopulos said the company intends to complete the Phase I trial and commence studies in schizophrenia patients.

"While preparing for the next set of OMS824 studies, our pipeline continues to advance toward additional near-term milestones – Phase III data for OMS103HP this month, an NDA submission next quarter and, for as many as three additional programs, entry into the clinic in 2013," Demopulos said.

OMS824 was well-tolerated in the SAD study in which expected pharmacological effects were established in healthy subjects.

The study demonstrated linear pharmacokinetics, a long half-life consistent with once-daily dosing and good systemic exposure.

The company has advanced OMS824 into next stage of the Phase I trial to evaluate the multiple-dose administration of the compound.

Complete data from the study is expected in 2013.