OMER is a biotech with FDA-approved drug Yartemlea (TA-TMA treatment) that exceeded sales expectations in Q1 2026 ($9.9M vs $4.19M estimated) and a $2.1B partnership deal with Novo for pipeline drug Zaltenibart; author believes current $870M market cap undervalues the company and projects $30/share by end of summer 2026. Key risks include execution on EMA approval timeline, competitive threats, and biotech development uncertainty.