The dose-ranging study will enroll healthy subjects and the clinical data are anticipated by the end of 2012.
Omeros chairman and chief executive officer Gregory Demopulos said OMS824 is the company’s first compound developed entirely in house, in humans.
"Our PDE10 program represents our fourth active clinical program, and the two in Phase 3 trials are poised to read out data this quarter," Demopulos added.
"We are also continuing to advance our preclinical pipeline, and currently three more programs are slated to enter the clinic in 2013."
OMS824 is designed to inhibit PDE10, an enzyme that is expressed in regions of brain connected with diseases such as schizophrenia and Huntington’s disease with potential to affect cognition.