See Why Optinose Shares Plunged To 52-Week Low Today

See Why Optinose Shares Plunged To 52-Week Low Today
  • ENT and allergy-focused company Optinose Inc OPTN posted Q3 Xhance (fluticasone propionate) sales of $21.8 million, +41% Y/Y, missing the consensus of $23.48 million.
  • The Company held cash and cash equivalents of $84.2 million as of September 30, 2021.
  • Optinose reported Q3 EPS loss of $(0.32) down from $(0.43) posted a year ago, beating the consensus of $(0.36).
  • Overall, Xhance prescriptions increased by 25% to 86,300 in Q3, and new prescriptions increased by 22% to 27,900.
  • Pipeline Update: Optinose completed enrollment in both trials evaluating Xhance as a potential treatment for chronic sinusitis. 
  • It expects top-line results from the first trial, ReOpen1, in Q1 of 2022 and from the second, ReOpen2, in Q2 of 2022.
  • Guidance: The Company expects FY21 Xhance sales of $71 million - $75 million (consensus of $82.68 million), down from previously expected of at least $80 million.
  • Optinose Xhance net revenue per prescription to be over $210, down from over $200 expected earlier.
  • Separately, Optinose announced an underwritten public offering. Price and volume are yet to be determined.
  • Optinose will use the net proceeds for commercialization and add-on indication development of Xhance.
  • Price Action: OPTN shares are down 22.6% at $1.85 during the premarket session on the last check Tuesday.

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