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Jun 30, 2022
Optinose Q2 2022 Earnings Report
Reported an increase in XHANCE net revenue and announced positive topline results from ReOpen2.
Key Takeaways
Optinose reported a 12% increase in XHANCE net revenue for Q2 2022 compared to Q2 2021 and announced positive topline results from the ReOpen2 clinical trial, supporting a potential new indication for XHANCE as a treatment for chronic sinusitis. The company plans to submit an sNDA for XHANCE as a treatment for chronic sinusitis by the end of 2022.
XHANCE net revenue increased by 12% compared to Q2 2021.
ReOpen2 clinical trial met both of its co-primary endpoints, demonstrating statistically significant improvement in patients with chronic sinusitis treated with XHANCE.
The company plans to submit an sNDA for XHANCE as a treatment for chronic sinusitis by the end of 2022.
Full year 2022 XHANCE net revenue is expected to be between $85 to $92 million.
Optinose
Optinose
Forward Guidance
Optinose expects XHANCE net revenues for the full year of 2022 to be between $85 - $92 million and total GAAP operating expenses for 2022 to be in the range of $129 - $134 million.
Positive Outlook
- Potential for continued XHANCE prescription and net revenue growth
- Potential impact of filling vacant sales territories on XHANCE prescriptions
- Impact of fall seasonality on XHANCE prescriptions
- Impact of new clinical data showing a reduction in acute exacerbations in nasal polyp patients with XHANCE use on prescriptions
- Potential benefits of XHANCE for the treatment of chronic sinusitis
Challenges Ahead
- Impact of, and uncertainties caused by the COVID-19 pandemic
- Physician and patient acceptance of XHANCE for its current and any potential future indication
- Company’s ability to maintain adequate third-party reimbursement for XHANCE (market access)
- Market opportunities for XHANCE may be smaller than expected
- Company’s ability to grow XHANCE prescriptions and net revenues