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Jun 30, 2023
Optinose Q2 2023 Earnings Report
Reported XHANCE net revenue of $19.5 million and increased full year 2023 XHANCE net revenue guidance.
Key Takeaways
Optinose reported Q2 2023 financial results, featuring $19.5 million in net revenue from XHANCE sales. The company has increased its full-year revenue guidance for XHANCE and is progressing towards potential FDA approval for chronic rhinosinusitis treatment.
XHANCE net revenue for Q2 2023 was $19.5 million, a 5% decrease compared to Q2 2022.
The FDA accepted the sNDA for XHANCE for chronic rhinosinusitis, with a target goal date of December 16, 2023.
SG&A and R&D expenses decreased by 33% in the first half of 2023 compared to the first half of 2022.
The company had cash and cash equivalents of $71.3 million as of June 30, 2023.
Forward Guidance
Optinose expects XHANCE net revenues for the full year of 2023 to be between $64.0 to $70.0 million and average net revenue per prescription to be approximately $200. Total GAAP operating expenses are expected to be in the range of $88.0 to $93.0 million.
Positive Outlook
- Full year 2023 XHANCE net revenues are expected to be between $64.0 to $70.0 million.
- Full year 2023 XHANCE average net revenue per prescription to be approximately $200.
- Total GAAP operating expenses for 2023 to be in the range of $88.0 to $93.0 million.
- Stock-based compensation for 2023 is expected to be approximately $6.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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