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Sep 30, 2021
Optinose Q3 2021 Earnings Report
Optinose's Q3 2021 financial results were reported, highlighting a 41% increase in XHANCE net revenue compared to Q3 2020 and a 25% increase in XHANCE prescriptions.
Key Takeaways
Optinose reported a 41% increase in XHANCE net revenue to $21.8 million for Q3 2021 compared to Q3 2020. The company completed enrollment in its second pivotal chronic sinusitis clinical trial and expects top-line results from the first trial in Q1 2022.
XHANCE net revenue for Q3 2021 increased by 41% compared to Q3 2020.
XHANCE prescriptions increased by 25% compared to Q3 2020.
Enrollment was completed in the second pivotal chronic sinusitis clinical trial.
Net loss for the quarter was $(17.1) million, or $(0.32) per share.
Optinose
Optinose
Forward Guidance
The Company expects XHANCE net revenue for the full year of 2021 to be in the range of $71 - $75 million and full year 2021 XHANCE net revenue per prescription to be greater than $210. The Company expects total GAAP operating expenses for 2021 to be in the range of $132 - $137 million.
Positive Outlook
- XHANCE net revenue for the full year of 2021 to be in the range of $71 - $75 million.
- Full year 2021 XHANCE net revenue per prescription to be greater than $210.
- Total GAAP operating expenses for 2021 to be in the range of $132 - $137 million.
- Stock-based compensation to be approximately $10 million.
- Top-line results from the first chronic sinusitis trial in the first quarter of 2022.
Challenges Ahead
- Previously the company expected XHANCE net revenue for the full year of 2021 to be at least $80 million.
- Previously the company expected full year 2021 XHANCE net revenue per prescription to be greater than $200.
- Previously the Company expected total GAAP operating expenses for 2021 to be in the range of $137 - $142 million.
- Further recruitment in OPN-019 trial is currently paused while specimen-handling and laboratory procedures in Mexico undergo further evaluation.
- Uncertainties and delays relating to the enrollment, completion, and results of clinical trials.