Loading...
•
Sep 30, 2024
Optinose Q3 2024 Earnings Report
Optinose reported Q3 2024 financial results, with XHANCE net revenue increasing by 3% compared to Q3 2023 and a positive inflection in new prescriptions observed in September.
Key Takeaways
Optinose reported a 3% increase in XHANCE net revenue for Q3 2024, reaching $20.4 million. The company noted a positive inflection in new prescriptions starting in September. Financial guidance was updated, with full-year XHANCE net revenue expected to be between $75.0 and $79.0 million and operating expenses between $90.0 and $93.0 million.
XHANCE net revenue for Q3 2024 reached $20.4 million, a 3% increase compared to Q3 2023.
A positive inflection in new prescriptions of XHANCE was observed starting in September.
Full year 2024 XHANCE net revenue guidance was decreased to $75.0 - $79.0 million.
Full year 2024 operating expenses guidance was decreased to $90.0 - $93.0 million.
Optinose
Optinose
Forward Guidance
Optinose updated its financial guidance for the full year 2024, anticipating XHANCE net revenues between $75.0 and $79.0 million and average net revenue per prescription of approximately $270. Total GAAP operating expenses are expected to be between $90.0 and $93.0 million.
Positive Outlook
- XHANCE average net revenue per prescription is expected to be approximately $270.
- Total GAAP operating expenses are expected to be between $90.0 to $93.0 million.
- Company expects stock-based compensation to be approximately $6.0 million.
- Company believes the recent accelerating trend in new prescription demand reinforces the magnitude of the longer-term opportunity.
- Company's experience in the initial phases of the launch has improved its understanding of the key drivers of adoption.
Challenges Ahead
- XHANCE net revenues for the full year of 2024 to be between $75.0 to $79.0 million.
- Company believes that it is probable that it will not maintain compliance with certain financial covenants.
- Company's unaudited financial statements for the three and nine months ended September 30, 2024 will state that there is substantial doubt about the Company's ability to continue as a going concern.
- Physician and patient acceptance of XHANCE for its new indication
- The risk that the positive inflection in new XHANCE prescriptions starting in September does not continue and grow