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Dec 31, 2019
Optinose Q4 2019 Earnings Report
Optinose reported Q4 2019 financial results, with XHANCE net revenue of $11.1 million and a 26% increase in XHANCE prescriptions compared to Q3 2019.
Key Takeaways
Optinose reported Q4 2019 XHANCE net revenue of $11.1 million, with a 26% increase in XHANCE prescriptions compared to the previous quarter. The company's cash and cash equivalents were $147.1 million as of December 31, 2019.
XHANCE net revenue was $11.1 million for Q4 2019.
XHANCE prescriptions increased 26% from Q3 2019 and 285% from Q4 2018.
Refill prescriptions increased significantly from 5,300 in Q4 2018 to 33,000 in Q4 2019.
Cash and cash equivalents totaled $147.1 million as of December 31, 2019.
Optinose
Optinose
Forward Guidance
Optinose expects XHANCE net revenue for full year 2020 to more than double compared to full year 2019. The company expects total GAAP operating expenses for 2020 to be in the range of $148 - $153 million.
Positive Outlook
- XHANCE net revenues for the full year of 2020 to more than double compared to the full year 2019.
- XHANCE average net revenue per prescription to improve substantially for the remainder of 2020.
- Company expects top-line results from both clinical trials evaluating XHANCE as a potential treatment for Chronic Sinusitis in the second half of 2021.
Challenges Ahead
- First quarter 2020 XHANCE net revenue will decrease compared to fourth quarter 2019.
- XHANCE average net revenue per prescription for the first quarter of 2020 will be between $120 and $140, due to typical early-year effects on price and volume related to patient insurance.