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Dec 31, 2020
Optinose Q4 2020 Earnings Report
Optinose reported Q4 2020 financial results with XHANCE net revenue of $15.6 million.
Key Takeaways
Optinose reported a net revenue of $15.6 million for XHANCE in Q4 2020, with a total revenue of $16.4 million. The company's net loss for the quarter was $23.9 million, or $0.46 per share. They ended the year with $144.2 million in cash and cash equivalents.
XHANCE prescriptions increased by 36% to 73,900 in Q4 2020.
New prescriptions for XHANCE increased by 16% to 24,600 in Q4 2020.
Total revenues for Q4 2020 were $16.4 million, including $15.6 million from XHANCE net revenue and $0.8 million from licensing revenue.
The company expects XHANCE net revenue for 2021 to be at least $80 million.
Optinose
Optinose
Forward Guidance
Optinose expects XHANCE net revenue for 2021 to be at least $80 million. They anticipate top-line results from one of their clinical trials evaluating XHANCE as a potential treatment for Chronic Sinusitis by the end of 2021.
Positive Outlook
- Expects XHANCE net revenue for 2021 to be at least $80 million
- Expects full year 2021 XHANCE net revenue per prescription to increase compared to full year 2020
- Expects to initiate a randomized, proof of concept study in subjects who have tested positive for SARS-CoV-2 infection in April 2021
- Expects top-line results from OPN-019 study in second quarter 2021
- Expects top-line results from one of its clinical trials evaluating XHANCE as a potential treatment for Chronic Sinusitis by the end of 2021
Challenges Ahead
- Expects first quarter 2021 XHANCE net revenue will decrease compared to fourth quarter 2020
- Expects XHANCE average net revenue per prescription for the first quarter of 2021 will be between $120 and $140
- Pauses in patient enrollment, due to the COVID-19 pandemic, at some clinical trial sites changed the Company's prior expectation of top-line results from both trials in the second half of 2021
- Uncertainties and delays relating to the enrollment, completion, and results of clinical trials
- Impact of, and uncertainties caused by the COVID-19 pandemic