Optinose ( (OPTN) ) has released its Q3 earnings. Here is a breakdown of the information Optinose presented to its investors.
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Optinose is a pharmaceutical company that specializes in treatments for patients with ear, nose, and throat (ENT) and allergy conditions, particularly known for its Exhalation Delivery System (EDS) product, XHANCE, used for treating chronic rhinosinusitis.
In its third-quarter 2024 financial results, Optinose reported a 3% increase in net revenue from XHANCE sales, totaling $20.4 million compared to the same period last year. The company also noted a significant uptick in new prescriptions beginning in September, signaling potential growth in demand.
Key financial highlights from the quarter include a net income of $0.5 million, a notable improvement from the previous year’s loss, and an increase in the average net revenue per prescription to approximately $270. Despite these positive signs, Optinose has adjusted its full-year revenue guidance downward to a range of $75.0 to $79.0 million, while also reducing its operating expenses forecast to between $90.0 and $93.0 million.
Looking ahead, Optinose management maintains a cautiously optimistic outlook, emphasizing the observed growth in prescription demand and the company’s improved understanding of adoption drivers. These factors are expected to aid in achieving their long-term financial objectives.
