2020-11-05 07:31:22 OPTN Optinose
11/05/20 11/0507:31 11/05/2007:31 | Optinose reports Q3 EPS (43c), consensus (52c)Reports Q3 revenue $15.4M, consensus $14.28M. "New and total prescriptions for XHANCE reached an all-time quarterly high in the third quarter of 2020. We are pleased with this achievement after experiencing a challenging environment in the second quarter 2020 due to significant pandemic-related declines in patient volume in ENT and Allergy offices," stated CEO Peter Miller. "As a result of increased demand and improvement in net revenue per prescription, XHANCE net revenues were $15.4 million. By exceeding the third quarter 2020 net revenue threshold specified in our debt facility, we open up the option to draw an additional $20 million to add to our cash position, which would extend our cash runway and further enable us to focus on growth. Finally, we are excited by recent events that we believe meaningfully support XHANCE growth potential as we progress into 2021. These include both our co-promotion with kaleo, which first hit the field in October and grows our sales reach and frequency, and the new publication by Brent Senior, M.D., Professor of Otolaryngology and Vice Chair of Academics and Outreach at the University of North Carolina, and others that describes the value of XHANCE in the population of patients who are still symptomatic on conventional nasal steroids." |
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