Optinose Q1 XHANCE revenue $14.9M (+26% YoY); FDA approval for chronic sinusitis; guides FY24 rev $85-95M

OptiNose, Inc.

2024-Q1 EPS reported -$0.12 revenue$14,880,000

Q1 net revenue $14.9M (+26% YoY); net loss $14.1M ($0.12/shr) vs $18.8M ($0.17) prior year.
FDA approved XHANCE for chronic rhinosinusitis without nasal polyps on Mar 15, 2024 (first Rx treatment).
FY24 guidance: XHANCE net rev $85-95M; avg rev per Rx >$230 (prev ~$220); GAAP op ex $95-101M.
Expects positive GAAP income from operations for full year 2025.
Completed $55M registered direct offering May 10; pro forma cash ~$100M sufficient through 2025.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

OptiNose, Inc. reported quarter ended March 31, 2024 results: revenue $14.9 million, net income $14.1 million, EPS $0.12 per share. Guidance raised.

Period: quarter ended March 31, 2024
Revenue: $14.9 million
Net income: $14.1 million
EPS: $0.12 per share
Guidance: raised
Result: reported results

Exact text from the filing

First Quarter 2024 Financial Results Total revenues The Company reported $14.9 million in net revenue from sales of XHANCE during the three-month period ended March 31, 2024, an increase of 26% compared to $11.8 million during the three-month period ended March 31, 2023. Costs and expenses and net loss For the three-month period ended March 31, 2024, research and development expenses were $1.2 million and selling, general and administrative expenses were $20.5 million. The net loss for the period was $14.1 million, or $0.12 per share (basic and diluted).

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Source: SEC EDGAR

accession 0001494650-24-000068

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