OptiNose(US:OPTN)2024-05-14 11:08Financial Performance - XHANCE net revenue for Q1 2024 was $14.9 million, a 26% increase from $11.8 million in Q1 2023[2] - The company reported a net loss of $14.1 million for Q1 2024, or $0.12 per share[11] - Research and development expenses for Q1 2024 were $1.2 million, while selling, general and administrative expenses were $20.5 million[11] - The company expects full year 2024 XHANCE net revenues to be between $85.0 million and $95.0 million[13] - The company expects to achieve positive income from operations (GAAP) for the full year 2025[16] Revenue Projections - The anticipated peak year net revenues for XHANCE are projected to be at least $300 million from the current specialist prescriber audience[4] - XHANCE average net revenue per prescription for 2024 is expected to exceed $230, up from a previous estimate of approximately $220[14] Cash Position - The company completed a registered direct offering expected to result in approximately $55 million of net proceeds, with post-offering cash and cash equivalents projected to be around $100 million[9] - The company had cash and cash equivalents of $51.6 million as of March 31, 2024, not including the expected proceeds from the recent offering[12] Market Expansion - The FDA approved XHANCE as the first prescription medication for chronic rhinosinusitis without nasal polyps in March 2024, significantly expanding the addressable market[4]