Optinose Reports Third Quarter 2024 Financial Results and Recent Operational Highlights

Core Viewpoint - The company reported a 3% increase in net revenue for XHANCE in Q3 2024 compared to Q3 2023, with a positive trend in new prescriptions observed starting in September 2024 [1][4][2]. Financial Performance - Q3 2024 net revenue from XHANCE was $20.4 million, up from $19.8 million in Q3 2023 [4]. - For the nine-month period ended September 30, 2024, total net revenue was $55.8 million, reflecting a 9% increase from $51.1 million in the same period of 2023 [4]. - The company reported a net income of $0.5 million for Q3 2024, compared to a net loss of $9.3 million in Q3 2023 [6][12]. Prescription Trends - The four-week moving average of new prescriptions (NRx) increased to approximately 2,300 to 2,500 per week in October 2024, marking a 20% to 40% increase compared to the previous range of 1,760 to 1,960 [3][2]. Financial Guidance - The company revised its full-year 2024 net revenue guidance for XHANCE to between $75.0 million and $79.0 million, down from the previous estimate of $85.0 million to $90.0 million [1][6]. - The expected average net revenue per prescription for 2024 is now approximately $270, an increase from the previous expectation of exceeding $250 [7][8]. - Total GAAP operating expenses for 2024 are now expected to be between $90.0 million and $93.0 million, reduced from the earlier guidance of $95.0 million to $101.0 million [9]. Operational Highlights - The company will host a conference call to discuss financial results and corporate updates [10].