YARDLEY, Pa. - Optinose (NASDAQ:OPTN), a pharmaceutical company specializing in treatments for ear, nose, and throat (ENT) and allergy care, announced today a preliminary unaudited net product revenue of $22.4 million for XHANCE (fluticasone propionate) for the fourth quarter ending December 31, 2024. The company, currently trading near its 52-week low of $4.81, maintains impressive gross profit margins of 90.21% according to InvestingPro data. This figure aligns with the company's previous guidance and reflects a continued increase in XHANCE prescriptions during the quarter.
According to CEO Ramy Mahmoud, the company experienced an estimated 20% sequential growth in prescriptions from the third to the fourth quarter of 2024. Mahmoud expressed optimism about the company's commercial performance and anticipates ongoing growth through 2025. However, InvestingPro data shows the company faces financial challenges with a net loss of $31.15 million in the last twelve months. Optinose plans to release comprehensive financial results and corporate updates in March.
The reported revenue and prescription growth rates are preliminary and subject to change upon completion of the company's financial closing procedures and potential adjustments following a review or audit by independent accountants. The company cautions against relying heavily on these preliminary figures until the final results are published.
Optinose, dedicated to serving patients through ENT and allergy specialists, is expected to provide more details on its financial standing and corporate developments later in the year.
The preliminary financial data shared in this announcement has not been audited or reviewed by Optinose's independent registered public accounting firm. As such, these early figures may be revised when the company finalizes its financial outcomes for the fourth quarter of 2024. The company has highlighted the possibility of adjustments that could materially affect the reported results.
Investors and stakeholders are advised that the information is based on a press release statement and to await the finalized financial results for a complete and accurate picture of the company's performance in the last quarter of 2024. For deeper insights into Optinose's financial health and future prospects, InvestingPro subscribers can access the comprehensive Pro Research Report, which includes detailed analysis of the company's financial metrics, market position, and growth potential among 1,400+ top stocks.
In other recent news, OptiNose , a specialty pharmaceutical company, has implemented a 1-for-15 reverse stock split, reducing its outstanding common shares from approximately 150.8 million to about 10.1 million. This strategic action aims to comply with Nasdaq's minimum bid price requirement. Following the company's recent earnings report, which showed earnings per share of $0.00 and revenue of $20.4 million, Piper Sandler adjusted its price target for OptiNose from $3 to $1, while maintaining an Overweight rating.
In light of these financial results, OptiNose revised its 2024 sales forecast for Xhance, its nasal spray treatment, to a range of $75 million to $79 million. Despite this adjustment, the company reported a 3% year-over-year increase in Q3 2024 net revenue for Xhance, reaching $20.4 million.
H.C. Wainwright analysts have also adjusted their price target on OptiNose shares to $18.00, up from the previous $5.00, while maintaining a Buy rating. This revision reflects the company's strategic move to meet Nasdaq's $1.00 minimum bid price rule via the reverse stock split. These developments are part of OptiNose's ongoing commitment to its product Xhance and reflect recent changes in the company's financial position.
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