Optinose Reports Fourth Quarter and Full Year 2024 Financial Results and Recent Operational Highlights
Rhea-AI Summary
Optinose (NASDAQ:OPTN) reported strong financial results for Q4 and full year 2024. XHANCE net revenue reached $22.4 million in Q4 2024 (up 13% YoY) and $78.2 million for full year 2024 (up 10% YoY).
The company experienced significant prescription growth, with Total Prescriptions (TRx) increasing 23% from Q3 to Q4 2024 (63,900 to 78,500) and New Prescriptions (NRx) rising 12% (25,600 to 28,700).
Notable achievements include the company's first-ever quarterly operating income of $0.4 million in Q4 2024. Operating expenses (SG&A plus R&D) totaled $87.3 million for 2024, up from $85.1 million in 2023. The company reported a net loss of $0.4 million ($0.04 per share) for Q4 and $21.5 million ($2.12 per share) for full year 2024. Cash position remained strong at $84.5 million as of December 31, 2024.
Positive
- First-ever quarterly operating income achieved in Q4 2024 ($0.4M)
- XHANCE revenue growth of 13% YoY in Q4 2024
- Strong 23% QoQ growth in total prescriptions
- Robust cash position of $84.5M
- 10% annual revenue growth for full year 2024
Negative
- Full year net loss of $21.5M in 2024
- Operating expenses increased by $2.2M year-over-year
- Q4 still resulted in net loss despite operating income
News Market Reaction 1 Alert
On the day this news was published, OPTN declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Company reports fourth quarter and full year 2024 XHANCE net revenue of
Company reports
YARDLEY, Pa., March 26, 2025 (GLOBE NEWSWIRE) -- Optinose (NASDAQ:OPTN), a pharmaceutical company focused on patients treated by ear, nose and throat (ENT) and allergy specialists, today reported financial results for the quarter and year ended December 31, 2024, and provided recent operational highlights.
Fourth Quarter 2024 and Recent Highlights
New Prescriptions (NRx) and Total Prescriptions (TRx)
An inflection in prescription demand first observed in September 2024 NRx continued in fourth quarter 2024 and extended to TRx. NRx increased
Fourth Quarter 2024 Financial Results
Revenues
The Company reported
Costs and expenses and net loss
For the three-month and twelve-month periods ended December 31, 2024, research and development expenses were
Income from operations was for the three-month period ended December 31, 2024, was
The net loss for the three-month period ended December 31, 2024 was
Balance Sheet
The Company had cash and cash equivalents of
| OptiNose, Inc. | ||||||||||||||||
| Condensed Consolidated Statement of Operations | ||||||||||||||||
| (in thousands, except share and per share data) | ||||||||||||||||
| (Unaudited) | ||||||||||||||||
| Three Months Ended | Year Ended | |||||||||||||||
| December 31, | December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Revenues: | ||||||||||||||||
| Net product revenues | $ | 22,418 | $ | 19,865 | $ | 78,226 | $ | 70,987 | ||||||||
| Total revenues | 22,418 | 19,865 | 78,226 | 70,987 | ||||||||||||
| Costs and expenses: | ||||||||||||||||
| Cost of product sales | $ | 1,954 | $ | 2,131 | $ | 7,231 | $ | 8,633 | ||||||||
| Research and development | 772 | 1,286 | 3,855 | 5,303 | ||||||||||||
| Selling, general and administrative | 19,338 | 18,960 | 83,459 | 79,799 | ||||||||||||
| Total costs and expenses | 22,064 | 22,377 | 94,545 | 93,735 | ||||||||||||
| Income (loss) from operations | 354 | (2,512 | ) | (16,319 | ) | (22,748 | ) | |||||||||
| Other (income) expense | 714 | 7,455 | 5,222 | 12,735 | ||||||||||||
| Net (loss) | $ | (360 | ) | $ | (9,967 | ) | $ | (21,541 | ) | $ | (35,483 | ) | ||||
| Net loss per share of common stock, basic and diluted | $ | (0.03 | ) | $ | (1.33 | ) | $ | (2.12 | ) | $ | (4.75 | ) | ||||
| Weighted average common shares outstanding, basic and diluted | 11,635,909 | 7,487,465 | 10,156,745 | 7,472,035 | ||||||||||||
| OptiNose, Inc. | ||||||||
| Condensed Consolidated Balance Sheet Data | ||||||||
| (in thousands) | ||||||||
| December 31 | December 31, | |||||||
| 2024 | 2023 | |||||||
| Cash and cash equivalents | $ | 84,485 | $ | 73,684 | ||||
| Other assets | 44,300 | 34,045 | ||||||
| Total assets | $ | 128,785 | $ | 107,729 | ||||
| Total current liabilities (1) | $ | 162,813 | $ | 176,524 | ||||
| Other liabilities | 6,332 | 17,811 | ||||||
| Total stockholders' deficit | (40,360 | ) | (86,606 | ) | ||||
| Total liabilities and stockholders' deficit | $ | 128,785 | $ | 107,729 | ||||
| (1) – All outstanding principal and fees payable upon maturity have been classified as a current liability in accordance with Generally Accepted Accounting Principles ("GAAP") because, as of the date hereof, the Company believes that it is probable that it will not maintain compliance with certain financial covenants contained in its Amended and Restated Note Purchase Agreement for at least the next 12-months. As a result, the Company's audited financial statements for the year ended December 31, 2024 (“2024 Audited Financial Statements”) will state that there is substantial doubt about the Company's ability to continue as a going concern (i.e., a "going concern" paragraph). Please refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 (including the 2024 Audited Financial Statements) which will be filed after the issuance of this press release for additional information. | ||||||||
About Optinose
Optinose is a specialty pharmaceutical company focused on serving the needs of patients cared for by ear, nose and throat (ENT) and allergy specialists. To learn more, please visit www.optinose.com or follow us on Twitter and LinkedIn.
About XHANCE
XHANCE is a drug-device combination product that uses the Exhalation Delivery System™ (also referred to as the EDS®) designed to deliver a topical steroid to the high and deep regions of the nasal cavity where sinuses ventilate and drain. XHANCE is approved by the U.S. Food and Drug Administration for both the treatment of chronic rhinosinusitis without nasal polyps (also called chronic sinusitis) and chronic rhinosinusitis with nasal polyps (also called nasal polyps) in patients 18 years of age or older.
IMPORTANT SAFETY INFORMATION
CONTRAINDICATIONS: Hypersensitivity to any ingredient in XHANCE.
WARNINGS AND PRECAUTIONS:
- Local nasal adverse reactions, including epistaxis, erosion, ulceration, septal perforation, Candida albicans infection, and impaired wound healing, can occur. Monitor patients periodically for signs of possible changes on the nasal mucosa. Avoid use in patients with recent nasal ulcerations, nasal surgery, or nasal trauma until healing has occurred.
- Glaucoma and cataracts may occur with long-term use. Consider referral to an ophthalmologist in patients who develop ocular symptoms or use XHANCE long-term.
- Hypersensitivity reactions (e.g., anaphylaxis, angioedema, urticaria, contact dermatitis, rash, hypotension, and bronchospasm) have been reported after administration of fluticasone propionate. Discontinue XHANCE if such reactions occur.
- Immunosuppression and infections can occur, including potential increased susceptibility to or worsening of infections (e.g., existing tuberculosis; fungal, bacterial, viral, or parasitic infection; ocular herpes simplex). Use with caution in patients with these infections. More serious or even fatal course of chickenpox or measles can occur in susceptible patients.
- Hypercorticism and adrenal suppression may occur with very high dosages or at the regular dosage in susceptible individuals. If such changes occur, discontinue XHANCE slowly.
- Assess for decrease in bone mineral density initially and periodically thereafter.
ADVERSE REACTIONS:
- Chronic rhinosinusitis without nasal polyps: The most common adverse reactions (incidence ≥
3% ) are epistaxis, headache, and nasopharyngitis. - Chronic rhinosinusitis with nasal polyps: The most common adverse reactions (incidence ≥
3% ) are epistaxis, nasal septal ulceration, nasopharyngitis, nasal mucosal erythema, nasal mucosal ulcerations, nasal congestion, acute sinusitis, nasal septal erythema, headache, and pharyngitis.
DRUG INTERACTIONS: Strong cytochrome P450 3A4 inhibitors (e.g., ritonavir, ketoconazole): Use not recommended. May increase risk of systemic corticosteroid effects.
USE IN SPECIFIC POPULATIONS: Hepatic impairment. Monitor patients for signs of increased drug exposure.
Please see full Prescribing Information, including Instructions for Use
Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements that are not historical facts are hereby identified as forward-looking statements for this purpose and include, among others, statements relating to the potential benefits of XHANCE; the potential benefits of the Exhalation Delivery System; the Company's belief that it is probable that it will not maintain compliance with certain financial covenants contained in its Amended and Restated Note Purchase Agreement for at least the next 12-months and the consequences thereof; and other statements regarding the Company's future operations, financial performance, financial position, prospects, objectives, strategies and other future events. Forward-looking statements are based upon management’s current expectations and assumptions and are subject to a number of risks, uncertainties and other factors that could cause actual results and events to differ materially and adversely from those indicated by such forward-looking statements including, among others: physician and patient acceptance of XHANCE for its new indication; the Company’s ability to maintain adequate third-party reimbursement for XHANCE (including its new indication); the prevalence of chronic sinusitis and market opportunities for XHANCE may be smaller than expected; the Company’s ability to efficiently generate XHANCE prescriptions and net revenues; unanticipated costs and expenses; the risk that the positive inflection in new XHANCE prescriptions starting in September does not continue and grow; the Company’s ability to comply with the covenants and other terms of its Amended and Restated Note Purchase Agreement; the Company’s ability to continue as a going concern; risks and uncertainties relating to intellectual property and competitive products; and the risks, uncertainties and other factors discussed under the caption "Item 1A. Risk Factors" and elsewhere in the Company’s most recent Form 10-K and Form 10-Q filings with the Securities and Exchange Commission – which are available at www.sec.gov. As a result, you are cautioned not to place undue reliance on any forward-looking statements. Any forward-looking statements made in this press release speak only as of the date of this press release, and the Company undertakes no obligation to update such forward-looking statements, whether as a result of new information, future developments or otherwise.
Optinose Investor Contact
Jonathan Neely
jonathan.neely@optinose.com
267.521.0531
FAQ
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