Apr 25, 2024 (24/7 Market News via COMTEX) --
DENVER, Colo., Apr 25, 2024 (247marketnews.com)- Optinose (NASDAQ:OPTN) reported that its preliminary XHANCE net product revenue of $14.9 million for the first quarter of 2024, approximately 26% more than the first quarter of 2023.
corporate updates detailing its commercial plans and expectations for XHANCE(R) (fluticasone propionate) following the recent FDA approval of a new indication for the treatment of chronic rhinosinusitis without nasal polyps in patients 18 year of age and older. Optinose will host an investor call at 10:00 a.m. Eastern Time today to detail its commercial plans and expectations for XHANCE, following the recent FDA approval, and the Company's financial outlook.
"The recent FDA approval of XHANCE as the first and only approved drug treatment for chronic sinusitis (CS) is a landmark achievement," commented Ramy Mahmoud, MD, MPH, CEO of Optinose. "Because we plan to leverage our current commercial infrastructure, including 75 sales territories, we expect to need limited incremental spend to effectively reach the estimated 3 million patients with chronic sinusitis who are cared for by ENT and Allergy specialists. To prepare for an effective launch, we have recently optimized our sales alignment towards a chronic sinusitis call target universe and partnered with a specialty pharmacy hub to improve patient and physician office experience and increase prescription fill and reimbursement rates. Based on our market analysis, we believe that our base planned efforts focused on a specialty prescriber audience can grow XHANCE peak year net revenues to more than $300 million and allow Optinose to produce positive income from operations (GAAP) for full year 2025. With incremental investments in the future, we believe the market opportunity could be expanded to over 30 million patients through outreach to the 7 million patients being treated by primary care physicians and by direct-to-consumer activation of the 20 million patients who report suffering from chronic sinusitis symptoms," he concluded.
The post Optinose Reports Preliminary Q1 2024 XHANCE Net Revenue of $14.9 M and Provides Corporate Update on XHANCE Launch appeared first on 24/7 MarketNews.
COMTEX_451397137/2900/2024-04-25T08:54:49
