Optinose Reports Fourth Quarter and Full Year 2024 Financial Results and Recent Operational Highlights

Company reports fourth quarter and full year 2024 XHANCE net revenue of $22.4 million and $78.2 million, increases of 13% and 10% compared to prior year periods

Company reports 23% prescription growth from third quarter 2024 to fourth quarter 2024

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 12% from approximately 25,600 in third quarter 2024 to approximately 28,700 in fourth quarter 2024. TRx increased 23% from approximately 63,900 in third quarter 2024 to approximately 78,500 in fourth quarter 2024.

Fourth Quarter 2024 Financial Results

RevenuesThe Company reported $22.4 million in net revenue from sales of XHANCE during the three-month period ended December 31, 2024, an increase of 13% compared to $19.9 million during the three-month period ended December 31, 2023. For the twelve-month period ended December 31, 2024, the Company reported $78.2 million in net revenue from sales of XHANCE, an increase of 10% compared to $71.0 million during the twelve-month period ended December 31, 2023.

Costs and expenses and net lossFor the three-month and twelve-month periods ended December 31, 2024, research and development expenses were $0.8 million and $3.9 million, respectively. Selling, general and administrative expenses were $19.3 million and $83.5 million during the three-month and twelve-month periods ended December 31, 2024, respectively. In total, SG&A plus R&D expenses increased by $2.2 million, to $87.3 million for the twelve-month period ended December 31, 2024 when compared to the twelve-month period ended December 31, 2023 total of $85.1 million.

Income from operations was for the three-month period ended December 31, 2024, was $0.4 million. This is the first three-month period in which the Company reported income from operations.

The net loss for the three-month period ended December 31, 2024 was $0.4 million, or $0.04 per share (basic and diluted). The net loss for the twelve-month period ended December 31, 2024 was $21.5 million, or $2.12 per share (basic and diluted).

Balance SheetThe Company had cash and cash equivalents of $84.5 million as of December 31, 2024.

 

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