OptiNose, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 04:41 pm IST
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OptiNose, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 19.45 million compared to USD 20.58 million a year ago. Net income was USD 2.57 million compared to net loss of USD 19.4 million a year ago. Basic earnings per share from continuing operations was USD 0.02 compared to basic loss per share from continuing operations of USD 0.23 a year ago. Diluted earnings per share from continuing operations was USD 0.02 compared to diluted loss per share from continuing operations of USD 0.23 a year ago.
For the six months, revenue was USD 31.3 million compared to USD 35.34 million a year ago. Net loss was USD 16.22 million compared to USD 44.73 million a year ago. Basic loss per share from continuing operations was USD 0.15 compared to USD 0.54 a year ago. Diluted loss per share from continuing operations was USD 0.15 compared to USD 0.54 a year ago.
OptiNose, Inc. is a pharmaceutical company focused on patients treated by ear, nose and throat (ENT) and allergy specialists. The Company's product, XHANCE (fluticasone propionate) nasal spray, 93 microgram (mcg), is a therapeutic utilizing its Exhalation Delivery System (EDS) that delivers a topically-acting corticosteroid for the treatment of chronic rhinosinusitis with nasal polyps and chronic rhinosinusitis without nasal polyps (also known as chronic sinusitis). XHANCE combines the EDS with a liquid formulation of fluticasone propionate, a well-characterized, second-generation corticosteroid. XHANCE is designed to deliver medication into the high and deep regions of the nasal passages where both nasal polyps and inflamed and swollen membranes can obstruct normal sinus ventilation and drainage. The Company has developed both a liquid delivery EDS and a powder delivery EDS utilizing natural functional behaviors of the upper nasal airways intended to offer better drug deposition.