H.C. Wainwright raises OptiNose PT on nasal spray prospects

OptiNose

03/01/2025 13:30

** Brokerage H.C. Wainwright raises PT on drug developer
OptiNose  OPTN.O  to $18 from $5, maintains "buy" rating
    ** New PT is a 168.7% upside to the stock's Thursday close
    ** On Dec. 26, 2024, OPTN announced 1-for-15 reverse stock
split, citing the need to meet Nasdaq's minimum bid price
requirement
    ** Brokerage says co's nasal spray, Xhance, provides a
"differentiated" fluticasone propionate treatment for chronic
rhinosinusitis (CRS) patients
    ** CRS is a long-term sinus and nasal passage inflammation
caused by infections or nasal polyps
    ** Brokerage says "targeted education and commercial
efforts" needed to increase Xhance adoption among ENT and
allergy specialists
    ** Current focus is on 3 mln CRS patients treated by ENT and
allergy specialists, with potential to reach 7 mln in primary
care and 20 mln overall in the U.S. - H.C. Wainwright 
    ** Brokerage forecasts OPTN's 2024 net revenue at $77.3 mln
    ** OPTN declined 64.4% in 2024

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))