OptiNose falls on lower-than-expected lead drug revenue in Q1

OptiNose

12/05/2022 20:17

** Shares of specialty pharma  OPTN.O  decline 6.5% to $1.74
- hitting lowest levels in five months 
    ** Co posts Q1 total revenue of $14.8 mln from sales of its
lead drug, Xhance, used as a treatment for nasal polyps, a
condition which causes swelling of nasal lining  urn:newsml:reuters.com:*:nGNX7m9PX 
    ** Analysts were expecting revenues of $16.7 mln in Q1 -
Refinitiv 
    ** Reaffirms FY Xhance revenues of at least $90 mln 
    ** BMO Capital Markets cuts PT on OPTN to $6 from $8, citing
a light quarter for Xhance 
    ** Brokerage says in-person sales access for Xhance still
has slower-than-expected recovery, which is impacting
prescription volumes for the drug 
    ** All five brokerages covering stock rate it "buy" or
higher; their median PT is $6, reflecting a more than 3x
potential upside to Wednesday's close - Refinitiv
    ** Including Thursday's session, OPTN up nearly 11% YTD  

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))