OPTN - Earnings call transcript Q2 2021

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Operator

Good morning, ladies and gentlemen, and welcome to the OptiNose Second Quarter 2021 Earnings Conference Call. [Operator Instructions]. I would now like to turn the conference over to your host, Mr. Jonathan Neely, Vice President of Investor Relations. Please go ahead.

Jonathan Neely

you quarter us plans XXXX remainder the thank review as for and of second OptiNose's performance, year. morning, for today joining we the Good and our Chief CEO, Officer, Commercial Clavelli; and Goldan. Miller; our our Keith Vic by CFO, today Ramy Mahmoud; joined President I'm and Operating our Officer, Chief Peter optinose.com presented Section. Investors will The call be the slides be that viewed in can this on on our website

statements. call All as you start, that that to our will I include this during forward-looking we historical forward-looking Before not remind conference statements identified are facts would discussions hereby like are statements.

to and to by subject are statements actual those statements. cause such that results Forward-looking materially indicated from risks uncertainties could differ

forward-looking well elsewhere in Additional Risk SEC release the our and and under available is and earnings discussed and note as optinose.com. Factors website their that we section recent sec.gov, section the most information Form and filed the today, on issued under XX-Q of regarding are website, that these the at as statements XX-K Form on factors OptiNose's cautionary forward-looking at statements with

undue cautioned on to place reliance are You forward-looking statements. not

Forward-looking update of call undertake these any statements as date speak call and earlier statement, in statements. or to this revise indicated such any no or original the obligation during we this of conference date only of

I We that, turn now will to remarks, a then and Miller. make call Peter? question-and-answer will the prepared now session. we will With Peter to over move

Peter Miller

key Starting our new from growth, of in pivotal everybody. today's good revenue that XHANCE half company potential Jonathan, that believe clearly much, Slide very and you to highlighting I'd sinusitis presentation. driving XXXX chronic first our like progress value. X. to towards X morning an the made and by trials appreciate for is this strong unlock we begin objectives, joining time Thanks and successfully takeaways This We have us core exciting completing significant our morning. on X we

guidance. financial our performance was aligned QX full-year with our XXXX First,

and there growth paradigm in asthma, International such Allergy of in of believe chronic multiple a and very Forum is that ENT areas the and continue an other support will for revenue leader the in we as offered emergence polyps, independent both with step-wise rhinosinusitis communities, of Second, as the of a much role to This the paradigm published We're highlighted was pain. disease algorithm experts the care. subject the in XXXX. about Rhinology, hypertension by adopted are thought medical leading allergy community in care that June the nasal from of opportunities excited treatment step-wise XHANCE

that found traditional recommend biologics. a higher group be in symptoms And surgery. when X expert been this Importantly, tier situations. as XHANCE to tried have sprays surgery and patient a progresses when before after X, be recur such inadequate, considered or to care, nasal One,

the As to continued step-wise by believe beneficial continues XHANCE very awareness care paradigm physicians. for the grow, adoption of we be it could of

Another flow we factor is in remainder believe patient XXXX could access. improvement in the revenue growth and support of physician that

return complete several have the and visits yet ENT patients a by of we've to improved Although offices. market last the of not conditions seen during number months, diagnostic allergy

our Additionally, physician to norms. pre-pandemic offices, representatives also remains sales below access those

in the relatively patient entirely will specialty is and volumes potentially to environment the respect not last access Although stable the with physician both clear, our year months of into environment believe those in pandemic offices. representative's offices, we future remain improve our and to

driving could promotional historical XHANCE, response Given beneficial believe we in with growth. be the seen have high we this

well. for their to representatives continue benefit we to improves In with partnership our see get pandemic from environment potentially addition, more Kaleo, the as potential as access

to in of of the made program. year our a as improvement filled is patient believe the prescriptions there changes per potential we we average number Finally, co-pay result per assistance for

our results pivotal and in this to of remain enrollment top XHANCE completed on firmly trial patients line in sinusitis trial track Third, July, have the from clinical of evaluating with we for in chronic treatment first quarter XXXX. first

focusing differentiation second trial, and chronic to data patients and be could the opportunities We from quarter could be by the for first the to a successful be for expect growth basis have can create. value for partner we chronic sinusitis. are treatment sinusitis, are fourth, in not the audience, efforts for results we in in the who physician enthusiastic chronic ever engaging but the our sinusitis multi-fold second topline significantly create additional ex-U.S. opportunities, be the believe about FDA breakthrough our would therefore pivotal physician strong U.S. trials a all substantially reach trials could primary could game our very help expanded XXXX. enrollment drug complete the on recruitment which We company. current improve million business. a further now drive in audience for year-end, to of increase target by a care, for And could expansion of product that a population, the approximately a also suffer only changer XHANCE the XX these approved sinusitis Chronic of of

prescriptions new year-over-year to and highlights the XXXX compared slide in to new were there In prescriptions Turning next. XX% performance for second X. quarter Slide quarter in on XHANCE XXXX, We XHANCE, quarterly increase strong for of since and on I briefly had the the will growth a XX,XXX highest number second touch approximately second launch. quarter this XXXX

the new number our high due new over of important What's increase prescriptions, of new addition quarter XX% the X% was growth The the of XXXX period. the XX,XXX. the prescriptions in has co-pay the first proportion improved drive increase the XXXX per in pleased the is market program. quality XHANCE to was the number over quarter also of and This filling in XXXX which which XX% to the increased revenue same the covered expect we've second though, second that represents prescriptions, related total XHANCE. to in second rates over our assistance higher changes This pandemic here average same peak for approximately patients environment, of we increased with quarter While the in in refill we're improve prescriptions of period, disproportionately restrictions, prescription. prescriptions market of increased

share from XXXX. X. to second of in X.X% XHANCE in of Turning XXXX increased market quarter quarter Slide to X.X% second

made number second physicians second As to who increased the XXXX quarter returned prescribing of gains focused market pre-COVID part on to towards have year, the market or total by physician to Breadth patients as filling holding quarter in is XXXX volumes potentially and we're of the later depth we baseline well. from of share. the on prescriptions the in adding XHANCE measured

of in compared had XXXX, of to fill at quarter XXXX. a breadth, least second approximately quarter Regarding second prescription an X,XXX increase one XHANCE, physicians XX%, patient

moments, in XXXX, increasing the faster corporate physicians has to of physicians number with quarter provide the In first depth, but more a quarter I'll that remarks, for our closing second Keith regarding the perspectives to grown more XX% Regarding with quarter have few this than XXXX who than some XX second number I'll now comments Goldan, in XXXX and XXXX over second our even patients regarding from prescriptions XHANCE by by segment. filled turn quarter guidance. CFO, call

Keith Goldan

thanks us for and to joining today. everybody Peter, Thanks,

to Slide X. Turning

of XX% prescription parties by second OptiNose network, for prescription commercially second available of on $XXX effect forward. fills continued of compared XHANCE, this quarter was XXXX patients had received third XHANCE targeted our from year we assistance XXXX. insured assist combined suggests to XX%, of and prescription on of net the increase increase in patients were reported our of reducing by plans rate second not by $XX.X intended in while the revenue in on XHANCE $XXX, the also Based to program. to purchased we changes one-time in preferred These plans. the the available data quarter to the cover earlier average XXXX with As of net effect absence pharmacy to directly revenue per revenue the and increase the million that changes was co-pay quarter growth recognized program going and per from quarter of prescription beneficial data revenue, driven revenue of we in per year-over-year XXXX. prescription is do compared second the that increase prescription Data changes an covered The sustaining expect growth per an

X. Slide to Moving

year we for prescription full notable the XXXX Our the have increased remainder per and is with guidance expectation. unchanged of revenue of our exception

to that light by for factors of in expect XHANCE revenue prescription, prescriptions prospects year more could for coming year our $XX will of patients insurance program, Prescription the we a being volume XHANCE. XHANCE result potential patient number in made audience, continue of we full average target and we revenue per million place changes improvement net from the stepped-care, include made our co-pay supporting filled cover exceed and per First, prescriptions this proportion the XXXX. per that greater changes embraced in physicians assistance both of prescriptions growth the drive with to from

well Improvements our offices, and offices Kaleo number patients and greater to the visiting fill patients earlier, these as co-promotion. said I per our prescriptions those are data as in As of ability year. visit territory physician's managers'

of million. stock-based expenses Previously, to expenses, revenue be turn compensation. with we continue first of year XHANCE our to be full compensation is expected $XXX we the quarters to improvement range million, exceed to X see year stock-based to revenue Ramy programs. half. from to development full to I'll the of $XX XXXX $XXX exceed for range Total approximately respect to the the the we expected to expect to operating relative prescription And XXXX, expected per we is year therefore $XXX finally, million expect expect $XXX. Second, $XXX. now XXXX over in call net to operating XHANCE million to the for remaining be discuss net prescription, of $XXX in the to XXXX per over excluding million full And now which

Ramy Mahmoud

Keith. Great, thank you,

trial. I'd XX. sinusitis. evaluating Slide in pivotal the chronic doses like similar with XHANCE are the basic a to X studies here briefly our of of X-month remind The chronic trials FDA-approved of of population sinusitis Turning to design both you

of Turning pivotal XXXX. program, study enrollment quarter comprise first That XX, our the the to which chronic trial, regarding puts results sinusitis earlier, firmly registration the Slide X track for in XXXX. on discussed top-line us recently first have we trials, to completed as

our of the recruiting are focused on All trial, study XXXX. second now efforts

We the second assess In the blinded interim planned June, to first variance we hierarchical X variance similar analysis for quarter second in We blinded previously interim top-line in expect compare and to XXXX performed planned, a complete having the XXXX. of reported that the study co-primary study trial a endpoints the fourth had initial we to assumed the results in variance of during XXXX in have enrollment design. observed the in the the quarter of the the to in baseline opacified sample to analysis completed change to the assess average -- the interim the is percentage variance scores variance in CT the actual week opacified this XXXX, variance were whether co-primary intended Like from endpoints first percentage observed analysis assumptions XX. analysis, X the size We consistent being of which second with average to calculations scan in hierarchical of our priori study the trial. assessed was in volume, endpoint. the

data the for during analysis second lower size initial been sample variance on variance performed projected assumed was than at of all The from study approximately the patients design. The study. the purposes had one-third estimation the to of observed result complete that the was was

we for previously analysis. endpoint, the our Given XXXX, for XXX the the final the the to in power first statistical sample reduced XXX hierarchical trial size patients this result reported approximately originally co-primary and maintaining while from targeted in results study similar

trial planned a data, including XXXX a to becomes scan have analysis CT when allow data X-month blinded for available. similar We interim follow-up sufficient

last to we our with approval July, OPN-XXX In study use authorities our the to for adaptive of longer pandemics. from to received Moving potential preparedness by Final and for from is Slide at in regulatory call, with time drug anticipated or against conduct a treatment regulatory now XX, approval of change of OPN-XXX adults product proof-of-concept viral utility and in evaluate COVID-XX authority Mexico COVID-XX. prevention future candidate enrollment. Mexico, load randomized, regarding with proceed in took study early earnings the the available but was open made for study than of after single-dose

cohort design have each Recent expect endpoints may the there variants and the OPN-XXX the results infection role that believe to evaluated, us to shortly like leads people, vaccinated the useful in for the COVID product vaccine initial study we a context after be pandemic news widespread availability. address Given evolving even and to very be of enrollment. concerning to completes of breakthrough a in

and sinusitis we sharp are our to Therefore, that we growing development available, excitement other maintain the organizational the sources our chronic of have despite of to on on focus others anticipate for capital we completing value of becomes noted, pilot data further and/or when OPN-XXX, of partnerships previously grants, As from XHANCE and OPN-XXX. the support need potential study trials. aware seeking

back take we we to Peter XHANCE Before to on in closing a that brief if first are a to believe successful put for few I'd for minutes be created the developing treatment chronic drug call turn I opportunity sinusitis. like significant FDA-approved will remarks, as the the spotlight

or patients So turning XX engagement believe sinusitis. with of polyps care successful chronic could primary to million XHANCE We plus have up to partner, promotion Slide chronic development XX. a to nasal enable sinusitis either who

audience, XHANCE's CS patient first of population physician in there greatly program us in and sinusitis because chronic at called ahead are is potential is approximately specialty driving setting. although is with million Our the we expanded demonstrate growth on nasal our specialty indication suffer XHANCE our are if strong Today, X from a efficacy. aimed actively of who trials promotion polyps important treated

driving revenue at for equates year, XHANCE growth full $XX expectation to least are of than evidenced this to net strong XX% by which more growth that compared We XXXX. context, year our in as million

the paves the of patient patients a that However, an XHANCE we target care within who partnership which is physician for population million indication A in to way treatment, lies to sinusitis size the treatment patients triple first primary setting setting. we actively and of care active patients. sinusitis XX chronic most share XX audience enable seek approximately for potential the are care in because would audience, chronic preference promotion fact aimed the X a patient primary would the sinusitis specialty promote audience our often. more continue times a where today seeking partnership the million primary total we Even where grow specialty at population chronic

a large population that from to option. XHANCE In whom suffer the addition, without promotional up the approximately This treatment chronic up that of by X results physician possibly patients a today, that's do to in a primary want that patients surgery of polyps care million suitable we potential direct-to-consumer sinusitis by a treatment that or do from million million more own. XX the has partner, an And believe total treated to patient new XX efforts. there's physician current they not anything for offer promotion. of seeking can This have symptoms example, by incremental because regularly enormous cannot on be for their our of nasal increase may are to their they who buy not feel compared and pool are them the sales specialty focus physicians activated be patients

As a call a turn partnership. result, through closing there's opportunity remarks. we the significant Peter? value I'll now believe for back to creation Peter for primary over care

Peter Miller

Thanks very much, Ramy.

the laser-focused to reiterate continuing open a you. trials. I'll Q&A, in the our on take built up are that and momentum for Q&A. grow moment XXXX we're second have completing quarter sinusitis XHANCE Thank now chronic moving And and we'll to we call Before to pleased with

Operator

Instructions]. [Operator

first the with of BMO Markets. comes Your from line Nachman question Capital Gary

Unidentified Analyst

much is seen for number for key a of more volumes you year? have to This Nachman. do dramatic recovery in is XHANCE? back patients [indiscernible] How how the of patient for of half you in the prescribers first change and in question trend My there XQ the in Gary expect is, room

Peter Miller

the we've question at think is year And which -- of seen the the new category new in to really growth XHANCE. and the period. this just the in versus indicator is sort quarter going what patient in to answer Peter, how prescription category, best look versus the I last tracking for second flows are place of is that new the is sort this prescriptions, into of and not prior best offices

year, you And quarter didn't sort that prescriptions. last a But frankly, since recovered quite levels We of new the have second in on a will. decline XXXX, very year. you've non-pandemic seen the reach if then, a of has of significant it category

has expectation answer back returning. your returned. there opportunity patients and this masking room So, year, that some is while there offices certainly for -- the There is will effects out sort minimally things number growth from certainly in audience By in a way, Delta is other be period. certainly the returning obviously at an which we is anecdotal physician a exacerbations during suggested, at to have that patients anecdotally But for the little limit who now. our chronic of of rhinosinusitis do really stabilization there did hear the room, who comments patient been continued there the all more and more had had exacerbations, we're more of with limit patients variant. half even believe patients and question, least recovery that a we volume is But, currently right certainly bit point potentially

Unidentified Analyst

I another initial could the does you And a by terms prescribing fit behavior, you in terms your Have more strategy of for -- experts? marketing And seen and on treatment that some recommended going impact provide color question. of around have forward? XHANCE committee Kaleo how any into algorithm in

Peter Miller

I'll Ramy, thoughts. and with follow-up why you don't start, some then

Ramy Mahmoud

the key an as a points. highlighted identifies care counter the the symptoms a over XHANCE before take And to in -- our in at like like treatment those course or there surgery do leaders recurrent the hope see product with again to consideration earlier, after disseminated. steroid, second widely injected the algorithm XHANCE tier increased is I'd you've inhaled the see nasal we of and variety is are surgery, as if algorithm, in using from a we in high After those and both widespread we sort concurrence both of a both a of of feedback escalate of algorithm at The places, as becomes places, then point you and more pretty area biologic. adoption to our algorithm of positioning thought tried X anecdotal that standard places

Peter Miller

June. Yes, really part the point we algorithm the adoption in I'll the make is terms in market promoting that of just latter started in of the

So are adopted to any our way we believer that that's will, this And our really not encouraging is physicians the about seen impact is any exciting of is in in material the volumes, group the the have you algorithm if very segment. of yet us hearing part things. algorithm

XHANCE roughly the XX,XXX have really of So physicians believe in group means adopted we're targeting that we about -- their expert strong be to of only really will XX,XXX, physicians treatment the not where recommendation this adopted you if algorithm algorithm, practice. of could physicians for the people have the very giving yet this kind fits influence algorithm balance potentially a which the of in way who

So is is by We couple presentations, excited at business a some in very about weeks done the and we recognition. people ago. ability physicians with grow -- were in we're were big many real presentations it. being presented of ENT enthusiasm, really just general that the this being algorithm of the forward a to meeting There behind to look

Operator

Folkes question Fitzgerald. And from Cantor comes your next with Brandon

Brandon Folkes

- rhinosinusitis similar suggests and volume that coming nasal XHANCE So IQVIA data in are chronic allergic polyps. from prescriptions rhinosinusitis

Given the current CF target. of this value for the what's your indication

Keith Goldan

then here. the Well, add end you at comments I'll Ramy start, and have some Mahmoud

Ramy Mahmoud

for constrains diagnosis prescribing IQVIA other usefulness by its may this specific be that limitations the understanding issue on So different has in from really this categories. data category

to today, some our the prescribers minority market our use makes market that which although indications them experience limit our polyp suggests perceived chronic of approved our prescribers the and and only a of their prescribing like substantially expanded indication in across are first research negotiations If of product treatment for largest to-date, also prescribers of potential promotional product of coverage, for which called-on choose to of a our audience. sinusitis Our polyps. part efforts is to called-on scenario which barriers sinusitis, promotional use for is majority to limited large will nasal and indication of current the nasal the depths current in adoption. the there which result will a meaningfully efforts, XHANCE Furthermore, insurance our do of as we facilitated most chronic that anticipate much physician payer of believe lower increased broader produce further is in we

new the So, a associated overall is and audience. volume prescribing that here sinusitis in chronic we significant indication think the physician specialty potential with

Peter Miller

insurance I'll it that But few covered prescriptions very have not in insurance Yes, broader. it that. we product is. only the they believer in earlier, but in if evidenced really our in limitations patients think is as be say it the insurance that And we've said broader covered, call the in lives to the our to writing really and XX% high the really, outside total I we Thanks intranasal of of coverage to as that for add the we well, broadly using of have to time, the Is not written, but by which as that physicians we more of that it segment of algorithm, good good very very indication a had one that said adopted the to physician belief all means, fact is coverage nasal patients, that historically question. of really share as said Ramy, I Brandon. we've clear, has good limits that a segment only using really group have. essence the not and polyps bit a are is be XX% we insurance as have they dabblers key it, as on sort of that factors historically

product to is that's a we not, So, I pretty broad situation, limit is of polyps, said access, many many, limitation. nasal believe it earlier the not have physicians as and actual wide which our plans however that but

perceptions this the indication therefore really are in our we and way, as that segment, evidenced fact go that by essence sales the we believer have issue think indication CS reps are chipping not grow are by takes away, believe and you limitations So, in in will growing but X indication patients, most the fact our eliminate part that patients issue partnership. the exciting part the by be the earlier that way, indication specialty mentioned treating probably the to think more the as the of is And physicians altogether. away significantly at the the we're aggressively they and is Ramy opening will in current by that accomplished place. million the let's in these up audience care we audience another look, primary XX,XXX the say, the we can via And that business,

very, of So the excited very indication. we are about potential the CS

Operator

next Dan RBC And from Busby comes with your Capital Markets. question

Steve Daddeo

This our for here. ask is Dan. Steve from Thanks here. Two on I'll for taking questions and upfront me, them just

to results I built or with physicians, back year? to and some that is you're seeing can face-to-face maybe expecting trends the The then guide, back regard reps and you're to assumptions in you is, XQ talk there to what too rep be the expecting any with gives my of on variant? question seasonality million the back half confidence in $XX access of to you the in just the talk if Can maybe get COVID want have second on just threshold. able of are color regard to we And any some percentage the interactions, year, sales on half hit you're just you going Delta the the first million what about you based of $XX imply you to exceed

Peter Miller

drive you drive that that there and going but things we I'll -- two well, maybe Yes, is commentary obviously as can to some Keith, believe growth. add revenue start are

is average first The commented seen net prescription. we've we've a that increase really revenue in nice on per

nice made in it is - and not we So, co-pay was our seen that that that's very was just fundamental, that because something we've of a this improvement program. it changes assistance sort

algorithm back that improvement significant we've a And and dramatically to is for volume, we and from I'll really the the at will, if year since identified bit in and actually patient January, you a was were hard feel see October, into but the what reiterate, on reasons - the a the office the have this the normal March environment, access obviously I environment, the earlier, you both -- there tailwind, pre-pandemic. specialty about saw in February, your the is not Steve, flow our improve be the half of quarter script, -- was Keith think environment both we predict a the covered ability you that the we rest. timeframe. last there. X the level didn't a timeframe. the environment way general is maybe of the it comment to volume strong at grow impact, good November improvement access going that there should and because you little but, in flows, started if areas despite very at second as We been up patient back of if quite that I number about in So, variants relative what's of sort the and we're in and in By ability happened about our to but first that asked it's to growth the year, with maybe Clearly our start to on to like then stalled, the you despite, spring this look all year

office So, get worse. access, our relative have environment don't visits, to patient rep and don't as as we -- well think it's we likely we forward, specialty look environment The to as your question right of a improvement. I'll And growth crystal anybody there but to answer possibility second believe an now, I'll back we go else. the But, like drivers. is certainly other ball

be and face-to-face now the calls more Our calls, way more really the are target found virtual We than effective right is are virtual that effective. make calls. We're about at just face-to-face X. but to effective face-to-face by X calls much can

number the moment the we issues to very environmental And our ago. So, want in promotion, sort right are the of we access, because we we I not importantly, get business, responsive just about that of move when and we we are to said calls on of of right I the that's where be when call talked number physicians. this have largely, the

that So, potentially and part we in what minimally COVID, of we stable growth. game we that improvement the going variants. be back a have think number audience specialty of term near other More ability half with environment potentially a other the factors bigger a depending year by to Delta happens our the latter changer is in Algorithm drive from get think on physicians. broader to adoption are the the will important of

value potential and co-pay As the uncovered refills covered program patients who Keith are of are average a see and people versus we rate, We're changes in proportion nice higher seeing real mentioned not higher not new impact covered. only our versus a on in net because provide substantially prescription. per refill the revenue covered

real Kaleo you see on yet obviously not the can value seen nice should rate. get think full we've from we promotions. impact the refill So We a

So, $XX you put in confident are achieving all that in back million together and the year. the half we of yes,

Operator

Ken comes question with your And Cacciatore Company. next from Cowen &

Kenneth Cacciatore

of broad dealing the when need indicated co-pay have dealing looking you it to by as that assistance and are kind mutual, and that partner. to is primary you're of think CS is, almost if decision, you're do a real access, And distinctly seems DTC want there with I to I to to going two an products. the and partner kind need talk be partnering is such about what we're discussions programs a at with for like would and need care, indication, and going to do going the different mean I opportunity intimacy, to really decisions, coverage

a partner negotiations So, could bit be you whole we normally that I be and if a on with distinct It's stand. unique to opportunity. intimacy a not indication? forward just seems that about company. with, would looking the the what wondering, even maybe progress again all was like little where And that congratulations than then looking that the buyout and very talk massive partner to these deal and much maybe you CS Would and

Peter Miller

But, of really the question. to for that value a answering thanks is, I And specialty the think the enough you're in I by before, Ramy people as -- it's we job did game-changer. there's we what because good very from audience. don't going a are people audience. potential highlighting in But, real think realizing the Ken, are said Well, I, indication I'm the question of reiterate real the by Brandon, of but because Ken what excited the this indication, specialty much way, value

say, the to if And relationship, If who discussions that about a be it's in partner being working partnership is very can there motivation have because number be significant the candidly to a you confident have we're managing come the Ken, be that million get going strong to down we're it. care very, economics Ken, to therapies. the that care to -- relative confident primary is intimacy we're million sure and big in the opportunity, we're of It's partnering very we opportunity, because question we real size the X expected to XX patients treated likely a people, a the very would over of think primary going relationship relationship. make if really care part patients a on another needed our economics going inadequate good excited a primary relative to the reason for partner. Again, that able partner. to with get with be of going manage a to about I'll currently about and -- that Relative we're -- lapsed, to of a the the that

get great and So primary said, a will we're opportunity care as we the I confident, partner. about feeling very

Kenneth Cacciatore

about thinking anticipating? where timing. but -- discussions of we the we be should Obviously, timing data, stand give date have in you need a sense and maybe you're when us we can Peter, we the

Peter Miller

say to I'll -- just a those get confident very going on to comment we're we're going partner. discussions. I'll that not reiterate, I'm Ken,

Operator

Your next Sandler. question comes Piper from David Amsellem with

David Amsellem

So a in significant further the -- certainly how room have polyps clear syndications, for there. penetration that nasal you

of of infrastructure have R&D terms asset a in potentially So, indication, commercial you regarding of And comment talk you in how kind expansion more where be of this place can at assets? where extent long-term regarding DTC and the over appetite within for in the stage activity just point another your stage or within aggressive asset, it's the question on of then that or to leverage sales addition in activate DTC just multiple even you asset bringing about whether your can which and that can asset, like a patients, can lies secondly, time, that need really setting? you you that to another

Peter Miller

that saw as of product. many we going Relative patient to pilot that we offices indication, into the work -- polyp with care problem aware terrific many DTC, primary some talked and that saw we we The by historically, did a was we the activation weren't there. saw patients do have way DTC with candidly we offices, nasal

the their well We is also that say, there polyps DTC, some sort issue way in hand had of you polyps. nasal a polyps I even though raised are may product for patients and have very the because don't the when by indicated who they have put

will audience, indication, think you is value partner, a chronic product CS the for a we David work of care done. indicated from the of primary the the think lot of real because obviously broad among So, with have DTC sinusitis, CS products and we've if about indication we really that we know a because with the broad awareness

very you product - for people product a sinusitis, know that, who well have is chronic very it. we disease have they million XX diagnosed say is the I the known, If have well people there's say,

specifically DTC polyp that, lot lot of nasal the CS polyp, a learned So, our of our you digital against in nasal on has really think know and said the application indication. that a think we efforts, smarter with did lot we we're Having group. ultimately we the doing efforts gotten how a the I biggest

that that question. hope first I answers So,

we a revenue, CS really million On business to When all on can an we're are the now And with get approaching get expense going by the side, as new the $XX to a relative million operations. puts reiterated, on $XXX flow million our $XXX and north on XHANCE of time. to to certainly We from it, on second $XX run potentially laser this million. rate cash confident that year. the say we question end you right to potential us focused trials see David breakeven going asset, get this we've growing we're of to the away,

that in that's right teams of on that's now, But, leveraging where don't efforts our in calling will - there we term, but are, are sort we is we the be see David, to road ENTs stage focus terrific pipeline the targeted. while place, are our sales assets, on in certainly So and have real value all allergists, happening well. Eventually for the down the looking in. potentially to bring eventually absolutely anything -- assets look immediate in focus commercial initially, some very as we and

Operator

like time. All at this to conference back would right. I no showing now Peter the questions I'm to Miller. turn further

Peter Miller

call. we very for you the thank much Thanks will operator. close Well, attending. point, everyone this At

Operator

and conference. a Thank gentlemen, you for today's this concludes Ladies participation wonderful have day. your and

disconnect. all may You

OptiNose (OPTN) 11 Aug 212021 Q2 Earnings call transcript