OPTN - Earnings call transcript Q2 2022

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Operator

Good day, and thank you for standing by. Welcome to the OptiNose's Second Quarter 2022 Earnings Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker for today, Mr. Jonathan Neely, Vice President of Investor Relations. ahead. go Please

Jonathan Neely

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

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

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

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

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

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

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

Peter Miller

We'll moment, highlight today's key I today. detail joining a would like Starting everybody. from morning, good go We but Jonathan, Thanks, you appreciate takeaways in us on more X. into presentation. to X Slide and

view of III knowledge a program quarter, improvement as Phase pleased and treatment our ReOpen it is is and First, shown ReOpenX to top the the for diseases adults symptoms United sinuses. an We who the chronic XX results. symptoms the million XX chronic results most on from inside the outpatient development with program common the as in the United in we're of believe measure the chronic States the landmark positive suffer million of from line both one second for in first this nasal and of inflammation we sinus reported important States sinusitis, reported to the disease, approximately in per We the visits adults year. drive

as program regulatory teams created sinusitis. pursue Second, chronic the are a treatment ReOpen the a by and our for approval clinical to opportunity for XHANCE seizing supplemental

would potential very are excited discuss create, by We the new that will that slide. next the indication on and briefly I

guidance Third, to when X high first a we Assistance effect for change strong year to that we Program intended start That net same and expenses. we compared to within That and of operating to in the more to million XX% believe to full in period prescription for same million Fourth, was for X but months our discuss months chronic the period XXXX per implies XXXX first XXXX nasal prior We're the the the sinusitis the revenues growth XXXX. compared is revised a provide expectation $XX $XX growth increased preparing XXXX see revenue for net offset year at in year its XHANCE revenues, in full of of the reduce of we're Co-Pay right prescription, revenues the assistance for XHANCE indication. reducing least patients of also ago. co-pay current with $X million average for at XHANCE deductibles. than approach XXXX reasons million reduced we in change indication type increase our with growth the for filled number of to revenues. that I net working We've net prescriptions driving XX% by implemented operating guidance smart time. to the provide the the we of XXXX the net a having larger least at is at proportion which unprofitable deliver our full full of still is is reduced for with the opportunity polyp and that our $XX unprofitable million, while $XX which with this guidance, will taking for by reach year. which year guidance XX% Overall, expense moment, an much

X. Slide to Turning

to centers much has nasal Our to treatment we for up specialists, approximately current our indication of from who anticipate target of ReOpen program infrastructure, patient commercial million the most diagnosed potential a nasal diagnosed patient polyps, already XX million allergy the treat significantly the adding ENT patients. are physician for polyp indication first-ever X who sinusitis. XHANCE, on with of the by to call population. With audience our population X excitement those the up bigger chronic increase for chronic We patients current around a to the with universe focused sinusitis that diagnosed on and our current million patient increasing a

of our chronic that is represents increasing the market promotionally incremental of a group opportunity sinusitis top the patient an billion, $X this care potential indication opportunity market population we could While there that, total million, infrastructure. our target billion value of patient, $X our of the primary which partner believe current treated per sizable a accessible infrastructure. market without in would current opportunity at investment X all On a for to by approximately is a accessed new triple approximately be commercial with to significant physicians

target X represent there of roughly primary the X by and physicians specialty additional audience, additional treated an XX,XXX in estimated and to million physician treated market care. physician audience currently patient approximately additional currently $X patients incremental our diagnosed patients population million are an XX,XXX This opportunity to addition billion. in In

their whom no historically be a care. needs. repeat to on from our steps. and they because suffer not disease, of has active diagnosis, million of will to able ReOpen for for patients who these in in company are near summary, the Ramy? audience a I'll medical can primary we do believe or the patients target In physician what of Ramy their offer forced over meet them the next dramatic of surgery true given an expansion were of not to turn the are game surgery prescription have We estimated symptoms program been partner believe the treatment, many additional For changer but call results up our remedies aware likely receiving regular believe care, on physician now discuss term. there over-the-counter this well XX but their to visits, feeling are longer rely potential

Ramy Mahmoud

you, Thank Peter.

OptiNose ReOpenX at not their Turning ReOpen work their describe have bring been pandemic, trials. following like these Slide X. the ReOpenX key efforts, the landmark to results of through the particularly on in I'd of to program. trials some start efficacy clinical research by Without sinusitis. patients completion. thanking to this the of and worst possible findings would and to for team periods slides, produced the treatment the from chronic X the I'll have On with the

using with the symptom by the suffering trials symptoms patients symptom In initial is chronic produced from of for clinical than understanding trial trials a contributes score endpoint by improvement treatment. active The both result FDA. XHANCE because and co-primary of treatment mean reported patients in supported The ReOpenX, We program important in both this at magnitude the sinusitis to importance symptoms. the arms, ReOpen X. relief improvement the the with of was ReOpenX of statistically the In consistent objective is comparator. in this magnitude of primary moderate-to-severe was the of evaluated prior clinical was combined first each change the more of and the XHANCE treatment improvement patients approval believe started that in product in and significantly week placebo treatment

Turning X. to Slide

of endpoint objectively changes ReOpen ethmoid co-primary to using assistance sinus treatment. trials sinus was This amount was cavities and weeks the evaluate measure The a the the second in assessed spaces opacification of of computer of quantify of the inside the the of the average each sinuses. maxillary percentage XX X-dimensional inflammation after of and in

to X-dimensional a patients sinus have a comparator. minimum ordinary previously those ReOpenX treatment the sinus treatment at meaningful for scan the both polyps. and cavities, more trials we mean perceived cavities. a in as entry endpoint a routinely it have nasal compared global in treated change treatment, required view inside with a as that we accompanied sinus to improvement nasal which to second reported all using XHANCE obvious establishes statistically We've in either inside that, from to in Although changes images order cavity addition treatment was measured performed patient this In how tracking that inside for impression the significantly effect of placebo as improvement we the or disease have patient's prove the whether found imaging of as with is the because image. we both the mean least of this response At amount sinus time as was were of to important show disease amount But a patients occurring show change. used present are now an active we as to not of analyses arms, by way by ReOpenX, on change opacification in is opacification shared of patients, level a receiving objective distinct and effect treatment previously the into

that earlier, nasal been inside we symptoms program a mark show ever improvement time both inflammation results program in to noted and a Peter sinuses. for the chronic ReOpen the first the Phase III sinusitis these As has testing from able therapy believe that

program reduce Turning X. the sinusitis. show can exacerbations Phase number that are first, another first of of the III ReOpen nasal is chronic to therapy to significantly ever noteworthy aware In of Slide acute we

X of receive asthma acute patients mediate doctor top CS office that respiratory quality as for sinusitis other both approximately this society. period and frequency secondary of prespecified data the harm use by diseases, pooled treatment care acute and was driver Exacerbations and the of trials. care receiving who the XX% disability of interventions to accounts States. the of CS United -- antibiotic in of to involved ambulatory with has acute suggest common We and suffered ReOpenX measured and found daily. the ReOpenX that as important. making exacerbations physician statistically XHANCE frequently key are for in all a and produced a treatment, placebo antibiotic, million sprays individuals to are from nostril significant most been evaluated by a antibiotic sprays antibiotic, life incidence during The to mean daily Data well. in are patients of source of compared a XX% chronic twice XX-week but use for prescribing of per twice visits for exacerbations exacerbation an Escalation CS or poses that care such of there more an patients in Frequent the endpoint both a As of risks patients. other CS major found reduction XX for escalations two COPD, annually visit

treatment analysis, care reduction of who for ever future data XX% from patients sizable number of this additional in polyps XX% to spray with associated nasal of reductions, from of the influence interest the immediately a which first twice of improvement had to were nostril a chronic pre-planned of new nasal this In believe who exploratory nasal perspective without similar and of standard patients also antibiotics polyps We The is acute found for and ReOpenX either with subgroup could per in finding and used observed use trial. the from be with promotable in exacerbations subgroups exacerbations or X specific guidelines also ranged in patients sinusitis to also daily regulatory in disease. XX% up polyps. could also

XX. to Turning Slide

of Our of for pre-NDA That for now XXXX remainder been with submission. the includes to the meeting road September. map scheduled end has FDA data FDA prior a by

to call for discuss information, website details become safety standard for about program, for commercial to of our Top baseline and and our Peter work To I and the the the to ReOpenX, the the approved remind that disease. be in more this Investors to on webcast treatment our started would for review a learn to months. I'd regulatory available SEC are application you view have of clinical the Results first over the ultimately with XX the plan ever and invite review to that and medication ReOpen of second the end I'll by you of replays turn teams common this submit characteristics also XHANCE to FDA back ReOpenX including filings. period like sNDA performance. section type Line now both of which XXXX we already quarter Our anticipate

Peter Miller

Ramy. Thanks,

to Turning XX. Slide

second We are XXXX. in quarter pleased the with performance

the for the XXXX. X keep important in X I we are mind As our year-to-date to things next frame review and expectations they slides, as are that full there year of performance believe

increasing intended is co-pay and per overall rates. revenue growth is of is and net that we the to number program as our prescription a intended and unprofitable more is to our in increase First year-over-year that the the rate evidence revenue the profitable Co-Pay average our growth believe are growth in Program of XXXX, the in prescription. to prioritize We implemented prescriptions. reduce and Assistance change profitable customers that prescriptions proportion This per January greater changes performing reflected in than desirable

year-over-year as interpret we shift. However, correctly also year more difficult numbers prescription co-pay of a will has comparisons changed, have business until past program total intentionally to our be the moved mix

revise may XXXX we market Second volume the the are suppressed that the in patients. greater of greater what fill XXXX also but for than softer a the our July. believe Delta territories exacerbations season declines, the summer sales to net June a vacancies originally over seasonal and variant finding to fall already summer, expected is We're excited growth. of that hires volume the than the combined volumes seasonal our of XHANCE volume due nasal the have We're collectively, very these that impact be experienced revenues. our in drove We that level year vacancies in support and may optimistic novel versus increases treatment resulted our fall to program these will reduced full in by prescription with territories factors beginning XHANCE expectations ReOpen normal new polyp acute in been softer-than-expected experienced for and volumes sales return vacant within expected decision

to, As let said, for to That XHANCE, out period. approximately the by were data start X% of are rhinitis, we September. me review new reaching while market large compared written to over X% the second now In Ramy quarter there plan about new physicians a to condition, includes quarter for physician of increase this prescriptions which actively XX,XXX a component XXXX, results. increased second which alluded any inform the XXXX, prescriptions INS any allergic prescriptions same for in

months of XXXX, compared period. new while the of were there XX,XXX the X the a over prescriptions, XX% For first XXXX, market approximately X% to increase first same months increased X the

increased Slide Turning XXXX, second to a over quarter period. X% the XX,XXX XHANCE, there market XXXX, In prescriptions total for same compared XX. quarter increase second X% while the to approximately were

same the an first the compared the approximately period. months XXXX, prescriptions, months over increase first the to For X were of XXXX, XXX,XXX X there while of total increased X% X% market

second medicine. growth remain quarter is excited incorporate about physicians prescriptions Slide XXXX of X.X% Breadth in headroom of share to physicians future physician quarter to measured to and to as the as XXXX. practice X.X% Turning into XHANCE total of filling more of who of for have second XHANCE the quarter number XX. from in prescribing increase their well. XXXX increased market by XXXX from XHANCE continue quarter second patients second depth We

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

X% in over their turn second XXXX, who increasing quarter Regarding discuss XXXX this quarter quarter to X,XXX physicians from XX depth, to I'll segment. Jonathan now in number than the financial had second number with filled to quarter of that as the with now call prescriptions grew well, second XHANCE performance. physicians more patients a by by

Jonathan Neely

Thanks, Peter.

Turning to Slide XX.

second recognized XX, to million OptiNose months the of an compared an reported, $XX.X of Year-to-date, in we XXXX, quarter revenue second As XHANCE $XX.X X stands the net of June XHANCE XX% compared XX% XXXX of net the revenue million, XXXX. increase ended of at increase XXXX. quarter to

to Turning XX. Slide

high prescription while plans first unprofitable prescriptions available are profitable. second average and Co-Pay revenue for also bills per number network, a directly is on revenue group revenue good X% where have Assistance high-deductible prescription data substantially the XXXX Based for plans net our quarter the to we in revenue parties an reducing we but at was on received plan, increase We are and stands evidence per ended net revenue who a of from covered intended XXXX. we from patients reducing XXXX average call, change $XXX growth that that of average can costing quarter X commercially-insured As a on at prescription of net purchased compared was bills the us per months in sustaining the prescription results. increase and average pharmacy to our XHANCE end of in that this made prescription of XX% net we see our data prescription change XHANCE. -- third increase of by to proportion start second per deductible, rate quarter in the our as covered, the to $XXX, compared an $XXX, per XX, June prescription of Patients for discussed than of preferred revenue what up providing more XXXX.Year-to-date, Program $XXX received net the XXXX by

to XX. Turning Slide

We revenues year full XXXX net our expenses. have revised for financial for operating and guidance both

year revenue Peter be million to now $XX just as the net $XX for discussed, to we XXXX. full First, between XHANCE million expect

unchanged. revenue Second, our guidance per is prescription for XHANCE's net average

full year second see $XXX We compared half of the to and XXXX first XXXX. the half the in of of to XXXX to improvement for expect exceed expect

be is $X from $XXX stock-based million expected stock-based operating to XXXX, the be to expenses, operating million we operating $X full therefore, $XXX expect excluding million range are Third, of $XXX and expected $XXX $XXX compensation. range million. which expenses to $XXX the from for in year million we range Total million, expenses approximately improvement to now to Previously, to from the million in the of compensation, of the in be million. so

over important our closing year amended the this from net XX, to with to back We guidance. now, covenant revenue lower given now Peter agreement to we Finally, XX-month $XX for Pharmakon change address December revenue full to $XX is XHANCE million believe million. the XXXX turn trailing the XXXX, will Peter? remarks. call I to

Peter Miller

Thanks, Jonathan.

to that Before with moving we of we sNDA take I'll on by of and moment submission and support pleased a for where second potential XHANCE the we end progress XXXX, made that CS in look Q&A, unlocking overall, work aim with the to an we to are forward to laser-focused quarter are to the the XXXX indication. future necessary continue the reiterate completing grow major

to up the Now open I'd for Q&A. like call

Operator

[Operator Instructions] Folkes from from Your of first question line Brandon Cantor. comes the

Brandon Folkes

Congratulations quarter. on the

your [QX you since range. refinement Let guidance, that I bases] me I appreciate have of heard there? there out, commentary are seeing that come the increase the on just -- in that uses out CS maybe is And

change terms in coming of seeing any Just great. of back half the color out just of be volume that in would the as Just in drove that any Anything dynamics you're market year well? the CS?

Peter Miller

think, and We don’t relative while. data to – both said, Brandon, of I’ll for Maybe see those this a reaction, data. Relative first the the physician to a trial. paired for to reaction as because we to expect questions. plan a lot Brandon, CS, we take the is We publish landmark do of thanks in to to physician of all, to reaction keep

of that aware the later aware data, That broadly, an this, data but year, did of -- reps it’s of sales the of reasons. And to our now, be to are really is half of this investigators the offices. the in Last So, physicians because aware honestly visits the therefore, suppressing X have point. on think the patient exacerbations. we back a make plan have data, physicians at what the Relative for season but the not to we is at certainly, Delta we sort fall data for we allergy point the year, market as dynamics, of fall. our Brandon, acute we’re exciting variant data, some of very excited are opportunity to will publish not about

the a begs hey, question, the you that So guys revision of did guidance. make why

we that we of the in call, June, a we year. some the we As sales we really territories, is see we return than But get expect can mentioned fill something said, think also a some to we correction normal didn’t half nice saw back softness the in that July. a real as vacant volume as in season

Operator

Gary line is Your from BMO of next Nachman Capital question the from Markets.

Gary Nachman

the primary an partner for in discussions, a file looking what want you How if indication, you're indication? would you would label? commercial part it middle of the process When a expanded of care? of strictly the Peter, broad be arrangement be will on filing or And potential to be for for the partnership

Ramy Mahmoud

for the thanks of question. Gary, So I'll first take that. part the

our sort Our understanding And total indicated the of the would are to we is range there segments. full be both of X sNDA, current the across this that stance with for chronic segments filing space. rhinosinusitis on the those for FDA's of expect new of

Peter Miller

the tell question, we're What you the through approval. if the be would discussions. our all I'll where in data, can would There the the between partners. where the second, on for though Gary, are be I and instances you not any discussions. take And to that of type typically, a partner deals having up look there discussions done involved involved -- also is are instances I'm therefore, in partner not in in going with are Gary. partner comment, Gary, label way thanks the normally, labeling

our partnering partner. in a about continue but I feel said, we on not to discussions, So getting going to comment where as good I'm we are

Gary Nachman

will maybe little sales you turnover you rates in reps polyps, think then that? think do much How once territories able now. more an What you do lost? that? have impact the for Okay. vacancy bit the will nasal And much talk And quickly how was? many just And data have how then start fill that caused promoting to the you them? there exacerbation be reps see a How of the you about

Peter Miller

not I'll than first say take industry pharmaceutical really is immune sales off in turnover our we're in averages. to vacancy, our turnover Gary. no force. different that And And I'll total

a phenomenon think, we bit unusual. So don't here in on. a second that I'm I territories, will year new more Vic? just excited all But point hired, We're little about the the bringing say, experience in and this have a at We is to quarter. reps lot happen I already almost the to we've . attracting company. we're right, -- the So really of real high-quality talent the

that It very about This we So already is that a go it's understand we an for we're to is the to reaction. we in patient big that think to use population I to have data our prove in use. the the Ramy will a we're is see, of to hiring. news in But excited. normal. initial but research area team done sort reduce excited it's that something I just of we're potential once is his happened significant. all referenced And as this discussion. relative exacerbation This said, have been bit XQ. And it The Gary, at bit is but the just his good data, market, and have potential little the physicians. with of suggests antibiotics as interactions corrected really Vic hit having

to the got happen, excited We've but very, make excited. it we're data. said, I go very as about So

Gary Nachman

the terms think just and there need you ballpark, you tap and the of then in really reps you into how us of allergists, to you just can would size an big do primary force you to many need do effectively ENT how effort side, the of think rough on remind care And it? Okay. sales target

Peter Miller

Yes.

Gary, XXX for that’s and and between think we we’ve of right ENT size. is allergy where market, the territories XX specialty So the in and we’re terms been the

of need is expansion we we chronic of interesting force. on opportunity, So prescribers got they’re high about nasal high who sinusitis. also we any some sales to who sales allergy terrific take ENT the that the – calling is as of that but doctors so think a indication all We’ve the of CS of be team, the prescribers polyps, don’t in what advantage will are

force. So to Relative care, sales go feeling want to depends to clear, be breadth build primary it the good. want we’re very Gary. a really on you primary to, going And we’re to I not care

We to has space. to work in sales with a primary force going the partner who someone are care

to the If to primary treated care million to physicians, it’s all go doctors. you the want way care X primary patients XX,XXX by in being XX,XXX

in force that to go sales obviously, don’t the volume a XXX go But a lot top ways managers. territory territory after are Vic? deciles. XXX be what, we to that’s with So there managers. you after the you that, but of, necessarily go care of breadth, And primary to can think full captured XXX, XXX

Operator

the Amsellem Piper from David from Sandler. is line question next of Your

Unidentified Analyst

David. for Isaac is on This

on from And from that you or how at their doctors label could conversely in us. as looks extent expansion Do in and if handle person? gross get a to Trying persistence like. have a evolving, see spreads improve sense consistently that how are a persistence contracting to is, patient payer you to we it's XXXX, seeing think what assuming away then what all? And net do the about patients better rates overall? for X Just attrition move the pandemic, of more XHANCE we the guys

Peter Miller

let the I'll one. really you encouraged one, first we're take second the Vic, by Isaac. persistence, But on

have pharmacies. get, our patient we lot data from of data We de-identified a that

persistency consistent very a have we so rate. And

we fills and consistent very the staying see patient of a once number patients on product, gets per year really with a So the product.

nice So business here. that a building is key we're a why really reason

the really product time, the all say works. I So

that. the so supports and get And use patients data when it, better they

get get the patients wane, more pandemic continued as is continues opportunity As that returned -- growth. and get sort care outside doctors' an to of offices to to of

second Vic, you question. So I'll the take let

Vic Clavelli

reason is on that course, particularly us excited patients it because growth keeping our is network to lot time. new the actually pharmacy good brings more about mean And that patients in at therapy we're of of I Yes. patients XHANCE. a over allows to introduce

that opportunity sinusitis, mean other no the physicians chronic products the sinusitis for patients indicated and for. about nasal other are it of are In availability for the They enthusiastic readily an a is polyps and And the what with really also there a physicians, In both is other is treatment the chronic to in about really we're of is products. that's payers. chronic question business. second Your And indicated going today, chronic but know are there just that advantage those advantage, for the number sinusitis what sinusitis. payers. diagnose not creates the

Peter Miller

thing everything Isaac, I’ll pharmacoeconomic think story cost very with already the very the combined you attractive acute of to And have. way, strong said. with would is medication a for other we that we payers. add, options, Vic, This data also agree our by And the exacerbation I relative

So to good confident going universe. the we’re with coverage new the able be indication to for get we’re payer very

Operator

[Operator Instructions] Your next Stacy from Cowen. Ku question is from

Stacy Ku

quarter Congratulations progress. the on the and

We have few. a

First chronic opportunity. on the sinusitis

can reimbursement? steps So because reimbursement updated some quarter-over-quarter? September for in the for But require you're that about is expecting or if would the And are we the Do you for provide leveraging on the detail there with more XHANCE. able to first still is, are get first the meeting on second seeing QX. friction in the all is recent far? third September, with the would they what to following ask patients And results, discuss you growth any they're details that that you polyps? then something so Specifically, approval? more the can sinusitis a force for We cause chronic few update discuss an FDA? sales That's then that QX question. in socialize Thanks metrics nasal question

Peter Miller

much Stacy, questions. the thanks for very

an going we're think our would unlikely add as you about meeting. following part it's there? November Jonathan, of normal XQ, I call to provide We'll the the imagine talk update probably to if it, anything FDA I time I don't in frame. have know in

Jonathan Neely

the update But back Yes. or that our provide of minutes certainly, November. I then. not mean, to come would an be I'm of call subsequent that. will second so there week meeting timing opportunities update in time investors then the first be us typically to certain QX for to will

Peter Miller

have I I the our really going we do require polyp understand polyp was the out new that we if is, authorizations Those of reimbursement sure because diagnosis. to that will the nasal attest the now that is any don't don't necessarily think question any affect physician there's your your in with prescriptions. of environment. make have question, right about some to to want indication we I Stacy, have we've change typically historically, talked as prescriptions that that information the second we're prior a nasal And -- data think taking way, I it marketplace. that a in about

So agree I right? you Vic, probably that, with think

Vic Clavelli

Yes, I agree with it. do

in So the the population. exacerbations relevant nasal polyp is

opportunity in And rate about so there'll the so... exacerbations of talk and an now that they're very COPD improve a nasal advantage about with fact be chronic as the used to to sinusitis for in or chance in big exacerbations thinking asthma the us, polyps to

Peter Miller

polyp is think patients. on data you're Stacy. is we the this, And program, specific nasal I our The to ReOpenX Yes. data clear but have from

It's to us another it's So QX, you tell product. good reason on comment give for don't labeling. our appropriate good the on know finally, I our just to within is are if promotional another they reason want patients physician prescribe the to product. believe for And that? to It Jonathan,

Jonathan Neely

Yes. I August. I of don't in sitting complete for here We're have QX. much we terms think data really in mean,

bit of July. information a little have about We

that too range that QX June some softness million set $XX what to $XX shift time is I softness in the to for not us on in based the but we the we acknowledge frame, the much net and drove million really data to that think today. to July saw revenue was there's volumes

Operator

to presenters the There time. like conference to for now closing. the back further at our turn this are questions would I no

Peter Miller

just everybody like thank for to Well, joining. I

remarks, patients the we're and necessary I with be said continuing my game-changer a really the work for As to excited year, doing importantly, business back XHANCE end would the our half very also in with most to indication, year product the grow our an important to all filed get the indication, by very, about company. the but we of very current the of think

for thanks joining. So

Operator

today's conference you all attending. concludes Thank This for call.

You may now disconnect.

OptiNose (OPTN) 13 Aug 222022 Q2 Earnings call transcript