Why OptiNose Inc (OPTN) stock turnaround in the after-hours on Wednesday?

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OptiNose Inc. (OPTN) shares surged 3.64% in after-hours on Wednesday, September 22, 2021, and closed the daily trading at $2.85. However, in the regular trading session of Wednesday, OPTN’s stock lost 1.08%. OPTN shares have fallen 32.76% over the last 12 months, and they have moved down 1.26% in the past week. Over the past three months, the stock has lost 17.42%, while over the past six months, it has declined 20.75%.

Let’s see what’s going on with the company?


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OPTN participation in the upcoming investor conference

Optinose (OPTN) will participate at Cantor Virtual Global Healthcare Conference on September 28, 2021, at 8:40 a.m. ET. The company will be presented by Chief Executive Officer Peter Miller.

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OPTN inducement grants

On August 25, 2021, OptiNose, Inc (OPTN), granted non-qualified stock option awards to purchase an aggregate of 60,000 shares of its common stock to seven new employees as an inducement material for accepting employment with OptiNose.

OPTN recent financial results announcement

On August 11, 2021, Optinose (OPTN), reported financial results for the quarter ended June 30, 2021.

Q2 2021 financial highlights

  • OPTN earned net revenue of $18.4 million in Q2 2021 compared to $10.27 million in Q2 2020.
  • Research and development expenses were $8.2 million in Q2 2021 compared to $5.5 million in Q2 2020
  • Selling, general and administrative expenses were $27.3 million in Q2 2021 compared to $25.7 million in Q2 2020.
  • It suffered a net loss of $23.5 million, or $0.44 per share (basic and diluted) in Q2 2021 compared to a net loss of $25.8 million or $0.56 per share (basic and diluted) in Q2 2020.

The half-year 2021 financial highlights

  • OPTN earned net revenue of $30.3 million for the first six months ended on June 30, 2021, compared to $17.33 in the same period in 2020.
  • Research and development expenses were $13.4 million in the first six months of fiscal 2021 compared to $10.4 million in a comparable period in 2020.
  • Selling, general and administrative expenses were $54.5 million for the six months ended June 30, 2021, compared to $52.76 million in the first six months of 2020.
  • It suffered a net loss of $49.6 million, or $0.93 per share (basic and diluted) in the first six months of 2021 compared to a net loss of $54.7 million or $1.19 per share (basic and diluted) in the first six months of 2020.
  • As of June 30, 2021, the company had cash and cash equivalents of $93.9 million.

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Conclusion

Well, as of this writing, we were unable to find any news or development which could be linked to its gains on Wednesday. we hope that it will continue its positive momentum in the coming trading sessions as well.

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