OptiNose Inc. (OPTN) shares gained 1.23% in after-hours on Monday, December 27, 2021, and closed the daily trading at $1.65. However, in the regular trading session of Monday, OPTN’s stock lost 4.12%. OPTN shares have fallen 65.54% over the last 12 months, and they have moved down 3.55% in the past week. Over the past three months, the stock has lost 48.42%, while over the past six months, it has declined 52.62%.
Let’s discuss its recent news and developments.
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OPTN new appointment
On December 13, 2021, the board of directors of Optinose (OPTN), appointed Drs. Eric Bednarski and Kyle Dempsey as new directors.
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Before joining Optinose, Eric and Kyle currently serve as Partners at MVM Partners LLP (MVM), a growth equity firm that has invested in innovative, high-growth healthcare businesses since 1997.
OPTN participation in the recent event
Optinose (OPTN) recently participated at the Piper Sandler 33rd Annual Virtual Healthcare Conference which was held on December 2, 2021. The company was presented by Chief Executive Officer Peter Miller during the event.
OPTN inducement grants
On November 18, 2021, OptiNose, Inc. (OPTN), granted a non-qualified stock option award to purchase an aggregate of 53,500 shares of its common stock to six new employees as an inducement material for accepting employment with OptiNose.
OPTN latest financial results
On November 15, 2021, Optinose (OPTN), announced its financial results for the quarter ended September 30, 2021.
Q3 2021 financial highlights
- OPTN’s total revenue was $21.83 million in Q3 2021 compared to $15.5 million in Q3 2020.
- Research and development expenses were $7 million in Q3 2021 compared to $6.5 million in Q3 2020.
- Selling, general and administrative expenses were $25.8 million compared to $24.57 million in Q3 2020.
- It suffered a net loss of $17.1 million or $0.32 per basic and diluted share in Q3 2021 compared to a net loss of $21.2 million or $0.43 per basic and diluted share in Q3 2020.
- As of September 30, 2021, the company had cash and cash equivalents of $84.2 million.
OPTN patient enrollment in 2nd Pivotal Trial for XHANCE
On October 28, 2021, Optinose (OPTN), successfully completed recruitment in the second of two Phase 3b pivotal clinical trials to evaluate the safety and efficacy of XHANCE® (fluticasone propionate) nasal spray as a treatment for patients with chronic sinusitis (CS).
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Conclusion
Well, as of this writing, we have no recent news which could be linked with its mixed performance on Monday. We are unable to predict how it will perform in the coming trading sessions.
