Option Therapeutics Inc. (OPTN)
OptiNose, Inc. is a specialized pharmaceutical company primarily focused on innovating and bringing to market treatments for individuals under the care of ear, nose, throat, and allergy specialists throughout the United States. Its flagship product, XHANCE, utilizes the company's proprietary exhalation delivery system (EDS) to administer a topically-acting corticosteroid. This therapy is approved for treating chronic rhinosinusitis when accompanied by nasal polyps and is currently undergoing Phase IIIb clinical trials for broader chronic sinusitis treatment. The company also offers Onzetra Xsail, a powder-based EDS device, which is commercialized via a licensing agreement with Currax Pharmaceuticals LLC. Further expanding its pipeline, OptiNose is developing OPN-019, an investigational product that integrates a liquid EDS device with an antiseptic agent. Additionally, OptiNose has formed a partnership with Inexia Limited. This collaboration centers on the development, manufacturing, importation, and sale of products containing orexin receptor agonist or positive modulator molecules, intended for the treatment, diagnosis, or prevention of human conditions predominantly linked to orexin receptor activity. Established in 2000, OptiNose, Inc. operates from its corporate headquarters in Yardley, Pennsylvania.
Sector: Pharmaceutical Preparations
Industry: Drug Manufacturers - Specialty & Generic
OptiNose, Inc.
NASDAQ:OPTNHealthcare · Drug Manufacturers - Specialty & Generic
Mkt Cap$97.22M
Float10.13M
O/S10.13M
Inst Own-
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$78.23M
Net Income-$21.54M
Total Assets$128.78M
Free Cash Flow-$44.75M
Debt & Equity
Debt 146%
Total Debt$128.96M
Total Equity-$40.36M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
2-year cumulative
1:15
Nasdaq bars a compliance period at 1:250
- 1:15Reverse splitDec 31, 202415 shares → 1
Balance Sheet Details
Assets$128.78M
Liabilities$169.15M
Accounts Receivable$26.39M
Accounts Payable$450K
Inventory$11.46M
PP&E (Net)$605K
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Revenue | $78.23M | $70.99M | $76.28M | $74.65M | $49.12M | $34.63M | $7.07M | $0 | $47.5M | $85K |
| YoY Growth | 10.2% | -6.9% | 2.2% | 52.0% | 41.8% | 390.2% | - | - | 55782.4% | - |
| Cost of Revenue | $7.23M | $8.63M | $9.26M | $9.15M | $7.52M | $5.29M | $1.59M | $0 | $0 | $0 |
| Gross Profit | $71M | $62.35M | $67.01M | $65.5M | $41.6M | $29.34M | $5.48M | -$164K | $47.5M | $85K |
| Gross Margin | 90.8% | 87.8% | 87.9% | 87.7% | 84.7% | 84.7% | 77.5% | - | 100.0% | 100.0% |
| Research and Development | $3.85M | $5.3M | $15.26M | $25.32M | $23.38M | $20.78M | $10.1M | $16.83M | $15.31M | $22.16M |
| Selling, General, and Administrative | $83.46M | $79.8M | $107.65M | $106.63M | $105.44M | $104.16M | $95.62M | $31.7M | $6.87M | $6.01M |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$372K | $0 | $0 |
| Total Operating Expenses | $87.31M | $85.1M | $122.91M | $131.95M | $128.82M | $124.94M | $105.72M | $48.53M | $22.18M | $28.16M |
| Operating Income (EBIT) | -$16.32M | -$22.75M | -$55.9M | -$66.45M | -$87.22M | -$95.6M | -$100.24M | -$48.53M | $25.32M | -$28.08M |
| Operating Margin | -20.9% | -32.0% | -73.3% | -89.0% | -177.6% | -276.1% | -1418.8% | - | 53.3% | -33031.8% |
| Interest Expense | $20.06M | $19.53M | $16.84M | $15.97M | $13.01M | $9.62M | $9.23M | $910K | $3.52M | $819K |
| Interest Income | $2.75M | $2.53M | $513K | $52K | $426K | $2.36M | $2.45M | $303K | $143K | $28K |
| Other Income (Expense) | -$5.22M | -$12.73M | -$18.94M | -$15.85M | -$12.57M | -$14.45M | -$6.42M | -$372K | -$2.71M | -$237K |
| Income Before Tax (EBT) | -$21.54M | -$35.48M | -$74.83M | -$82.3M | -$99.79M | -$110.05M | -$106.66M | -$48.9M | $22.61M | -$28.31M |
| Income Tax Expense | $0 | $0 | $0 | $0 | -$1.46M | $0 | $0 | -$164K | $0 | $0 |
| Net Income | -$21.54M | -$35.48M | -$74.83M | -$81.65M | -$98.33M | -$108.94M | -$106.66M | -$48.9M | $22.61M | -$28.31M |
| Net Income Margin | -27.5% | -50.0% | -98.1% | -109.4% | -200.2% | -314.6% | -1509.7% | - | 47.6% | -33310.6% |
| Supplementary Data | ||||||||||
| EPS | -2.12 | -0.32 | -13.05 | -1.44 | -2.04 | -2.60 | -2.68 | -1.46 | 0.36 | -4.29 |
| Diluted EPS | -2.12 | -0.32 | -13.05 | -1.44 | -2.04 | -2.60 | -2.68 | -1.46 | 0.85 | -4.29 |
| Weighted Average OS | 10.16M | 112.08M | 5.73M | 56.85M | 48.27M | 41.88M | 39.77M | 33.47M | 2.72M | 26.72M |
| EBITDA | -$1.2M | -$15.55M | -$57.46M | -$65.68M | -$85.32M | -$99.32M | -$96.89M | -$48.36M | $25.4M | -$27.42M |
| EBITDA Margin | -1.5% | -21.9% | -75.3% | -88.0% | -173.7% | -286.8% | -1371.4% | - | 53.5% | -32258.8% |
Balance Sheet
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Assets | ||||||||||
| Current Assets | ||||||||||
| Cash and Cash Equivalents | $84.48M | $73.68M | $94.24M | $110.5M | $144.16M | $147.14M | $200.99M | $234.85M | $36.8M | $15.2M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $84.48M | $73.68M | $94.24M | $110.5M | $144.16M | $147.14M | $200.99M | $234.85M | $36.8M | $15.2M |
| Accounts Receivable | $26.39M | $19.93M | $33.93M | $35.45M | $23.39M | $13.64M | $2.55M | $46K | $2.42M | $448K |
| Inventory | $11.46M | $8.05M | $9.44M | $11.85M | $9.04M | $3.48M | $7.13M | $2.01M | $1.2M | $0 |
| Other Current Assets | $3.5M | $0 | $2.87M | $0 | $0 | $0 | $242K | $0 | $0 | $171K |
| Total Current Assets | $125.84M | $105.33M | $140.48M | $160.38M | $180.65M | $168.06M | $212.86M | $234.85M | $40.67M | $15.82M |
| Long-Term Assets | ||||||||||
| Property, Plant & Equipment Net | $605K | $2.29M | $795K | $1.35M | $2.03M | $3.05M | $3.88M | $2.56M | $323K | $191K |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $2.34M | $109K | $2.94M | $4.34M | $42.63M | $22.45M | $12.12M | $3.72M | $553K | $1K |
| Total Long-Term Assets | $2.94M | $2.4M | $3.74M | $5.69M | $44.66M | $25.51M | $16M | $6.28M | $876K | $192K |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $128.78M | $107.73M | $144.22M | $166.07M | $188.81M | $172.65M | $216.99M | $241.14M | $41.55M | $16.01M |
| Liabilities | ||||||||||
| Current Liabilities | ||||||||||
| Accounts Payable | $450K | $3.89M | $5.29M | $8.01M | $5.49M | $3.63M | $7.12M | $5.89M | $3.37M | $3.51M |
| Short-Term Debt | $126.48M | $130.23M | $128.57M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $160K | $186K | $0 | $41K |
| Other Current Liabilities | $28.94M | $34.7M | $35.01M | $41.56M | $0 | $0 | $13.86M | $0 | $0 | $0 |
| Total Current Liabilities | $162.81M | $176.52M | $178.73M | $59.23M | $52.17M | $36.14M | $25.7M | $14.78M | $5.91M | $7.19M |
| Long-Term Liabilities | ||||||||||
| Long-Term Debt | $0 | $0 | $0 | $126.42M | $125.2M | $74.53M | $72.5M | $71.86M | $15.26M | $14.48M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $5.1M | $17.2M | $21.49M | $0 | $490K | $397K | $181K | $0 | $24.22M | $21.48M |
| Total Long-Term Liabilities | $6.33M | $17.81M | $22.12M | $128.61M | $129.85M | $74.93M | $72.68M | $71.86M | $39.48M | $35.96M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $169.15M | $194.34M | $200.85M | $187.84M | $182.03M | $111.07M | $98.38M | $86.64M | $45.39M | $43.16M |
| Stockholders' Equity | ||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $147.36M | $155.06M |
| Common Stock | $10K | $112K | $111K | $82K | $53K | $46K | $41K | $38K | $4K | $4K |
| Retained Earnings | -$741.92M | -$720.38M | -$684.89M | -$610.06M | -$527.76M | -$427.98M | -$317.93M | -$211.27M | -$151.1M | -$161.25M |
| Comprehensive Income & Other | -$84K | -$84K | -$84K | -$81K | -$85K | -$48K | -$57K | -$111K | -$99K | -$141K |
| Other Stockholders' Equity | $701.55M | $633.66M | $628.16M | $588.21M | $534.5M | $489.52M | $436.5M | $365.73M | $147.26M | $134.1M |
| Total Equity | -$40.36M | -$86.61M | -$56.62M | -$21.77M | $6.79M | $61.58M | $118.61M | $154.5M | -$3.84M | -$27.15M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $128.78M | $107.73M | $144.22M | $166.07M | $188.81M | $172.65M | $216.99M | $241.14M | $41.55M | $16.01M |
| Supplementary Data | ||||||||||
| Total Debt | $128.96M | $131.75M | $131.17M | $130.7M | $131.47M | $74.53M | $72.5M | $71.86M | $15.26M | $14.48M |
| Net Debt | $44.48M | $58.06M | $36.93M | $20.2M | -$18.95M | -$72.61M | -$128.49M | -$162.99M | -$21.54M | -$718K |
Cash Flow Statement
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Operating Activities | ||||||||||
| Net Income | -$21.54M | -$35.48M | -$74.83M | -$82.3M | -$99.78M | -$110.05M | -$106.66M | -$48.9M | $22.61M | -$28.31M |
| Depreciation & Amortization | $283K | $402K | $532K | $646K | $1.46M | $1.11M | $539K | $164K | $83K | $75K |
| Deferred Income Tax | $0 | $0 | $0 | -$300K | $677K | $7.16M | $0 | $2K | $0 | $0 |
| Stock-Based Compensation | $6.46M | $5.2M | $8.88M | $10M | $10.35M | $9.86M | $8.54M | $5.1M | $599K | $588K |
| Changes in Working Capital: | ||||||||||
| Accounts Receivable | -$6.47M | $14.01M | $1.52M | -$11.82M | -$10.43M | -$11.33M | -$2.31M | $8.56M | $65K | $144K |
| Inventory | -$3.41M | $1.28M | $2.49M | -$2.71M | -$5.43M | $3.76M | -$4.7M | -$2.01M | $0 | $0 |
| Accounts Payable | -$3.44M | -$1.41M | -$2.72M | $2.56M | $2.2M | -$3.86M | $3.17M | $392K | -$130K | $450K |
| Other Working Capital | -$6.5M | -$1.9M | -$7.04M | $5.19M | $13.56M | $11.89M | $9.19M | $854K | -$2.29M | -$1.85M |
| Total Working Capital Change | -$19.81M | $11.98M | -$5.76M | -$6.78M | -$96K | $457K | $5.36M | $7.79M | -$2.35M | -$1.26M |
| Other Non-Cash Items | -$10.28M | -$2.63M | $3.53M | $1.79M | $1.19M | $658K | $404K | $198K | $776K | $195K |
| Net Cash from Operating | -$44.89M | -$20.53M | -$67.65M | -$76.94M | -$86.21M | -$90.81M | -$91.82M | -$35.65M | $21.72M | -$28.71M |
| Investing Activities | ||||||||||
| Capital Expenditures | -$72K | -$328K | -$63K | -$167K | -$546K | -$557K | -$1.69M | -$2.41M | -$215K | -$80K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $105K | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$72K | -$328K | -$63K | -$62K | -$546K | -$557K | -$1.69M | -$2.41M | -$215K | -$80K |
| Financing Activities | ||||||||||
| Debt Repaid | - | - | - | - | -$50M | $2.58M | - | -$75M | - | -$14.29M |
| Common Stock Issuance | $55.48M | $300K | $51.09M | $43.14M | $33.6M | $41.44M | $63.97M | $138M | $55K | $4.84M |
| Common Stock Repurchases | $0 | $299K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $76K | $300K | $350K | $180K | $210K | $40.11M | -$4.39M | -$13.59M | $55K | -$162K |
| Net Cash from Financing | $55.55M | $300K | $51.44M | $43.32M | $83.81M | $37.53M | $59.58M | $236.13M | $55K | $19.12M |
| Forex Effect | $0 | $0 | $7K | $13K | -$44K | -$3K | $64K | -$11K | $39K | -$14K |
| Net Change in Cash | $10.8M | -$20.56M | -$16.27M | -$33.66M | -$2.99M | -$53.85M | -$33.86M | $198.06M | $21.6M | -$9.69M |
| Supplementary Data | ||||||||||
| Operating Cash Flow | -$44.89M | -$20.53M | -$67.65M | -$76.94M | -$86.21M | -$90.81M | -$91.82M | -$35.65M | $21.72M | -$28.71M |
| Capital Expenditure | -$72K | -$328K | -$63K | -$167K | -$546K | -$557K | -$1.69M | -$2.41M | -$215K | -$80K |
| Free Cash Flow | -$44.75M | -$20.86M | -$67.71M | -$77.1M | -$86.75M | -$91.37M | -$93.51M | -$38.06M | $21.5M | -$28.79M |
| Cash at Beginning | $73.68M | $94.24M | $110.52M | $144.18M | $147.16M | $201.01M | $234.88M | $36.8M | $15.2M | $24.88M |
| Cash at End | $84.48M | $73.68M | $94.24M | $110.52M | $144.18M | $147.16M | $201.01M | $234.85M | $36.8M | $15.2M |