BUZZ-H.C. Wainwright raises OptiNose PT on nasal spray prospects

Reuters
01-03
BUZZ-H.C. Wainwright raises OptiNose PT on nasal spray prospects

** Brokerage H.C. Wainwright raises PT on drug developer OptiNose OPTN.O to $18 from $5, maintains "buy" rating

** New PT is a 168.7% upside to the stock's Thursday close

** On Dec. 26, 2024, OPTN announced 1-for-15 reverse stock split, citing the need to meet Nasdaq's minimum bid price requirement

** Brokerage says co's nasal spray, Xhance, provides a "differentiated" fluticasone propionate treatment for chronic rhinosinusitis $(CRS)$ patients

** CRS is a long-term sinus and nasal passage inflammation caused by infections or nasal polyps

** Brokerage says "targeted education and commercial efforts" needed to increase Xhance adoption among ENT and allergy specialists

** Current focus is on 3 mln CRS patients treated by ENT and allergy specialists, with potential to reach 7 mln in primary care and 20 mln overall in the U.S. - H.C. Wainwright

** Brokerage forecasts OPTN's 2024 net revenue at $77.3 mln

** OPTN declined 64.4% in 2024

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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