OptiNose, Inc. (NASDAQ:OPTN) Q2 2020 Earnings Conference Call - Final Transcript

Aug 04, 2020 • 08:00 am ET


OptiNose, Inc. (NASDAQ:OPTN) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning, ladies and gentlemen, and welcome to the OptiNose Q2 2020 Earnings Call. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to turn the conference over to your host, Mr. Jonathan Neely, VP of Investor Relations.

Jonathan Neely

Good morning, and thank you for joining us today as we review OptiNose's second quarter 2020 performance and our plans for the year ahead. I'm joined today by our CEO, Peter Miller; our President and Chief Operating Officer, Ramy Mahmoud; our Chief Commercial Officer, Vic Clavelli; and our CFO, Keith Goldan. The slides that will be presented on this call can be viewed on our website, optinose.com, in the Investors section.

Before we start, I would like to remind you that our discussions during this conference call will include forward-looking statements. All statements that are not historical facts are hereby identified as forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those indicated by such statements. Additional information regarding these factors and forward-looking statements is discussed under the cautionary note on Forward-Looking Statements section of the earnings release that we issued today, as well as under the Risk Factors section and elsewhere of OptiNose's most recent Form 10-K and Form 10-Q that are filed with the SEC and available at their website sec.gov and on our website at optinose.com. You are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements during this conference call speak only as of the original date of this call or any earlier date indicated in such statement, and we undertake no obligation to update or revise any of these statements.

We will now make prepared remarks, and then we will move to a question-and-answer session.

With that, I will now turn the call over to Peter Miller. Peter? Thanks very much, Jonathan, and good morning, everybody. We appreciate you joining us for our second-quarter update. To start, I would like to commend and thank everybody on the Optinose team for the outstanding job this quarter. We moved rapidly to adapt our business to an environment reshaped by the coronavirus pandemic and continue to drive the growth of XHANCE. While there will likely be continuing challenges related to COVID-19, our performance this quarter continues to reinforce my belief that this team is well on the way to delivering on the promise of XHANCE, and I feel stronger than ever about our ability to build a very successful business. Starting on Slide 3. We'll go into more detail in a moment, but I'd like to start by providing five key takeaways from today's presentation. First, we believe XHANCE demonstrated remarkable resiliency as we successfully adapted our COVID -- our business to the COVID-19 environment. XHANCE prescription volume continue to grow in the second quarter, which was impressive, given the major disruptions to patient volumes and care pathways. Total prescriptions grew 84% year-over-year and quarter-over-quarter prescriptions grew 11%, and we continue to see