Recent Business Highlights
October 2017, the company announced the presentation of the results of RESOLVE II, a pivotal phase III study evaluating the safety and efficacy of SINUVA™, an investigational steroid releasing sinus implant, at the 4th Congressof European ORL-HNS in Barcelona, Spain, by Robert C. Kern, M.D., Chairman of Otolaryngology – Head and Neck Surgery at Northwestern University Feinberg School of Medicine.
September 2017, the company announced the presentation of a meta-analysis from two randomized studies evaluating the safety and efficacy of SINUVA at the American Rhinologic Society’s Annual Meeting in Chicagoby J. Pablo Stolovitzky, M.D., of ENT of Georgia.
Third Quarter Financial Results
Total revenue grew to
Gross profit for the third quarter of 2017 was
Operating expenses for the third quarter of 2017 were
Cash, cash equivalents and short-term investments totaled $102.5 million as of September 30, 2017.
The company’s revenue outlook for the fourth quarter 2017 is in the
Webcast and Conference Call Information
Intersect ENT will host a conference call today at 4:30 p.m. ET to discuss the company’s third quarter 2017 results and business outlook. To access the conference call via the internet, go to the "Investor Relations" page of the company's web site at www.intersectENT.com. To access the live conference call via phone, dial 1-844-850-0548 and ask to join the Intersect ENT call. International callers may access the live call by dialing 1-412-317-5205. Participants may expedite telephone access by pre-registering for the call using the following link: http://dpregister.com/10113313.
A replay of the conference call may be accessed that same day after 8:00 p.m. ET at www.intersectENT.com or via phone at 1-877-344-7529 or 1-412-317-0088 for international callers. The reference number to enter the replay of the call is 10113313. The dial-in replay will be available for a week after the call and via the internet for approximately one month.
About Intersect ENT
For additional information on the company or the products, including risks and benefits, please visit www.IntersectENT.com.
The SINUVA steroid releasing implant has not been approved by the
The statements in this press release regarding Intersect ENT's continued
growth, financial outlook and product development are "forward-looking"
statements. These forward-looking statements are based on Intersect
ENT's current expectations and inherently involve significant risks and
uncertainties. These statements and risks include
|Intersect ENT, Inc.|
|Condensed Statements of Operations|
|(in thousands, except percentages and per share data)|
|Three Months Ended||Nine Months Ended|
|September 30,||September 30,|
|Cost of sales||3,808||2,788||10,376||9,115|
|Selling, general and administrative||18,746||17,905||57,747||53,093|
|Research and development||4,346||4,237||12,742||13,320|
|Total operating expenses||23,092||22,142||70,489||66,413|
|Loss from operations||(4,587||)||(6,462||)||(14,093||)||(21,051||)|
|Interest income and other, net||326||236||882||645|
|Net loss per share, basic and diluted||$||(0.15||)||$||(0.22||)||$||(0.46||)||$||(0.72||)|
Weighted average common shares used to compute net loss per share, basic and diluted
|Intersect ENT, Inc.|
|Condensed Balance Sheets|
|September 30,||December 31,|
|Cash, cash equivalents and short-term investments||$||102,498||$||103,945|
|Accounts receivable, net||11,680||14,421|
|Prepaid expenses and other current assets||1,576||1,313|
|Total current assets||124,482||125,292|
|Property and equipment, net||4,572||4,127|
|Other non-current assets||481||358|
|Liabilities and Stockholders' Equity|
|Other current liabilities||981||945|
|Total current liabilities||14,703||14,364|
|Deferred rent and other non-current liabilities||793||1,016|
|Total stockholders' equity||114,039||114,397|
|Total liabilities and stockholders' equity||$||129,535||$||129,777|
Intersect ENT, Inc.
Jeri Hilleman, 650-641-2105