Intersect ENT sees jump in revenue for Sinuva treatment, overall dip in revenue during Q3

Carly Behm - Print  |


Menlo Park, Calif.-based Intersect ENT shared its third-quarter financial results in a Nov. 2 press release. Here are five takeaways:

1. The company saw $22.7 million in revenue, a dip from $24.1 million during the same period last year.
2. Revenue for the company's Propel family of products was $21.1 million.
3. Sinuva, a nasal polyp treatment, saw $1.7 million in revenue, which is an increase of 53 percent from the same period last year.
4. The company saw a net loss of $11.5 million in the third quarter, or $0.35 per share, compared to $12.8 million in the third quarter last year. Adjusted net loss was $11 million, or $0.34 per share.
5. The company withdrew its annual guidance for 2020 due to the COVID-19 pandemic. It expects fourth-quarter revenue to be 85 percent to 90 percent compared to the fourth quarter of 2019. The company expects to have adequate capital to operate through 2022.

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