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YARDLEY, PA—Spence Paul Jr., the Chief Commercial Officer of OptiNose , Inc. (NASDAQ:OPTN), a pharmaceutical company with a market capitalization of $53 million and impressive gross profit margins of 90%, recently sold shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. According to InvestingPro analysis, the stock has fallen nearly 80% over the past year. On March 4, Paul Jr. disposed of 1,223 shares at a price of $5.29 per share, totaling approximately $6,469.
This transaction was carried out to cover tax withholding obligations linked to the vesting of restricted share units. As noted in the filing, the sale was mandated by the issuer’s award agreement under its equity incentive plan and was not a discretionary trade by Paul Jr.
Following this transaction, Paul Jr. holds 32,647 shares of OptiNose. While InvestingPro data indicates the company is currently burning through cash quickly, their analysis suggests the stock may be undervalued at current levels.
In other recent news, Optinose reported a preliminary unaudited net product revenue of $22.4 million for the fourth quarter of 2024, aligning with its previous guidance and indicating a 20% sequential growth in XHANCE prescriptions. The company plans to release comprehensive financial results in March, with these preliminary figures subject to potential adjustments. Optinose also announced a 1-for-15 reverse stock split, effective December 31, 2024, to comply with Nasdaq’s minimum bid price requirement. This move reduced the number of outstanding shares from approximately 150.8 million to about 10.1 million, with fractional shares being compensated in cash.
In light of the reverse stock split, H.C. Wainwright analyst Matthew Caufield raised the price target for Optinose to $18.00 from $5.00, maintaining a Buy rating on the shares. This adjustment reflects the reduced share count and the company’s strategic focus on the ENT and allergy segment. Shareholder approval for the reverse stock split was obtained with a significant majority, aiming to increase the per-share trading price and attract institutional investors. The company has not provided additional commentary on the operational implications of the reverse stock split.
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