Optinose chief legal officer sells shares worth $1,380

YARDLEY, PA— OptiNose , Inc. (NASDAQ:OPTN), a pharmaceutical company with a market capitalization of $56 million, saw its Chief Legal Officer and Corporate Secretary, Michael F. Marino III, recently sell a portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Marino sold 246 shares of OptiNose common stock on March 18 at a price of $5.61 per share, totaling $1,380. The stock has declined over 77% in the past year, according to InvestingPro data.

The transaction was not a discretionary trade; it was executed to cover tax withholding obligations related to the vesting of restricted share units, as mandated by the issuer’s award agreement under its equity incentive plan. Following the sale, Marino retains ownership of 55,038 shares in the company. InvestingPro analysis indicates the stock is currently undervalued, with 8 additional key insights available to subscribers.

OptiNose, a pharmaceutical company based in Yardley, Pennsylvania, continues to focus on developing and commercializing innovative products for patients with ear, nose, and throat conditions. The company maintains impressive gross profit margins of 90% and is scheduled to report earnings on March 20.

In other recent news, Optinose reported preliminary unaudited net product revenue of $22.4 million for the fourth quarter of 2024, aligning with previous company guidance. This reflects an estimated 20% sequential growth in XHANCE prescriptions from the third to the fourth quarter. The company plans to release comprehensive financial results in March, cautioning that these figures are subject to change upon final review. Additionally, Optinose has implemented a 1-for-15 reverse stock split to meet Nasdaq’s minimum bid price requirement, reducing outstanding shares from approximately 150.8 million to 10.1 million. This corporate action was approved by shareholders and aims to ensure compliance with Nasdaq listing standards.

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 while maintaining a Buy rating. The reverse split will not alter the number of authorized shares or their par values. Shareholders with fractional shares will receive a cash payment based on the closing stock price. Optinose’s strategic focus remains on treatments for ear, nose, and throat conditions, with continued optimism about its commercial performance.

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