Avista Capital-backed Optinose Debuts IPO

10/12/17

YARDLEY, Pa., Oct. 12, 2017 (GLOBE NEWSWIRE) -- OptiNose, Inc. (Optinose), a specialty pharmaceutical company focused on the development and commercialization of products for patients treated by ear, nose and throat (ENT) and allergy specialists, today announced the pricing of its initial public offering of 7,500,000 shares of common stock at a public offering price of $16.00 per share, before underwriting discounts, for total gross proceeds of $120,000,000. All of the shares are being offered by Optinose. In addition, Optinose has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of common stock at the initial public offering price, less the underwriting discount. The shares are scheduled to begin trading on the NASDAQ Global Select Market under the ticker symbol "OPTN" on Friday, October 13, 2017. The offering is expected to close on October 17, 2017, subject to the satisfaction of customary closing conditions.

Jefferies and Piper Jaffray are acting as the lead joint book-running managers of the offering. BMO Capital Markets and RBC Capital Markets are also acting as joint book-running managers for the offering.

About Optinose

Optinose is a specialty pharmaceutical company on a mission to improve lives with a focus on patients cared for ear, nose and throat (ENT) or allergy specialists. The Company’s first two products rely on patented Exhalation Delivery Systems (EDS), which is capable of deep intranasal deposition of medication. These exhalation delivery systems enable the creation of products with the potential for meaningful new clinical benefits. Optinose developed its first product, Onzetra® Xsail® (sumatriptan nasal powder), through the completion of phase 3 and subsequently out-licensed the product to Ostuka Pharmaceutical Co., Ltd. Onzetra Xsail received FDA approval and was launched in the U.S. in 2016. The Company’s second product, XHANCE (fluticasone propionate) nasal spray, is approved for the treatment of nasal polyps in patients 18 years of age and older and is in development for the treatment of chronic sinusitis. We expect subsequent Optinose pipeline products will aim to serve the needs of patients treated by ENT and allergy specialists and are expected to include those using EDS and other technologies. The Company is also currently engaged in the early development of products for neurologic orphan diseases where the “nose-to-brain” application of an EDS may enable improved treatment. This includes OPN-300 (Prader-Willi Syndrome, Autism, others) and OPN-21 (narcolepsy and others). Optinose has corporate offices in the U.S., U.K. and Norway.

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