Intersect ENT, Inc., a commercial stage drug-device company, provides therapeutic solutions for patients with ear, nose, and throat conditions in the United States. It offers PROPEL and PROPEL mini drug releasing implants for patients undergoing sinus surgery to treat chronic sinusitis. The company is also developing RESOLVE, a steroid releasing implant for refractory disease for the treatment of patients in the physician office setting; and NOVA, a steroid releasing implant to fit the ostia, or openings, of the dependent sinuses following enlargement of the sinuses. The company was formerly known as Sinexus, Inc. and changed its name to Intersect ENT, Inc. in November 2009. Intersect ENT, I...
1555 Adams Drive
Menlo Park, CA 94025
Founded in 2003
Intersect ENT, Inc. Announces FDA Approval of Additional Indication for PROPEL® Mini Sinus Implant
Mar 23 16
Intersect ENT, Inc. announced that the company has received approval from the U.S. Food and Drug Administration (FDA) for an expanded indication for the PROPEL® mini steroid releasing sinus implant to treat patients undergoing frontal sinus surgery. This expanded indication allows the company to market placement of PROPEL mini in the frontal sinuses, located behind the eyebrows. Previously, PROPEL mini was indicated solely for placement in the ethmoid sinuses, located just behind the bridge of the nose.
Intersect ENT, Inc. Announces Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2015; Provides Earnings Guidance for the Year 2016
Feb 23 16
Intersect ENT, Inc. announced unaudited earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported revenue of $18,791,000 compared to $13,425,000 a year ago. This increase is attributable to higher unit sales via the acquisition of new accounts and driving adoption with existing customers. Loss from operations was $5,849,000 compared to $3,656,000 a year ago. Net loss was $5,745,000 or $0.20 per basic and diluted share compared to $3,686,000 or $0.16 per basic and diluted share a year ago.
For the year, the company reported revenue of $61,593,000 compared to $38,587,000 a year ago. This increase is attributable to higher unit sales via acquisition of new accounts and expanded adoption by existing customers, and was supported by expansion of the company's sales force. Loss from operations was $26,940,000 compared to $18,078,000 a year ago. Net loss was $26,634,000 or $1.02 per basic and diluted share compared to $18,362,000 or $1.61 per basic and diluted share a year ago.
For the year 2016, the company expects to achieve $78 million to $80 million in revenue. This outlook is supported by several specific drivers of growth, including, first, increasing sales force tenure as reps gain maturity in their territory following the significant expansion its undertook last year. The company expects to continue to improve gross margin slightly, expecting to see 2016 gross margin at 80% to 81%, as the company expands to make growing product sales. Based on its financial guidance specifics, the company would expects a net use of cash during 2016, in the order of magnitude of about $25 million.
Intersect ENT, Inc. Appoints David Lehman as General Counsel
Feb 22 16
Intersect ENT, Inc. announced the appointment of David Lehman as general counsel. Mr. Lehman brings three decades of legal experience to Intersect ENT, most recently having served as general counsel and secretary for Thoratec Corporation, where he saw the company through tremendous growth and eventual sale to St. Jude Medical.