When the 180-day lock-up period for OptiNose, Incorporated (OPTN) ends on April 11, 2018, the company’s pre-IPO shareholders and insiders will have the ability to sell large blocks of currently-restricted shares. The potential for an increase in the volume of shares traded on the secondary market could send OPTN’s stock price sharply lower in the short-term. More than 29 million shares of OPTN are subject to lock-up restrictions and just 7 million shares of OPTN are currently trading.

(29 million shares of OPTN are subject to lock-up restrictions)

(Source: S-1/A)

Currently, OPTN trades in the $20 to $21 range, slightly higher than its IPO price of $16. OPTN currently has a return from IPO of 25.1% (as of market close 3/29/18).

Business Overview: Specialty Pharmaceutical Targeting Treatments for ENT

OptiNose is a pharmaceutical company that specializes in developing and marketing treatments and products for ear, nose, and throat issues. Its leading product is XHANCE, which is a therapeutic nasal spray using the company’s proprietary delivery system that is powered by breath exhalation. It delivers an anti-inflammatory corticosteroid designed to alleviate chronic rhinosinusitus that may include nasal polyps. OptiNose has also commercialized AVP-825 for treatment of acute migraines in adults. It does this through a licensing agreement with Avanir Pharmaceuticals (Nasdaq:AVNR). OptiNose is exploring the use of XHANCE for chronic sinusitis; OPN-021 for the treatment of Parkinson disease and narcolepsy; and OPN-300 for use in patients with Prader-Willi syndrome, which is a rare genetically-based obesity disorder. OptiNose is also exploring the use of OPN-300 in patients with autism spectrum disorder. In addition, the company is developing other treatments such as leukotriene inhibitors, mucolytics, antihistimines, anticholinergics, and antibiotics.

(Source: S-1/A)

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