Expanded Access to XHANCE with Addition to National Commercial Formularies

Rhea-AI Summary

Optinose (NASDAQ: OPTN) has announced the addition of their drug XHANCE® (fluticasone propionate) to Express Scripts' national formularies, including National Preferred, Flex, and Basic. This inclusion potentially increases access for over 24 million people. XHANCE is unique as the only medication approved for treating chronic rhinosinusitis without nasal polyps. CEO Ramy Mahmoud emphasizes the recent FDA approval and landmark studies highlighting XHANCE's effectiveness. Chronic sinusitis affects around 30 million adults in the U.S., making this expansion significant for patient treatment options.

Positive

• XHANCE added to Express Scripts’ national formularies, increasing access for over 24 million people.
• First controlled trial program demonstrating significant improvement in symptoms and inflammation for chronic sinusitis.

Negative

• None.

Pharmaceutical Market Analyst

The inclusion of XHANCE in the national formularies of Express Scripts significantly expands its market reach, positioning it as a preferred option for treating chronic rhinosinusitis. It’s essential to understand that formularies influence which medications are covered by insurance plans, thereby impacting patient access and prescription rates. Being included in such a large formulary (covering over 24 million lives) can potentially translate into increased sales volume and market penetration for Optinose.

From a financial perspective, this development could positively affect Optinose's revenue streams, given the broad insurance coverage and reduced out-of-pocket costs for patients. However, the actual revenue impact will depend on the company’s execution of their marketing and sales strategies, as well as the competitive landscape. This move, coupled with the recent FDA approval, positions Optinose well in a market with substantial unmet needs.

Clinical Research Analyst

Chronic rhinosinusitis affects about 30 million adults in the U.S. and the breakthrough studies conducted by Optinose validate XHANCE as a significant treatment option. The ReOpen clinical trials demonstrated distinct improvements in both symptoms and sinus inflammation, irrespective of the presence of nasal polyps. This positions XHANCE as a versatile treatment in a clinical setting, distinguishing it from other medications that might not have such broad efficacy.

Moreover, the trials showed a reduction in acute exacerbations, which may lead to fewer emergency visits and better overall disease management for patients. The recent FDA approval further underscores its clinical validity. Therefore, the addition of XHANCE to the Express Scripts formularies enhances its credibility and accessibility, potentially leading to its broader adoption among ENT and allergy specialists.

YARDLEY, Pa., June 27, 2024 (GLOBE NEWSWIRE) -- Optinose (NASDAQ:OPTN), a pharmaceutical company focused on patients treated by ear, nose and throat (ENT) and allergy specialists, today announced that XHANCE^® (fluticasone propionate) has been added to Express Scripts’ national formularies, including the National Preferred, Flex, and Basic formularies, among the largest commercial formularies in the U.S. with more than 24 million lives.

“XHANCE is approved for treatment of chronic rhinosinusitis and, importantly, is the only medication approved for by far the most common type - without nasal polyps, so we are very pleased that Express Scripts has added XHANCE as a preferred option to these formularies,” said Ramy Mahmoud, MD, MPH, CEO of Optinose. “Our recently published landmark studies in chronic sinusitis, and the recent FDA approval, mark a breakthrough for doctors and patients who want safe and effective treatment for one the most common diagnoses in adult outpatient medicine. We look forward to seeing the addition of XHANCE to these Express Scripts national formularies result in increased patient access to the only evidence-based prescription treatment for this disease.”

Chronic sinusitis (also referred as chronic rhinosinusitis) affects approximately 30 million adults in the United States. Research shows that the disease impairs quality of life to a similar degree as other serious chronic conditions, such as chronic obstructive pulmonary disease, sciatica, or migraine. The ReOpen clinical trial program was the first ever controlled trial program we are aware of to demonstrate significant improvement in both symptoms and inflammation inside the sinuses for patients with chronic sinusitis, regardless of whether nasal polyps are present, and to demonstrate significant reduction in the number of acute exacerbations.¹

About Optinose
Optinose is a specialty pharmaceutical company focused on serving the needs of patients cared for by ear, nose and throat (ENT) and allergy specialists. To learn more, please visit www.optinose.com or follow us on X and LinkedIn.

About XHANCE
XHANCE is a drug-device combination product that uses the Exhalation Delivery System™ (also referred to as the EDS^®) designed to deliver a topical steroid to the high and deep regions of the nasal cavity where sinuses ventilate and drain. XHANCE is approved by the U.S. Food and Drug Administration for both the treatment of chronic rhinosinusitis without nasal polyps (also called chronic sinusitis) and chronic rhinosinusitis with nasal polyps (also called nasal polyps) in patients 18 years of age or older.

IMPORTANT SAFETY INFORMATION

CONTRAINDICATIONS: Hypersensitivity to any ingredient in XHANCE.

WARNINGS AND PRECAUTIONS:

• Local nasal adverse reactions, including epistaxis, erosion, ulceration, septal perforation, Candida albicans infection, and impaired wound healing, can occur. Monitor patients periodically for signs of possible changes on the nasal mucosa. Avoid use in patients with recent nasal ulcerations, nasal surgery, or nasal trauma until healing has occurred.
• Glaucoma and cataracts may occur with long-term use. Consider referral to an ophthalmologist in patients who develop ocular symptoms or use XHANCE long-term.
• Hypersensitivity reactions (e.g., anaphylaxis, angioedema, urticaria, contact dermatitis, rash, hypotension, and bronchospasm) have been reported after administration of fluticasone propionate. Discontinue XHANCE if such reactions occur.
• Immunosuppression and infections can occur, including potential increased susceptibility to or worsening of infections (e.g., existing tuberculosis; fungal, bacterial, viral, or parasitic infection; ocular herpes simplex). Use with caution in patients with these infections. More serious or even fatal course of chickenpox or measles can occur in susceptible patients.
• Hypercorticism and adrenal suppression may occur with very high dosages or at the regular dosage in susceptible individuals. If such changes occur, discontinue XHANCE slowly.
• Assess for decrease in bone mineral density initially and periodically thereafter.

ADVERSE REACTIONS:

• Chronic rhinosinusitis without nasal polyps: The most common adverse reactions (incidence ≥3%) are epistaxis, headache, and nasopharyngitis.
• Chronic rhinosinusitis with nasal polyps: The most common adverse reactions (incidence ≥3%) are epistaxis, nasal septal ulceration, nasopharyngitis, nasal mucosal erythema, nasal mucosal ulcerations, nasal congestion, acute sinusitis, nasal septal erythema, headache, and pharyngitis.

DRUG INTERACTIONS: Strong cytochrome P450 3A4 inhibitors (e.g., ritonavir, ketoconazole): Use not recommended. May increase risk of systemic corticosteroid effects.

USE IN SPECIFIC POPULATIONS: Hepatic impairment. Monitor patients for signs of increased drug exposure.
Please see full Prescribing Information, including Instructions for Use

References

1. James N. Palmer, Nithin D. Adappa, Rakesh K. Chandra, Greg E. Davis, Mahboobeh Mahdavinia, John Messina, Randall A. Ow, Zara M. Patel, Anju T. Peters, Harry Sacks, Rodney J. Schlosser, Raj Sindwani, Zachary M. Soler, Andrew A. White, Sarah K. Wise, Ramy A. Mahmoud, Efficacy of EDS-FLU for Chronic Rhinosinusitis: Two Randomized Controlled Trials (ReOpen1 and ReOpen2), The Journal of Allergy and Clinical Immunology: In Practice, Volume 12, Issue 4, 2024, Pages 1049-1061, ISSN 2213-2198, https://doi.org/10.1016/j.jaip.2023.12.016. (https://www.sciencedirect.com/science/article/pii/S221321982301365X)
   

Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements that are not historical facts are hereby identified as forward-looking statements for this purpose and include, among others, statements relating to the benefits of XHANCE for the treatment of chronic sinusitis (also called chronic rhinosinusitis) with and without nasal polyps; the potential for XHANCE to become a preferred option for the treatment of chronic sinusitis; the benefits of XHANCE being added to the Express Scripts’ national formularies; the benefits of the Exhalation Delivery System; and other statements regarding the Company's future operations, prospects, objectives, and other future events. Forward-looking statements are based upon management’s current expectations and assumptions and are subject to a number of risks, uncertainties and other factors that could cause actual results and events to differ materially and adversely from those indicated by such forward-looking statements including, among others: physician and patient acceptance of XHANCE for its new indication (treatment of adults with chronic rhinosinusitis without nasal polyps); the Company’s ability to maintain adequate third party reimbursement for XHANCE (including its new indication); potential for varying interpretation of clinical trial results of XHANCE; the prevalence of chronic sinusitis and market opportunities for XHANCE may be smaller than the Company expects; and the risks, uncertainties and other factors discussed under the caption "Item 1A. Risk Factors" and elsewhere in our most recent Form 10-K and Form 10-Q filings with the Securities and Exchange Commission - which are available at www.sec.gov. As a result, you are cautioned not to place undue reliance on any forward-looking statements. Any forward-looking statements made in this press release speak only as of the date of this press release, and we undertake no obligation to update such forward-looking statements, whether as a result of new information, future developments or otherwise.

Optinose Investor Contact
Jonathan Neely
jonathan.neely@optinose.com
267.521.0531

FAQ

What is the significance of XHANCE being added to Express Scripts' formularies for OPTN?

The addition of XHANCE to Express Scripts' national formularies, including National Preferred, Flex, and Basic, expands access to over 24 million people, potentially boosting OPTN's market reach and sales.

What is XHANCE approved for?

XHANCE is approved for the treatment of chronic rhinosinusitis, particularly for the most common type without nasal polyps. It is the only medication with this approval.

How does chronic sinusitis impact adults in the U.S.?

Chronic sinusitis affects approximately 30 million adults in the U.S., impairing quality of life similarly to chronic conditions like COPD, sciatica, or migraine.

What were the outcomes of the ReOpen clinical trial program for XHANCE?

The ReOpen clinical trial program demonstrated significant improvements in symptoms and inflammation in chronic sinusitis patients and a reduction in acute exacerbations, regardless of the presence of nasal polyps.

How does the inclusion in Express Scripts' formularies impact patient access?

The inclusion in Express Scripts' formularies significantly increases patient access to XHANCE, the only evidence-based prescription treatment for chronic rhinosinusitis without nasal polyps.