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Intersect ENT (Nasdaq: XENT) announced that CMS has published an average selling price (ASP) for the SINUVA sinus implant, enhancing reimbursement predictability for providers. CMS created a distinct code for SINUVA (J7402) and consolidated coding, improving claims accuracy and expanding access for patients. The company expects these changes will simplify reimbursement processes and clarify coverage for SINUVA and its PROPEL product line. SINUVA is a non-surgical implant proven to treat nasal polyps effectively, helping reduce the need for revision surgery.
Intersect ENT, Inc. (Nasdaq: XENT) will release its fourth quarter and full year 2020 financial results on March 9, 2021, at approximately 7:00 a.m. ET. A conference call will be held at 8:30 a.m. ET, accessible via phone and internet. Intersect ENT specializes in ENT medical technology, focusing on steroid-releasing implants to improve patient care. The company recently acquired Fiagon AG Medical Technologies, enhancing its product offerings and geographic reach.
Intersect ENT, Inc. (Nasdaq: XENT) announced the U.S. launch of the new Straight Delivery System (SDS) packaged with the PROPEL Mini (mometasone furoate) Sinus Implant, following FDA premarket approval. The SDS is designed for precise delivery of PROPEL Mini into the ethmoid sinus. Both the SDS and the original curved delivery system will be available for physicians. This launch reflects the company's commitment to enhancing care for chronic sinusitis patients, with insights from medical professionals highlighting its anticipated utility in procedures.
Intersect ENT (Nasdaq: XENT) announced that CEO Tom West and CFO Randy Meier will participate in two upcoming investor conferences. The BTIG Virtual MedTech, Digital Health, Life Science & Diagnostic Tools Conference will feature a fireside chat on February 17, 2021, at 11:30 a.m. ET. This will be followed by a fireside chat at the SVB Leerink Virtual 10th Annual Global Healthcare Conference on February 26, 2021, at 1:00 p.m. ET. A live webcast can be accessed via their website, where a replay will also be available after each event.
Intersect ENT announces CMS approval of revised coding for its PROPEL sinus implants, allowing for separate billing codes for PROPEL and SINUVA products. The new codes, effective April 1, 2021, enhance claims adjudication accuracy and clarify reimbursement processes for both products. The CEO emphasized that this change will improve payer clarity and support the growth strategy of Intersect ENT’s proprietary drug-eluting technology. The PROPEL family of implants is FDA-approved for maintaining sinus patency and delivering steroids post-surgery, demonstrating proven clinical benefits for chronic sinusitis patients.
Intersect ENT, Inc. (Nasdaq: XENT) has reported preliminary fourth quarter 2020 revenues between $27.7 million and $28.1 million. Key highlights include SINUVA's revenues of approximately $2.5 million and the launch of VENSURE sinus balloon dilation, delivering about $0.3 million. The company holds around $105 million in cash and equivalents as of December 31, 2020. Looking ahead, Intersect ENT anticipates revenue growth in 2021 compared to 2019, despite uncertainties from COVID-19.
Intersect ENT, a leader in ENT medical technology, announced participation in the 39th Annual J.P. Morgan Healthcare Conference. Management, including CEO Tom West and CFO Randy Meier, will present on January 12, 2021, at 5:00 p.m. ET. A live webcast will be available on their website, with a replay following the event.
Intersect ENT specializes in steroid-releasing implants for targeted therapy and has expanded its product portfolio through the acquisition of Fiagon AG Medical Technologies, enhancing its market presence.
Intersect ENT, Inc. (Nasdaq: XENT) announced the appointments of Patrick Broderick as Executive Vice President, General Counsel, and Reyna Fernandez as Chief Human Resource Officer, effective November 30, 2020. Tom West, President and CEO, expressed confidence in their capabilities, emphasizing Broderick's extensive legal experience and Fernandez's human resources expertise. Broderick brings over 30 years of experience from Grail, Inc. and McKesson Corporation, while Fernandez previously served at Endologix. Their leadership aims to enhance Intersect ENT's strategic vision and operational effectiveness.
Intersect ENT (XENT) reported third quarter 2020 revenue of $22.7 million, down from $24.1 million in Q3 2019, primarily due to the impact of COVID-19. PROPEL® product sales reached $21.1 million, while SINUVA® achieved record revenue of $1.7 million, up 53% year-over-year. Despite a net loss of $11.5 million or $0.35 per share, the company maintains a strong cash position of $130.7 million. Looking ahead, XENT withdrew its annual guidance but anticipates fourth-quarter revenue to be 85% to 90% of Q4 2019 levels.
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