Company Overview of Intersect ENT, Inc.
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-eluting implants for patients undergoing sinus surgery to treat chronic sinusitis. The company was formerly known as Sinexus, Inc. and changed its name to Intersect ENT, Inc. in November, 2009. Intersect ENT, Inc. was founded in 2003 and is headquartered in Menlo Park, California.
1555 Adams Drive
Menlo Park, CA 94025
Founded in 2003
Key Executives for Intersect ENT, Inc.
Chief Executive Officer
Total Annual Compensation: $334.8K
Chief Operating Officer and Senior Vice President
Total Annual Compensation: $293.2K
Vice President of Sales
Total Annual Compensation: $154.5K
Compensation as of Fiscal Year 2013.
Intersect ENT, Inc. Key Developments
Intersect ENT, Inc. Presents at Canaccord Genuity 2014 Medical Technologies & Diagnostics Forum, Nov-20-2014 02:30 PM
Nov 6 14
Intersect ENT, Inc. Presents at Canaccord Genuity 2014 Medical Technologies & Diagnostics Forum, Nov-20-2014 02:30 PM. Venue: The Westin Grand Central, New York, New York, United States.
Intersect ENT, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Revised Revenue Guidance for 2014
Nov 5 14
Intersect ENT, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. Revenue for the three months ended September 30, 2014 increased by 113% to $9.1 million from $4.3 million in the same period in 2013. This increase is attributable to higher unit sales via the acquisition of new accounts and driving adoption with existing customers. Gross margin for the third quarter of 2014 was 72%, up from 66% in the three months ended September 30, 2013. This increase in gross margin was due primarily to spreading the company's manufacturing costs over higher production volumes. Net loss for the third quarter of 2014 was $5.885 million or $0.32 per basic and diluted share, compared to $4.099 million or $2.39 per basic and diluted share for the third quarter of 2013. Loss from operations was $5.901 million against $3.936 million a year ago.
For the nine months, the company reported revenue of $25.162 million against $10.959 million a year ago. Loss from operations was $14.422 million against $13.521 million a year ago. Net loss was $14.676 million or $2.00 per basic and diluted share against net loss of $13.737 million or $10.08 per basic and diluted share a year ago.
Looking forward, the company remain on track on its -- to deliver on its previously stated revenue guidance for 2014 of $35 million to $37 million and now believe it will come in at the upper end of that range. Supporting this outlook, the company expects to continue to expand usage in new and current accounts, while benefiting from the higher rate of surgical procedures that have seen in previous end-of-the-year periods. The company has also guided to a gross margin of 70% to 72% for 2014 and expect to deliver at the top end of this range as well. The company continues to expect 2014 operating expenses to fall between $46 million to $48 million.
Intersect Mulls Acquisitions
Nov 5 14
Intersect ENT, Inc. (NasdaqGM:XENT) intends to pursue acquisitions. "Our growth continues to be driven by both the acquisition of new accounts as well as a strong recurring business. In fact, over 75% of our business comes from reordering customers," Lisa Earnhardt, President and Chief Executive Officer, said.
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