OptiNose Inc. (NASDAQ:OPTN) Q1 2023 Results Conference Call May 11, 2023 8:00 AM ET
Company Participants
Jonathan Neely - VP of IR and Business Operations
Ramy Mahmoud - CEO and Director
Conference Call Participants
Brandon Folkes - Cantor Fitzgerald
Operator
Good day, and thank you for standing by. Welcome to the OptiNose's First Quarter 2023 Earnings Conference Call. [Operator Instructions]
I would now like to hand the conference over to your speaker today, Jonathan Neely, Vice President, Investor Relations. Please go ahead.
Jonathan Neely
Good morning, and thank you for joining us today as we review OptiNose's first quarter 2023 performance and our plans for the remainder of the year. I'm joined today by our CEO, Dr. Ramy Mahmoud; and our Chief Commercial Officer, Paul Spence. The slides that will be presented on this call can be viewed on our website optinose.com in the Investors section.
Before we start, I would like to remind you that our discussions during this conference call will include forward-looking statements. All statements that are not historical facts are hereby identified as forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those indicated by such statements. Additional information regarding these factors and forward-looking statements is discussed under the cautionary note on forward-looking statements section of the earnings release that we issued today as well as under the risk factors section and elsewhere in Optinose's most recent Form 10-K and 10-Qs that are filed with the SEC and available at their website sec.gov and on our website at optinose.com.
You are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements during this conference call speak only as of the original date of this call or any earlier date indicated in such statement, and we undertake no obligation to update or revise any of these statements. We will now make prepared remarks and then we will move to a question-and-answer session.
With that, I will now turn the call over to Ramy.
Ramy Mahmoud
Great. Thank you, Jonathan, and thank you to everyone listening for joining us this morning. We appreciate you joining us for this first quarter update.
Starting on Slide 3, we'll go into more detail in a moment, but I'd like to highlight 3 key takeaways from today's presentation. First, we remain enthusiastic about the potential value of a first and only new indication to treat patients who have chronic sinusitis. Claims data suggests that CS is currently being diagnosed by healthcare providers approximately 10x more frequently than nasal polyps. In the current healthcare environment, where off-label use is increasingly constrained by payers, we believe the new indication could enable us to access a multifold larger patient audience and therefore drive significant growth.