Optinose Announces Pricing of Initial Public Offering

YARDLEY, Pa., Oct. 12, 2017 -- OptiNose, Inc. (Optinose), a specialty pharmaceutical company focused on the development and commercialization of products for patients treated by ear, nose and throat (ENT) and allergy specialists, today announced the pricing of its initial public offering of 7,500,000 shares of common stock at a public offering price of $16.00 per share, before underwriting discounts, for total gross proceeds of $120,000,000. All of the shares are being offered by Optinose. In addition, Optinose has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of common stock at the initial public offering price, less the underwriting discount. The shares are scheduled to begin trading on the NASDAQ Global Select Market under the ticker symbol "OPTN" on Friday, October 13, 2017. The offering is expected to close on October 17, 2017, subject to the satisfaction of customary closing conditions.

Jefferies and Piper Jaffray are acting as the lead joint book-running managers of the offering. BMO Capital Markets and RBC Capital Markets are also acting as joint book-running managers for the offering.

A registration statement relating to the securities being sold in the offering was declared effective by the Securities and Exchange Commission on October 12, 2017. This offering is being made only by means of a prospectus. Copies of the final prospectus relating to this offering will be filed with the SEC and may be obtained, when available, from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2^nd Floor, New York, NY 10022, or by telephone at 877-821-7388 or by email at [email protected]; Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone at 800-747-3924 or by email at [email protected]; BMO Capital Markets Corp., Attention: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036, or by telephone at 800-414-3627 or by email at [email protected]; and RBC Capital Markets LLC, Attention: Equity Syndicate, 200 Vesey Street, 8^th Floor, New York, NY 10281-8098 or by telephone at 877-822-4089 or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Optinose

Optinose is a specialty pharmaceutical company on a mission to improve lives with a focus on patients cared for ear, nose and throat (ENT) or allergy specialists. The Company’s first two products rely on patented Exhalation Delivery Systems (EDS), which is capable of deep intranasal deposition of medication. These exhalation delivery systems enable the creation of products with the potential for meaningful new clinical benefits. Optinose developed its first product, Onzetra^® Xsail^® (sumatriptan nasal powder), through the completion of phase 3 and subsequently out-licensed the product to Ostuka Pharmaceutical Co., Ltd. Onzetra Xsail received FDA approval and was launched in the U.S. in 2016. The Company’s second product, XHANCE (fluticasone propionate) nasal spray, is approved for the treatment of nasal polyps in patients 18 years of age and older and is in development for the treatment of chronic sinusitis. We expect subsequent Optinose pipeline products will aim to serve the needs of patients treated by ENT and allergy specialists and are expected to include those using EDS and other technologies. The Company is also currently engaged in the early development of products for neurologic orphan diseases where the “nose-to-brain” application of an EDS may enable improved treatment. This includes OPN-300 (Prader-Willi Syndrome, Autism, others) and OPN-21 (narcolepsy and others). Optinose has corporate offices in the U.S., U.K. and Norway.

Optinose Media Contact

Kate Traynor, Sloane & Company
[email protected]
212.446.1871