Intersect ENT’s Q3 beats on sales, misses on earnings

Intersect ENT (NSDQ:XENT) this morning posted wider-than-expected losses but topped the consensus sales estimate with its third-quarter results.

Menlo Park, Calif.-based Intersect reported losses of -$12.8 million, or -41¢ per share, on sales of $24.1 million for the three months ended Sept. 30, widening its losses by 69.1% on a -2.5% sales decline compared with Q3 2018.

Analysts on Wall Street were looking for losses per share of -40¢ on sales of $23.8 million.

Intersect ENT said it still expects 2019 sales to be roughly flat flat compared with the $108.5 million it put up last year.

XENT shares closed down -1.9% at $17.82 apiece yesterday.

Earlier this month the company failed to meet the primary endpoint in a study of its Ascend investigational drug-coated sinus balloon.