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

November 1, 2019 By Brad Perriello

Intersect ENT updatedIntersect 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.

Filed Under: Featured, MassDevice Earnings Roundup Tagged With: Intersect ENT Inc.

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