Delivering Innovation.

Where It’s Needed.

May 2018
Forward-Looking Statements
Certain statements in this presentation constitute “forward-looking statements” within
the meaning of the Securities Act of 1933, as amended (the “Securities Act”), and
Securities Exchange Act of 1934, as amended (“Exchange Act”), including, without
limitation, statements regarding our outlook for financial performance, sales force growth,
clinical studies, approval of new products and indications and the receipt of reimbursement
coverage. We intend these forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Securities Act and the Exchange
Act and are making this statement for purposes of complying with those safe harbor
provisions. These forward-looking statements reflect our current views about our plans,
intentions, expectations, strategies and prospects, which are based on the information
currently available to us and on assumptions we have made. Although we believe that our
plans, intentions, expectations, strategies and prospects as reflected in or suggested by those
forward-looking statements are reasonable, we can give no assurance that the plans,
intentions, expectations or strategies will be attained or achieved. Furthermore, actual results
may differ materially from those described in the forward-looking statements and will
be affected by a variety of risks and factors that are beyond our control, including those risks
and uncertainties discussed under “Risk Factors” in our 10-K filing dated February 28, 2018
and subsequent quarterly filings with the SEC. All information in this presentation is as of the
date of this presentation, and we undertake no duty to update this information unless required
by law.

1
Chronic Sinusitis: Significant Unmet Need

DEBILITATING INFLAMMATORY CONDITION

1 in 8 Adults
25 work days lost per year
500,000+ Surgeries / Year

Top 10 Most Common Reason for

Most Costly Condition Adult Antibiotic Rx
for US Employers
2
Innovation Solutions, Clinically Proven

1ST DRUG RELEASING IMPLANTS FOR CHRONIC SINUSITIS

Local Delivery, Mechanical Spacing, Bioabsorbable

FAMILY

Improving Surgical Outcomes Managing Recurrent

Disease

3
Playing a Meaningful Role in CS Patient Journey
ENT Visit

Medical Management
Nasal Intranasal
Antibiotics
Rinses Steroids

Nasal Endoscopy / CT Scan

Balloon FESS
FAMILY

Post-Surgical
Management

Treated Over 200,000 Patients to Date

4
 Large Patient Population and Market

FAMILY

Early Stage Disease Advanced Disease Continuing Disease

(Office) (Surgery) (Office)

PATIENTS 800,000 540,000 635,000

TAM $1.1B $0.8B $1.3B

~2M Patients, $3B TAM

* Company estimates. Sinus Surgery refers to FESS, or functional endoscopic sinus surgery, and sinus opening
refers to opening of the frontal or maxillary sinuses
5
Expanding Portfolio Across
CS Indications and Care Settings

HOSPITAL / ASC OFFICE

Frontal

Ethmoid

Maxillary

6
Commitment to Evidence-Based Innovation
FAMILY

EXCEED (Contour) 15 Patients 2 Sites

Pilot (PROPEL) 43 Patients 4 Sites
RESOLVE pk 5 Patients 1 Site
ADVANCE 50 Patients 7 Sites RESOLVE pilot 12 Patients 4 Sites

ADVANCE II 105 Patients 11 Sites RESOLVE 100 Patients 18 Sites

RESOLVE II 300 Patients 40 Sites

PROGRESS (mini) 80 Patients 11 Sites
3 PROPEL In-Office Studies 80 Patients 2 Sites
PROGRESS (Contour) 80 Patients 12 Sites ENCORE 50 Patients 12 Sites

14 Prospective 40 > 900

Clinical Studies Centers in US Patients

7
 FAMILY
Improving Surgical Outcomes

8
 PROPEL and PROPEL Mini
Surgical Products to Improve Outcomes

ETHMOID SINUS

OPENS DELIVERS MAINTAINS

Advanced into Self-Expanding Implant Sustained, Targeted Opening by Reducing
Surgically Enlarged Conforms to and Delivery of Steroid Post-Operative
Sinus Cavity Holds Open Sinus Over 30 Days Inflammation and Scarring

9
PROPEL and PROPEL Mini
Clinically Proven Outcomes

Approved for Placement in Ethmoid Sinus

Only Device Used in Sinus Surgery Backed by
Level 1a Evidence

ETHMOID SINUS 35% Reduction in Post-Operative Intervention

META-ANALYSIS 200+ Patient Prospective, Randomized, Blinded, Multi-Center Trials

POST-OPERATIVE INFLAMMATION NEED FOR SCARRING
INTERVENTION (POLYPOSIS) ORAL STEROIDS (ADHESIONS)

35% 46% 40% 70%

p=0.0008 p<0.0001 p=0.0023 p=0.0013

Meta-analysis: Han JK, Marple BF, Smith TL et al. Int Forum Allergy Rhinol, Vol. 2, No. 4, July/August 2012 10
PROPEL Contour
Expanding Addressable Markets

OVERVIEW
• Designed for Patients in Surgical or Office Setting
of Care
• Enhances Physician Choice: Smaller Size, Unique
Hourglass Shape, Flexible Applicator FRONTAL AND
MAXILLARY SINUSES

FRONTAL PLACEMENT FLEXIBLE APPLICATOR

11
PROPEL Contour
Clinically Proven Outcomes

PMA Feb 2017:

Frontal and Maxillary Sinuses
Designed for Use in OR or Office
FRONTAL AND Setting of Care
MAXILLARY SINUSES

CONTOUR STUDY 80 Patient Prospective, Randomized, Blinded, Multi-Center Trial

POST-OPERATIVE ORAL STEROID OCCLUSION/ SURGICAL
INTERVENTION* INTERVENTION** RESTENOSIS** INTERVENTION**

65% 35% 63% 73%

p=0.0023 p=0.1094 P<0.0001 p=0.0078

Luong A, et al., JAMA Otolaryngology–Head & Neck Surgery, Published online November 2, 2017. *Judged by an independent reviewer.
12
** Judged by clinical investigators. The p-values for the secondary endpoints were adjusted for multiplicity.
PROPEL FAMILY
Continuing Commercial Traction

TODAY GROWTH DRIVERS

1 in 3 ENTs
~ 50% of Accounts • Ongoing Salesforce Expansion
• 110 Field Representatives YE 2017

• TMs and Sales Consultants

• PROPEL Contour

1 in 8 Sinus Surgeries • Market Development Initiatives

13
 PROPEL Family
Reimbursement and Value Proposition in Place
REIMBURSEMENT IN PLACE
Covered through Hospital Facility Fee
Drugs
Reimbursement

Repair of
Turbinate COST EFFECTIVENESS STUDY1
Lateralization Placement of PROPEL following FESS
“is a cost-effective intervention
Surgical for preventing a postoperative
Adhesion Lysis intervention within 60 days
after surgery.”
Polypectomy

BUDGET IMPACT MODEL2

Revision
Surgery Use of PROPEL is
“expected to save the plan money”

Focus on Higher Quality of Care with Lower Overall Cost

1Rudmik L and Smith TL. Economic Evaluation of a Steroid-Eluting Sinus Implant following Endoscopic Sinus Surgery for Chronic Rhinosinusitis.
Otolaryngol Head Neck Surg. 2014 May 5;151(2):359-366.
2Rudmik L, Mallow P, Swetha, P and Rizzo, J. Budget Impact Analysis of Bioabsorbable Drug Eluting Sinus Implants for Endoscopic Sinus Surgery;

International Society of Pharmocoeconomics Outcomes and Research, 2015. 14

14
Designed to Deliver

15
SINUVA
Office Treatment for Recurrent CRS/Polyps

OVERVIEW
• Designed for Patients Who Have Had Prior Surgery
• Dilates Obstructed Cavity
• Delivers~4x Steroid (vs. PROPEL) Over 90 Days
• 100% Patient Compliance ETHMOID SINUS

Ethmoid Sinus Immediately 6 Weeks

Pre-implant Post-implant Post-implant

16
SINUVA
Clinically Proven Outcomes

NDA Approved December 2017

4 Studies Conducted in over 400 patients
Commercial Launch Q218
ETHMOID SINUS

RESOLVE II Study 300 Patient Prospective, Randomized, Blinded, Multi-Center Trial

• Reduction in Bilateral Polyp Grade (p=0.0073)
CO-PRIMARY and
• Improvement in Nasal Obstruction/Congestion (p=0.0074)
KEY SECONDARY
• Reduction in Need for Repeat FESS, Reduction in Ethmoid
ENDPOINTS MET
Obstruction, Improvement in Sense of Smell

• 74% Relative Reduction in Polyp Grade

Outcomes • 30% Relative Reduction in Nasal Obstruction /Congestion
• 61% Reduction in Indication for Revision Surgery at Day 90

• Data on file, Intersect ENT. RESOLVE II CR-00014 Rev. 1.0 January 2018 17
 SINUVA
Reduction in Polyps and Sinus Obstruction

ENDOSCOPIC OUTCOMES

BILATERAL POLYP GRADE ETHMOID SINUS OBSTRUCTION

Day 14 Day 30 Day 60 Day 90 Day 14 Day 30 Day 60 Day 90
0 0
0%

-5
-5%
Change from Baseline

-0.5
-10
-10%

-1 -15
-15%

-20
-20%
-1.5
* * -25%
-25
*
*
-2 * -30%
-30 * *
*
Treatment Control

* p-value < 0.0001

RESOLVE II Study. Grading by Clinical Investigators. Data on file at company. 18

 SINUVA
Commercial Launch- Commenced April 2018

• Integrated Sales Force for PROPEL and SINUVA

• Expanding Opportunity Within ENT Customer Group

• Targeted Launch to Pave the Way

19
SINUVA
Market Access

DESIGNING RANGE OF SUPPORT SERVICES TO FACILITATE

PHYSICIAN AND PATIENT ACCESS

RX

REIMBURSEMENT PURCHASING BENEFITS /

HOTLINE OPTIONS CLAIMS

To Answer Questions Via Specialty Via Reimbursement

from Physician Pharmacy or Buy Customer Service
Practices and Patients and Bill Hub or Specialty
Pharmacy

20
 Emerging Opportunity Outside the US

~250K FESS / Year

~450K FESS / Year

~540K FESS / Year

ATTRACTIVE MARKET OPPORTUNITIES DEVELOPING MARKET

• Initial Targets Germany and Japan
• PROPEL Has CE Mark Approval
COMMERCIALIZATION PLANS
• Regulatory Pathways
• KOL Support
• Reimbursement Activities
• Market Entry Strategy

21
Track Record of Progress

2017
PROPEL
2016 Contour Launch

SINUVA NDA
2015 PROPEL Mini Submission &
Frontal Launch Approval
Commercial
PROPEL Contour PROGRESS JAMA
Expansion
PMAs Submission Publication
Health Economic
SINUVA Pivotal RESOLVE II
Value Data
Results Presentation
1st Year as
Public Company

22
Exciting Outlook

2019
2018 Diversified Across
Care Settings
2017 SINUVA Continuing
Launch Financial
PROPEL Leverage
2016 Contour Launch Expand Focus to
Include Office Driving SINUVA
SINUVA NDA Setting of Care Toward Standard
2015 PROPEL mini Submission & of Care
Frontal Launch Approval Pipeline
Commercial Expansion
PROPEL Contour PROGRESS
Expansion
PMAs Submission JAMA Publication
Health Economic
SINUVA Pivotal RESOLVE II
Value Data
Results Presentation
1st Year as
Public Company

23
NASDAQ: XENT