Welcome to our dedicated page for Orchestra BioMed Holdings news (Ticker: OBIO), a resource for investors and traders seeking the latest updates and insights on Orchestra BioMed Holdings stock.
Orchestra BioMed Holdings, Inc. (Nasdaq: OBIO) is a biomedical innovation company dedicated to bringing high-impact technologies to patients through strategic partnerships. The company's unique business model relies on risk-reward sharing collaborations with leading medical device companies, facilitating global commercialization of its innovative products.
Core Offerings and Innovations
- BackBeat Cardiac Neuromodulation Therapy (CNT): This flagship product targets hypertension, an extensive global health issue. BackBeat CNT uses atrioventricular interval modulation (AVIM) therapy administered through standard dual-chamber pacemakers to significantly and persistently reduce blood pressure.
- Virtue Sirolimus AngioInfusion Balloon (SAB): This product is aimed at treating atherosclerotic artery disease, the leading cause of mortality worldwide. The Virtue SAB is a novel drug-delivery system designed to address the specific needs of patients with this condition.
Recent Achievements
In January 2024, Orchestra BioMed announced the successful randomization of the first patient in the BACKBEAT pivotal study, aimed at assessing the efficacy and safety of AVIM therapy in pacemaker-indicated patients with uncontrolled hypertension. This study is crucial for determining the effectiveness of the BackBeat CNT in reducing blood pressure.
Strategic Partnerships
Orchestra BioMed has formed pivotal partnerships to drive its mission. In July 2022, the company entered a strategic collaboration with Medtronic for the commercialization of AVIM therapy. This partnership will enable Medtronic to exclusively commercialize AVIM-enabled pacing systems globally, with Orchestra BioMed sharing in the resultant revenues. Additionally, a strategic partnership with Terumo focuses on the development and commercialization of Virtue SAB.
Financial Condition and Market Presence
Orchestra BioMed is financially robust and strategically positioned in the biomedical sector, with a clear focus on growing its product pipeline through acquisitions, strategic collaborations, and organic development. This approach ensures sustained innovation and market relevance.
For more detailed information, visit www.orchestrabiomed.com and follow the company on LinkedIn and X (formerly Twitter).
Orchestra BioMed Holdings (Nasdaq: OBIO) has announced its participation in several upcoming investor conferences in early 2025. The company will present at the TD Cowen 45th Annual Healthcare Conference on March 3, 2025, at 2:30 PM ET, and the Barclays 27th Annual Global Healthcare Conference on March 13, 2025, at 8:00 AM ET.
The TD Cowen presentation will be available via webcast, accessible through Orchestra BioMed's website investor section, with replays available for 90 days after the event. Additionally, the company will host one-on-one meetings with investors at the B. Riley Securities Precision Oncology & RadioPharma Conference on February 28, 2025.
Orchestra BioMed Holdings (Nasdaq: OBIO) has appointed Dr. Vivek Reddy as Executive Chairman of the BACKBEAT Study Steering Committee and Chairman of its Bioelectronic Therapies Scientific Advisory Board. Dr. Reddy, currently Director of Cardiac Arrhythmia Services at Mount Sinai, will lead the execution of the BACKBEAT global pivotal study, which evaluates the efficacy and safety of atrioventricular interval modulation (AVIM) therapy for patients with uncontrolled hypertension and pacemaker indication.
The AVIM therapy represents a potential always-on, adjustable hypertension treatment that doesn't rely on patient adherence. Dr. Reddy will focus on completing the BACKBEAT study and coordinating efforts among clinical advisors to realize AVIM therapy's potential for hypertension populations with increased cardiovascular risk. The company is also exploring additional therapeutic applications for this technology.
Orchestra BioMed (NASDAQ: OBIO) announced late-breaking data showing favorable effects of atrioventricular interval modulation (AVIM) therapy on diastolic dysfunction in hypertensive patients. The retrospective analysis of the MODERATO II study revealed that AVIM therapy significantly improved echocardiographic markers of diastolic dysfunction, a key factor in heart failure development.
Key findings from the study of 36 patients with sufficient Echo data (61% with diastolic dysfunction) showed that AVIM therapy reduced ambulatory systolic blood pressure by 8.3±9.7 mmHg in treated patients versus 2.2±9.8 mmHg in the control group. Office systolic blood pressure decreased by 12.1±12.8 mmHg in treated patients compared to an increase of 2.9±26.4 mmHg in controls.
The therapy also demonstrated significant improvements in key measures of diastolic function, including increased e' (from 5.9±2.0 to 8.8±3.4cm/sec) and E/A ratio (from 0.86±0.39 to 1.60±0.84), indicating improved left ventricular relaxation and filling.
Orchestra BioMed Holdings (NASDAQ: OBIO) has appointed Christopher Cleary to its Board of Directors as an independent member, effective January 30, 2025. Cleary, former Senior Vice President of Corporate Development at Medtronic, brings over three decades of experience in corporate development, M&A, and R&D collaborations.
During his tenure at Medtronic, Cleary facilitated over 35 acquisitions and orchestrated the $6 billion sale of Covidien Group's medical supply assets to Cardinal Health. He previously served as CEO of Alesia Capital Services and led M&A teams at GE Capital, closing acquisitions totaling more than $60 billion across 200+ transactions globally.
Additionally, Eric A. Rose, M.D. will transition from Board Member to Board Member Emeritus and Strategic Advisor after seven years of service, continuing to provide expertise and guidance to Orchestra BioMed.
Orchestra BioMed (Nasdaq: OBIO) announced two presentations at the 2024 Innovation in Cardiology Intervention (ICI) meeting in Tel Aviv. The presentations focus on the BACKBEAT global pivotal study and AVIM therapy for treating uncontrolled hypertension in patients requiring dual-chamber pacemakers.
Dr. Avi Fischer will present insights on the unmet medical needs of pacemaker patients with uncontrolled hypertension. Dr. Andrea Russo will discuss AVIM therapy's mechanism of action and clinical evidence, including results from the MODERATO I and II pilot studies, demonstrating how the therapy modulates the autonomic nervous system to reduce blood pressure.
Orchestra BioMed Holdings (Nasdaq: OBIO) announced its participation in the Piper Sandler 36th Annual Healthcare Conference in New York, NY from December 3-5, 2024. The company's management will deliver a fireside chat presentation on Wednesday, December 4, 2024, at 3:00 PM EST. The presentation will be available via webcast, with a replay accessible on the Orchestra BioMed website's Events section for 90 days afterward. The company will also be available for one-on-one meetings during the conference.
Orchestra BioMed (NASDAQ: OBIO) reported Q3 2024 financial results with revenue of $1.0 million, up from $0.4 million in Q3 2023. The company posted a net loss of $15.4 million ($0.41 per share). Cash position stood at $66.9 million as of September 30, 2024, with an additional $15 million drawn from Hercules Capital facility in November. R&D expenses increased to $11.6 million due to BACKBEAT study costs. The company continues to advance its BACKBEAT global pivotal study with Medtronic and is preparing for Virtue SAB coronary pivotal studies. Operating runway is expected into second half of 2026.
Orchestra BioMed Holdings (Nasdaq: OBIO) has announced its participation in the upcoming Jefferies London Healthcare Conference, scheduled for November 19-21, 2024, in London, UK. The company will engage in a fireside chat presentation on Tuesday, November 19, 2024, at 1:00 PM GMT.
The presentation will be accessible via webcast, and a replay will remain available on the Orchestra BioMed website's Events section for 90 days afterward. Company management will also be available for one-on-one meetings during the conference.
Orchestra BioMed (Nasdaq: OBIO) reported Q2 2024 financial results and provided a business update. Key highlights include:
- Cash and cash equivalents: $65.2 million as of June 30, 2024
- Revenue: $0.8 million, down from $0.9 million in Q2 2023
- Net loss: $16.0 million ($0.45 per share), compared to $12.0 million ($0.35 per share) in Q2 2023
- R&D expenses: $11.1 million, up from $8.5 million in Q2 2023
The company remains focused on its AVIM therapy for hypertension and Virtue SAB program. The BACKBEAT global pivotal study is ongoing, with updates on the Virtue SAB program expected in H2 2024. Orchestra BioMed anticipates its cash runway to extend into H2 2026.
Orchestra BioMed Holdings (Nasdaq: OBIO) has appointed John Mack to its Board of Directors, effective July 29, 2024. Mack brings over 30 years of experience in medical devices, healthcare technology, and finance. He most recently served as President of Cardiac Surgery at Medtronic, where he led the division to market leadership. His previous roles at Medtronic included Vice President & General Manager of Extracorporeal Therapies and Vice President of Business Development, Strategy & Portfolio Management.
David Hochman, Chairman and CEO of Orchestra BioMed, expressed confidence in Mack's ability to contribute to the company's growth and leverage its partnership-enabled business model. Mack's extensive experience in cardiovascular therapy markets and his industry-wide relationships are expected to be valuable assets to the company.
FAQ
What is the current stock price of Orchestra BioMed Holdings (OBIO)?
What is the market cap of Orchestra BioMed Holdings (OBIO)?
What does Orchestra BioMed Holdings, Inc. specialize in?
What are the flagship products of Orchestra BioMed?
What recent milestone has Orchestra BioMed achieved?
Who are Orchestra BioMed's strategic partners?
What is BackBeat CNT?
What is Virtue Sirolimus AngioInfusion Balloon (SAB)?
How does Orchestra BioMed's business model work?
Where can I find more information about Orchestra BioMed?
What is the focus of the BACKBEAT pivotal study?
What is hypertension and why is it significant?
