Canada's Ondine Biomedical H1 revenue jumps on new  hospital deployments

Overview

• Canada life sciences firm's H1 revenue rose 23% yr/yr, driven by new hospital deployments

• Operating loss widened on higher R&D spend for LANTERN Phase 3 trial

• Company launched new equity fundraise to support regulatory and commercial activities

Outlook

• Ondine targets a pre-NDA meeting with FDA in Q1 2027 and NDA submission in mid-2027

• Company expects R&D spend, operating loss and cash burn to reduce materially post-LANTERN trial

Result Drivers

• NEW HOSPITAL DEPLOYMENTS - Co said revenue growth was driven by new hospital deployments and increased utilisation within existing accounts

• LANTERN PHASE 3 INVESTMENT - Operating loss widened due to increased R&D spend for LANTERN Phase 3 trial

• STABLE SALES & MARKETING SPEND - Sales and marketing expenses held flat while supporting clinical programmes and market development

Company press release:

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "strong buy"

• Wall Street's median 12-month price target for Ondine Biomedical Inc is GBp29.00, about 197.4% above its September 29 closing price of GBp9.75

Reuters Recommended Reads

• Sept 29 - France's MaaT Pharma H1 operating loss widens on higher R&D costs

• Sept 28 - France's Genfit H1 revenue falls due to absence of milestone payments

• Sept 30 - Switzerland's Santhera Pharma H1 revenue soars on AGAMREE sales, milestones

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)