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

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

H1 EBIT

-$15.90 mln


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


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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