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Ondine Biomedical (OBI) stock choppy on London debut

By Jenni Reid

10:23, 6 December 2021

An Ondine Biomedical device
Ondine Biomedical makes an antimicrobial “photodisinfection” product called Steriwave – Photo: Ondine Biomedical

Shares in Canadian biotech firm Ondine Biomedical (OBI) were choppy in the company’s first hours of trading on the London Stock Exchange (AIM) on Monday morning. 

The stock opened at 57p, ahead of their placing price of 53.41p, and were up 9.72% to 58.60p at 9:15 GMT. They dropped to 56.00p at 9:45 GMT, before ticking back up above their day start by 10am. 

Ondine placed 194,584,524 common shares on London’s Alternative Investment Market, a submarket for small- to mid-sized firms. 

It hopes to raise £22.2m ($16.7m) through the £104m float.  

Covid killer

The Vancouver-based company has developed antimicrobial technology – called “photodisinfection” – it claims can “rapidly destroy pathogens” in respiratory tracts, including SARS-CoV-2.


15,907.70 Price
-0.300% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 1.8


2,013.29 Price
-0.080% 1D Chg, %
Long position overnight fee -0.0194%
Short position overnight fee 0.0112%
Overnight fee time 22:00 (UTC)
Spread 0.30


0.61 Price
+1.040% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168

Oil - Crude

75.73 Price
+0.860% 1D Chg, %
Long position overnight fee -0.0211%
Short position overnight fee -0.0008%
Overnight fee time 22:00 (UTC)
Spread 0.030

A key selling point is that it does this without use of antibiotics. 

Its core product, Steriwave, which removes pathogens from the nose to reduce healthcare-acquired infections, is already in use in some Canadian hospitals. 

Ondine Biomedical is currently conducting clinical trials seeking regulatory approval to launch Steriwave in the US.

Read more: ESG investor Net Zero targets London listing

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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