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OBIO-News
OBIO-Events
Orchestra BioMed Q2 Revenue $88,000, Below Consensus
Reports Q2 revenue $88,000, consensus $118,170. David Hochman, Chairman and Chief Executive Officer of Orchestra BioMed, stated, "The second quarter brought clarity on both the timeline and the scope of the AVIM Therapy opportunity that we are pursuing with Medtronic. We remain on track to reach or exceed our target of 284 evaluable randomized patients in the BACKBEAT Trial by the end of the third quarter of 2026 and maintain our objective to present primary endpoint data as a major conference late-breaker in the second quarter of 2027. The second FDA Breakthrough Device Designation for AVIM Therapy earned during the second quarter strengthens potential regulatory and reimbursement upside for this high-impact program."
Orchestra BioMed Reports Q1 Revenue of $110,000
Reports Q1 revenue $110,000, consensus $160,830. David Hochman, chairman and CEO of Orchestra BioMed stated, "We continued to make meaningful advancements across our late-stage cardiovascular pipeline during the first quarter. Along with the achievement of recently announced important regulatory, clinical and financing milestones, we are pleased to provide clarity on the expected timeline for the BACKBEAT Trial highlighting objectives for enrollment completion, late-breaking clinical trial presentation, and plans for potential regulatory submissions by our strategic collaborator Medtronic. With increasingly strong momentum continuing in the BACKBEAT Trial and the AVIM Therapy program, and great progress for the Virtue Trial and Virtue SAB, our team is excited about the significant value inflection points that lie ahead for Orchestra BioMed."
Orchestra BioMed Receives $15M Payment from Ligand
Orchestra BioMed (OBIO) announced the receipt of a $15M payment from Ligand (LGND) pursuant to the previously disclosed revenue participation right purchase and sale agreement. The payment completes a scheduled tranche under the agreement and reflects Ligand's continued strategic capital support of Orchestra BioMed's late-stage cardiovascular programs, AVIM Therapy and Virtue SAB, which are both being evaluated in ongoing randomized, controlled pivotal trials. The $15M investment follows an initial $20M investment received at closing of the initial tranche under the royalty purchase agreement on August 4, 2025 and completes Ligand's $35M royalty financing commitment under the royalty purchase agreement. As previously announced, Ligand also purchased an additional $5M of Orchestra BioMed common stock in an equity private placement in August 2025. This payment, together with a $20M investment from Medtronic announced separately, represents a total of $35M in fresh strategic capital received by Orchestra BioMed on May 1 under previously disclosed agreements.
Orchestra BioMed Receives Second Breakthrough Device Designation from FDA
Orchestra BioMed (OBIO) announced that the FDA has granted a second breakthrough device designation, or BDD, for AVIM therapy specific to patients with uncontrolled hypertension despite the use of anti-hypertensive medications, and an indication for a pacemaker. Together, the two BDDs for AVIM therapy cover indications that encompass both the broader population of patients with uncontrolled hypertension despite medication and increased cardiovascular risk as well as the specific pacemaker-indicated population with uncontrolled hypertension being evaluated in the BACKBEAT trial, which Orchestra BioMed is conducting in collaboration with Medtronic (MDT).
Major Averages Drop Over 1% Amid Iran War
The major averages closed with losses of over 1% each as market volatility continues amid the war in Iran and the supply disruptions that are occurring because of it. Oil prices surged roughly 10% as Iran's new Supreme Leader Mojtaba Khamenei said the Strait of Hormuz should remain closed, while U.S. Energy Secretary Chris Wright told CNBC that the U.S. Navy is not prepared to escort oil tankers through the strait at this time. Overnight, three more foreign vessels were struck in the Persian Gulf a day after three separate ships, including one in the Strait, had been hit.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Dick's Sporting Goodsreportedand raised its annual dividendDollar Generalreportedand provided its outlook for FY26Morgan Stanleyand Cliffwater have capped withdrawals from their multibillion-dollar private credit funds after investors sought to redeem vastly more than the vehicles allow,Teamsters haveabout the upcoming merger of Paramount Skydanceand Warner Bros. DiscoveryAnthropic is investing $100M into the2. WALL STREET CALLS:Wells FargoOccidentalto Overweight, calling the company's "peer-leading oil sensitivity" both "an opportunity and a risk"CitiDow Inc.and LyondellBasellto Buy on "asymmetric upside risk" from an extended Middle East conflictJefferiesNutriento Buy on higher fertilizer pricesBernsteinCVSand Cignato OutperformMercadoLibreto Neutral at JPMorgan3. AROUND THE WEB:Telusis investigating a security breach, BleepingComputer reportsThe U.K.'s Ofgem has granted Teslalicense to supply electricity in the U.K., FT saysDeutsche Bankplans to expand its private credit business despite rising investor concerns about credit quality, with its portfolio reaching EUR 25.9B at the end of 2025, up about 6% year over year, FT reportsAbivaxsays "we deny the rumors" to Bloomberg after a report claimed the company granted AstraZenecaan exclusive period to access confidential information and formalize a potential takeover offerJPMorganand UBScut prime brokerage ties with Infini Capital Management Ltd. months ago, Bloomberg reports4. MOVERS:Lightwave Logicrose afterwith Tower SemiconductorPetcoincreased afterand providing guidance for FY26ProFrac Holdingsand Bumbleadvanced afterTIC Solutionsfell afterand announcing the planned retirement of CEO Tal PizzeyNetskopeand GPGIpulled back after5. EARNINGS/GUIDANCE:Gambling.comand provided guidance for FY26, with CEO Charles Gillespie calling out "record fourth quarter revenue"Sunbelt Rentalsand narrowed its guidance for FY26Vera Bradley, with CEO Ian Bickley commenting on "meaningful progress in our transformation journey"Orchestra BioMed, with EPS beating consensusVivid Seatsand provided guidance for Q1 and FY26INDEXES:The Dow fell 739.42, or 1.56%, to 46,677.85, the Nasdaq lost 404.15, or 1.78%, to 22,311.98, and the S&P 500 declined 103.18, or 1.52%, to 6,672.62.
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