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OBIO News
OBIO Events
Orchestra BioMed Receives $6.1M Milestone Payment
Orchestra BioMed (OBIO) announced the receipt of $6.1M as the first milestone payment in connection with the previously announced acquisition of Vivasure Medical by Haemonetics (HAE). This second payment follows the approximately $5M upfront payment received in January and brings total cash proceeds received by Orchestra BioMed from the transaction to approximately $11M. The payment completes the approximately $11M in proceeds previously disclosed as expected during 2026. Orchestra BioMed remains eligible to receive up to approximately $10M in additional proceeds through future revenue earnouts, subject to the achievement of certain milestones, for total potential proceeds of up to $21M.
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).
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