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Orchestra BioMed to Participate in Upcoming Institutional Investor Conferences
Globenewswire· 2025-04-28 20:30
Core Insights - Orchestra BioMed Holdings, Inc. is actively participating in multiple institutional investor conferences to discuss its innovative biomedical technologies and partnerships [1][2][3] Group 1: Upcoming Conferences - The company will participate in Chardan Capital's Trending Issues in Drug Development Conference on April 29, 2025, featuring a fireside chat with CEO David Hochman [1] - Management will also engage in a live fireside chat at the Jefferies Global Healthcare Conference on June 5, 2025, along with one-on-one meetings with investors [2] - Additionally, a live presentation is scheduled for the H.C. Wainwright 3rd Annual BioConnect Investor Conference on May 20, 2025, where management will host one-on-one meetings [3] Group 2: Company Overview - Orchestra BioMed focuses on accelerating high-impact biomedical technologies through risk-reward sharing partnerships with leading medical device companies [4] - The company's lead product candidate is atrioventricular interval modulation (AVIM) therapy for hypertension, a major global health risk [4] - Orchestra BioMed is also developing the Virtue Sirolimus AngioInfusion™ Balloon for atherosclerotic artery disease, which is a leading cause of mortality worldwide [4] - The company has strategic collaborations with Medtronic for AVIM therapy and with Terumo for the Virtue SAB [4]
Orchestra BioMed Announces AVIM Therapy-Focused Satellite Symposium at HRS 2025 Annual Meeting
Newsfilter· 2025-04-23 13:00
Core Insights - Orchestra BioMed Holdings, Inc. announced an industry-sponsored satellite symposium at the Heart Rhythm Society 2025 Annual Meeting to discuss advancements in its atrioventricular interval modulation (AVIM) therapy program [1][4] - The FDA granted Breakthrough Device Designation to AVIM therapy for treating hypertension in patients with increased cardiovascular risk, highlighting the unmet need in this patient population [2][4] - The BACKBEAT global pivotal study is currently enrolling patients to evaluate the efficacy of AVIM therapy in managing uncontrolled hypertension [2][9] Company Overview - Orchestra BioMed is a biomedical innovation company focused on accelerating high-impact technologies through partnerships with leading medical device companies [7] - The company's lead product candidate is AVIM therapy, aimed at treating hypertension, which is a leading risk factor for death globally [7] - Orchestra BioMed has strategic collaborations with Medtronic for AVIM therapy and Terumo for the Virtue Sirolimus AngioInfusion Balloon [7] Symposium Details - The symposium titled "The Future of Cardiac Pacing: Unlocking the Potential of Atrioventricular Interval Modulation (AVIM) Therapy" will take place on April 25, 2025, at the Hilton San Diego Bayfront Hotel [3] - Presentations will cover clinical results from studies demonstrating AVIM therapy's effectiveness in reducing blood pressure and improving cardiac function [4][5] - Key presentations will include topics on the unmet hypertension need, AVIM therapy's impact on hypertension, and the rationale behind the BACKBEAT study [5][6] Clinical Evidence - AVIM therapy has shown promising results in pilot studies, with reductions of 8.1 mmHg in 24-hour ambulatory systolic blood pressure and 12.3 mmHg in office systolic blood pressure at six months compared to control patients [9] - The BACKBEAT study aims to further evaluate the safety and efficacy of AVIM therapy in patients with uncontrolled hypertension despite anti-hypertensive medication [9]
Orchestra BioMed Receives FDA Breakthrough Device Designation for AVIM Therapy
GlobeNewswire News Room· 2025-04-22 11:00
Core Insights - The U.S. FDA has granted Breakthrough Device Designation for Orchestra BioMed's AVIM therapy, which aims to manage hypertension in patients at high cardiovascular risk [1][3][6] Regulatory and Clinical Development - The Breakthrough Device Designation is specifically for an implantable system (pacemaker) that delivers AVIM therapy to reduce blood pressure in patients with increased ten-year ASCVD risk and uncontrolled hypertension [2][6] - There are over 7.7 million patients in the U.S. who meet the criteria for this therapy [2][6] - AVIM therapy is currently being evaluated in the BACKBEAT global pivotal study, which is a collaboration between Orchestra BioMed and Medtronic [2][3][7] Market Potential and Collaboration - The collaboration with Medtronic allows for the development and commercialization of AVIM therapy, particularly for patients indicated for pacemakers [7][8] - The Breakthrough Device Designation may facilitate favorable reimbursement pathways, including eligibility for NTAP and TPT under CMS programs [4][11] Clinical Efficacy - Pilot studies have shown that AVIM therapy can lead to significant reductions in blood pressure, with net reductions of 8.1 mmHg in 24-hour ambulatory systolic blood pressure and 12.3 mmHg in office systolic blood pressure at six months [10]
Orchestra BioMed Holdings, Inc. (OBIO) Reports Q4 Loss, Lags Revenue Estimates
ZACKS· 2025-04-01 00:05
Company Performance - Orchestra BioMed Holdings, Inc. reported a quarterly loss of $0.43 per share, which aligns with the Zacks Consensus Estimate, compared to a loss of $0.37 per share a year ago [1] - The company posted revenues of $0.25 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 67.85%, and down from $0.26 million year-over-year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [2][1] Stock Movement and Outlook - Shares of Orchestra BioMed Holdings, Inc. have increased by approximately 10% since the beginning of the year, contrasting with a decline of -5.1% in the S&P 500 [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the coming quarter is -$0.46 on revenues of $0.74 million, and for the current fiscal year, it is -$1.95 on revenues of $3.84 million [7] Industry Context - The Medical - Biomedical and Genetics industry, to which Orchestra BioMed belongs, is currently ranked in the top 27% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5]
Orchestra BioMed Reports Full Year 2024 Financial Results and Provides a Fourth Quarter Business Update
Newsfilter· 2025-03-31 20:21
Core Insights - Orchestra BioMed is focused on executing the BACKBEAT global pivotal study, which aims to establish AVIM therapy as a new standard of care for uncontrolled hypertension in pacemaker patients [2][5] - The company is also preparing to initiate a U.S. coronary pivotal study for the Virtue SAB program, with an updated trial design currently under FDA review [2][5] - The company is entering a formal mediation process with Terumo to resolve partnership negotiations, aiming for a resolution in the second quarter of 2025 [2][5] Financial Results for 2024 - Cash and cash equivalents and marketable securities totaled $66.8 million as of December 31, 2024 [10] - Revenue for 2024 was $2.6 million, a decrease from $2.8 million in 2023, primarily due to reduced partnership revenues from Terumo [10] - Research and development expenses increased to $42.8 million in 2024 from $33.8 million in 2023, driven by costs associated with the BACKBEAT study [10] - The net loss for 2024 was $61.0 million, or ($1.66) per share, compared to a net loss of $49.1 million, or ($1.48) per share, in 2023 [10][17] Product Development and Partnerships - AVIM therapy has shown promising results in pilot studies, with net reductions of 8.1 mmHg in 24-hour ambulatory systolic blood pressure and 12.3 mmHg in office systolic blood pressure at six months [8] - Virtue SAB is designed to deliver an extended-release formulation of sirolimus during balloon angioplasty without the need for a coating on the balloon surface [9] - The FDA has granted Breakthrough Device designation to Virtue SAB for specific indications, enhancing its development prospects [11] Leadership and Governance - The board of directors has been enhanced with the appointment of three experienced independent directors, including former executives from Medtronic and Siemens [5] - Mark Pomeranz has been appointed as Executive Vice President & General Manager, bringing over two decades of experience in medical devices [5]
Orchestra BioMed (OBIO) - 2024 Q4 - Annual Report
2025-03-31 20:16
Financial Condition - Orchestra BioMed Holdings, Inc. has a history of net losses and expects to continue incurring losses for the foreseeable future[18] - As of December 31, 2024, the company's cash, cash equivalents, and short-term investments are insufficient to fund operations for at least the next twelve months, raising substantial doubt about its ability to continue as a going concern[18] - The future sales of shares by existing stockholders may adversely affect the market price of the company's common stock[20] Clinical Studies and Regulatory Approvals - The clinical study process required for regulatory approvals is lengthy, expensive, and carries substantial risks, which could harm the business if studies are unsuccessful or delayed[18] - Interim data from clinical studies may change as more patient data become available, which could result in material changes in final data[18] - The company intends to expand sales internationally but may face difficulties in obtaining regulatory approvals or successfully marketing products abroad[18] - The company intends to expand sales of its products internationally but may face difficulties in obtaining regulatory approvals or successfully marketing products even if approved[18] Dependence on Partners and Supply Chain - The company is highly dependent on partners and third-party vendors for the successful marketing and sale of its initial product candidates, with no assurance of successful partnerships[20] - The company is highly dependent on partners and third-party vendors for manufacturing and providing critical materials, with no assurance of effective supply chain management[20] - The company expects to continue relying on third parties for successful marketing and sales of its initial product candidates, with no assurance of successful partnerships[19] Intellectual Property Risks - The company may not effectively protect or enforce its intellectual property, which could adversely affect its business and financial condition[20] - The company may face substantial costs and liabilities from litigation or proceedings related to intellectual property rights[20] Market and Regulatory Pressures - Healthcare cost-containment pressures and legislative reforms could decrease demand for the company's products and affect pricing and procedure volumes[20] - Healthcare cost-containment pressures and legislative reforms could decrease demand for the company's products and negatively impact pricing and procedure volumes[20] Manufacturing Challenges - The company has limited pharmaceutical manufacturing experience, which may lead to development or manufacturing problems that could limit revenue growth[20] - The company has limited pharmaceutical manufacturing experience, which may lead to development or manufacturing problems that could limit revenue growth[20]
Orchestra BioMed to Present at Upcoming Investor Conferences
GlobeNewswire News Room· 2025-02-20 13:00
Company Overview - Orchestra BioMed Holdings, Inc. is a biomedical innovation company focused on accelerating high-impact technologies to patients through risk-reward sharing partnerships with leading medical device companies [4] - The company's lead product candidate is atrioventricular interval modulation (AVIM) therapy for treating hypertension, a significant global health risk [4] - Orchestra BioMed is also developing the Virtue® Sirolimus AngioInfusion™ Balloon (SAB) for treating atherosclerotic artery disease, which is the leading cause of mortality worldwide [4] Strategic Partnerships - The company has a strategic collaboration with Medtronic for the development and commercialization of AVIM therapy in pacemaker-indicated patients [4] - Additionally, Orchestra BioMed has partnered with Terumo for the development and commercialization of Virtue SAB for artery disease treatment [4] Upcoming Investor Engagements - Company management will present at the TD Cowen 45th Annual Healthcare Conference on March 3, 2025, at 2:30 PM ET [2] - A fireside chat is scheduled at the Barclays 27th Annual Global Healthcare Conference on March 13, 2025, at 8:00 AM ET [2] - The company will also host one-on-one meetings with investors at the B. Riley Securities Precision Oncology & RadioPharma Conference on February 28, 2025 [3]
Orchestra BioMed Appoints Vivek Reddy, M.D. as Executive Chairman of the BACKBEAT Study Steering Committee and Chairman of Bioelectronic Therapies Scientific Advisory Board
Globenewswire· 2025-02-18 13:00
Core Viewpoint - Orchestra BioMed Holdings, Inc. has appointed Dr. Vivek Reddy as Executive Chairman of the BACKBEAT Study Steering Committee and Chairman of the Bioelectronic Therapies Scientific Advisory Board to enhance the development of its bioelectronic therapies portfolio and lead the BACKBEAT global pivotal study [1][2] Company Overview - Orchestra BioMed is a biomedical innovation company focused on accelerating high-impact technologies through risk-reward sharing partnerships with leading medical device companies [3][5] - The company's lead product candidate is atrioventricular interval modulation (AVIM) therapy aimed at treating hypertension, a significant global health risk [3][5] BACKBEAT Study - The BACKBEAT global pivotal study is currently enrolling patients to assess the efficacy and safety of AVIM therapy for those with uncontrolled hypertension and a pacemaker indication [4] - The study aims to provide critical scientific evidence and clinical value for AVIM therapy, which is designed to offer an adjustable treatment option that does not depend on patient adherence [2][4] Leadership and Expertise - Dr. Vivek Reddy brings extensive experience in electrophysiology and cardiac rhythm management, currently serving in multiple leadership roles at The Mount Sinai Health System [2][4] - His leadership is expected to enhance awareness and communication regarding AVIM therapy within the clinical community, facilitating the successful completion of the BACKBEAT study [2][4]
Orchestra BioMed Announces Data Demonstrating Favorable Impact of AVIM Therapy on Diastolic Dysfunction, a Key Driver of Heart Failure Progression, will be Presented as Late-Breaking Science at the THT 2025 Conference
Newsfilter· 2025-02-12 15:43
Core Insights - Orchestra BioMed announced a late-breaking presentation on the benefits of atrioventricular interval modulation (AVIM) therapy for patients with diastolic dysfunction at the THT 2025 Conference [1][2] - The retrospective analysis from the MODERATO II study showed significant improvements in echocardiographic markers of diastolic dysfunction in hypertensive patients receiving AVIM therapy [1][4] Company Overview - Orchestra BioMed is a biomedical innovation company focused on accelerating high-impact technologies through partnerships with leading medical device companies [9] - The company's lead product candidate is AVIM therapy, aimed at treating hypertension, a major global health risk [9][11] Study Findings - The MODERATO II study involved a treatment-blinded analysis assessing the impact of 6 months of AVIM therapy on systolic blood pressure (SBP) and echocardiographic markers of diastolic dysfunction [4][7] - Among the 36 patients with sufficient echocardiographic data, 61% exhibited evidence of diastolic dysfunction [4] Clinical Data - AVIM therapy resulted in a significant reduction in ambulatory SBP by 8.3±9.7 mmHg and office SBP by 12.1±12.8 mmHg in patients with diastolic dysfunction [7] - Key measures of diastolic function improved significantly, including an increase in e' from 5.9±2.0 to 8.8±3.4 cm/sec and E/A ratio from 0.86±0.39 to 1.60±0.84 [7] Future Directions - The ongoing BACKBEAT global pivotal study aims to further evaluate the safety and efficacy of AVIM therapy in patients with uncontrolled hypertension and diastolic dysfunction [8][11] - The findings from the MODERATO II study suggest a potential new paradigm for treating hypertension and its associated risks, particularly in high-risk populations [8]
Orchestra BioMed Announces Appointment of Former Medtronic SVP of Corporate Development Christopher Cleary to Board of Directors
Globenewswire· 2025-02-05 13:00
Core Viewpoint - Orchestra BioMed Holdings, Inc. has appointed Christopher Cleary as an independent member of its Board of Directors, effective January 30, 2025, bringing over 30 years of experience in corporate development and strategic investments in the medical technology industry [1][2][4] Group 1: Board Appointment - Christopher Cleary's extensive experience includes facilitating over 35 acquisitions and orchestrating a $6 billion sale during his tenure at Medtronic [2][4] - Cleary's role is expected to provide invaluable guidance to enhance the execution of Orchestra BioMed's partnership-enabled business model [2][5] - Eric A. Rose, M.D. will transition to Board Member Emeritus and Strategic Advisor after seven years of service, continuing to support the company's initiatives [3][4] Group 2: Business Model and Collaborations - Orchestra BioMed focuses on risk-reward sharing partnerships with leading medical device companies to drive the commercialization of its products [4][5] - The company's lead product candidate is AVIM therapy for hypertension, which is a significant global health risk [5][7] - Orchestra BioMed has strategic collaborations with Medtronic for AVIM therapy and with Terumo for the Virtue Sirolimus AngioInfusion™ Balloon [5][7] Group 3: AVIM Therapy Details - AVIM therapy is designed to lower blood pressure and has shown promising results in pilot studies, with reductions of 8.1 mmHg in 24-hour ambulatory systolic blood pressure and 12.3 mmHg in office systolic blood pressure at six months [7] - The BACKBEAT global pivotal study will further evaluate the safety and efficacy of AVIM therapy in patients indicated for dual-chamber cardiac pacemakers [7]