Portzamparc – BNP Paribas Group Initiates Coverage of ONWARD Medical with a Buy Rating and Target Price of EUR 10.20

Core Insights - ONWARD Medical N.V. is recognized as a leading neurotechnology company focused on therapies to restore movement and function in individuals with spinal cord injuries and other movement disabilities [1][3] - BNP Paribas' broker Portzamparc has initiated coverage of ONWARD Medical with a Buy rating and a target price of EUR 10.20, indicating strong analyst confidence in the company's growth prospects [1][2] Company Developments - The ARC-EX System has received clearance for commercial use in both the U.S. and Europe, marking a significant transition for ONWARD into a commercial-stage company [2][3] - The company is preparing to initiate a global pivotal study for its investigational implantable ARC-IM platform, which aims to address unmet needs such as blood pressure instability following spinal cord injury [2][3] Market Position - The initiation report from Portzamparc expands ONWARD's equity research coverage to five leading banks, all maintaining a Buy rating and target prices significantly above current trading levels [2] - ONWARD Medical has been awarded 10 Breakthrough Device designations from the FDA, highlighting its innovative approach and regulatory recognition [3] Product Information - The ARC-EX System is designed to deliver programmed, transcutaneous electrical spinal cord stimulation to improve hand sensation and strength in individuals aged 18 to 75 with chronic, non-progressive neurological deficits due to incomplete spinal cord injuries [8] - Other investigational products, including ARC-IM and ARC-BCI, are currently not available for commercial use [9] Company Structure - ONWARD Medical is headquartered in the Netherlands, with additional facilities in Switzerland and a U.S. office in Boston, Massachusetts [4] - The company is publicly listed on Euronext Paris, Brussels, and Amsterdam, with its U.S. ADRs traded on OTCQX [4]