Orchestra BioMed announces public offering of common stock

NEW HOPE, Pa. - Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO), currently valued at $118 million and trading near its InvestingPro Fair Value, announced Thursday it has commenced an underwritten public offering of its common stock and pre-funded warrants to purchase shares of its common stock.

The biomedical company plans to grant underwriters a 30-day option to purchase up to an additional 15% of shares and pre-funded warrants sold in the offering. All securities in the offering are being offered by the company. The timing of this offering is notable, as InvestingPro data shows the company is quickly burning through cash despite maintaining impressive gross profit margins of 93%.

Orchestra BioMed intends to use the net proceeds to fund its atrioventricular interval modulation therapy program and the BACKBEAT study, as well as its Virtue Sirolimus AngioInfusion Balloon program and planned trial. Remaining funds will support research and clinical development of other product candidates, working capital and general corporate purposes.

Piper Sandler and TD Cowen are acting as joint book-running managers for the offering, which is subject to market conditions. The company noted there is no assurance regarding the completion, timing, or terms of the offering.

The securities are being offered through a shelf registration statement filed with the Securities and Exchange Commission in May 2024. A preliminary prospectus supplement describing the offering terms will be filed with the SEC.

Orchestra BioMed focuses on accelerating high-impact technologies through partnerships with leading medical device companies. The company’s lead product candidates include AVIM therapy for hypertension treatment and Virtue SAB for atherosclerotic artery disease. The company has strategic collaborations with Medtronic and Terumo for these technologies.

According to the press release statement, Orchestra BioMed has received four Breakthrough Device Designations from the U.S. Food and Drug Administration across its two core programs.

In other recent news, Ocean Biomedical announced that the Nasdaq Listing and Hearing Review Council has affirmed the decision to delist its securities from The Nasdaq Stock Market. This follows a previous decision by the Nasdaq Hearings Panel on April 22, 2025, to delist the company’s shares and suspend trading. The suspension of trading took effect at the opening of business on April 24, 2025. Ocean Biomedical had appealed this decision to the Listing Council, but the appeal was denied. The company disclosed these developments through a press release and an SEC filing. This marks a significant event for Ocean Biomedical as it navigates the implications of being delisted. Investors will be keen to follow how this impacts the company’s future operations and financial strategies.

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