Canada's Ondine Biomedical H1 revenue jumps on new  hospital deployments

Ondine Biomedical

30/09/2026 07:12

Overview
Canada life sciences firm's H1 revenue rose 23% yr/yr, driven by new hospital deployments
Operating loss widened on higher R&D spend for LANTERN Phase 3 trial
Company launched new equity fundraise to support regulatory and commercial activities

Outlook
Ondine targets a pre-NDA meeting with FDA in Q1 2027 and NDA submission in mid-2027
Company expects R&D spend, operating loss and cash burn to reduce materially post-LANTERN trial

Result Drivers
NEW HOSPITAL DEPLOYMENTS - Co said revenue growth was driven by new hospital deployments and increased utilisation within existing accounts
LANTERN PHASE 3 INVESTMENT - Operating loss widened due to increased R&D spend for LANTERN Phase 3 trial
STABLE SALES & MARKETING SPEND - Sales and marketing expenses held flat while supporting clinical programmes and market development

Company press release: ID:nRSd8605Wa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 EBIT
 
-$15.90 mln
 

Analyst Coverage
The one available analyst rating on the shares is "strong buy"
Wall Street's median 12-month price target for Ondine Biomedical Inc is GBp29.00, about 197.4% above its September 29 closing price of GBp9.75

Reuters Recommended Reads
Sept 29 - France's MaaT Pharma H1 operating loss widens on higher R&D costs
Sept 28 - France's Genfit H1 revenue falls due to absence of milestone payments 
Sept 30 - Switzerland's Santhera Pharma H1 revenue soars on AGAMREE sales, milestones

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)