Brief: Onward Medical Says Has A Cash Runway Through Mid-2025

ONWARD Medical

25/04/2024 06:37

April 25 (Reuters) - Onward Medical NV  ONWD.BR :
    * SUBMITTED FDA DE NOVO APPLICATION FOR ARC-EX**®**SYSTEM
    * SUCCESSFULLY RAISED EUR 20M IN EQUITY CAPITAL
    * ANNOUNCED POSITIVE TOP-LINE RESULTS FROM UP-LIFT PIVOTAL
STUDY
    * COMPANY ENDED YEAR WITH NET CASH OF EUR 29.8M (2022: EUR
61.8M)
    * COMPANY HAS A CASH RUNWAY THROUGH MID-2025
    * FOR 2023, COMPANY REPORTED AN OPERATING LOSS OF EUR 35.5M
COMPARED TO EUR 32.0M IN 2022
    * COMPANY REALIZED A NET LOSS FOR PERIOD OF EUR 36.2M VERSUS
EUR
32.8M IN 2022 DRIVEN BY LOWER GRANT INCOME AND HIGHER OPERATING
EXPENSES

Source text for Eikon: https://ir.onwd.com/news-events
Further company coverage:  ONWD.BR 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))