Orchestra BioMed is a biomedical innovation company accelerating high-impact technologies to patients through risk-reward sharing partnerships with leading medical device companies. Orchestra BioMed’s partnership-enabled business model focuses on forging strategic collaborations with leading medical device companies to drive successful global commercialization of products it develops. Orchestra BioMed’s flagship product candidates include BackBeat Cardiac Neuromodulation Therapy™ (CNT™) for the treatment of hypertension, a significant risk factor for death worldwide, and Virtue® Sirolimus AngioInfusion™ Balloon (SAB) for the treatment of atherosclerotic artery disease, the leading cause of mortality worldwide. Orchestra BioMed has a strategic collaboration with Medtronic, one of the largest medical device companies in the world, for development and commercialization of BackBeat CNT for the treatment of hypertension in pacemaker-indicated patients, and a strategic partnership with Terumo Corporation, a global leader in medical technology, for development and commercialization of Virtue SAB for the treatment of artery disease. Orchestra BioMed has additional product candidates and plans to potentially expand its product pipeline through acquisitions, strategic collaborations, licensing, and organic development. For further information about Orchestra BioMed, please visit www.orchestrabiomed.com.
Company profile
Ticker
OBIO, HSAQ
Exchange
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
3M • Baxter International • Boston Scientific • Stryker • Becton, Dickinson And • Teleflex • Resmed • Haemonetics • Hill-Rom • Nuvasive ...
Former names
Health Sciences Acquisitions Corp 2
SEC CIK
Corporate docs
Subsidiaries
HSAC Olympus Merger Sub, Inc. ...
OBIO stock data
Latest filings (excl ownership)
8-K
Entry into a Material Definitive Agreement
31 Jan 23
10-K
2022 FY
Annual report
25 Jan 23
425
Business combination disclosure
25 Jan 23
8-K
Departure of Directors or Certain Officers
25 Jan 23
8-K
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard
24 Jan 23
8-K
Other Events
23 Jan 23
425
Business combination disclosure
10 Jan 23
8-K
Material Modifications to Rights of Security Holders
21 Dec 22
EFFECT
Notice of effectiveness
19 Dec 22
424B3
Prospectus supplement
16 Dec 22
Latest ownership filings
4
Change in insider ownership
1 Feb 23
3
Initial statement of insider ownership
1 Feb 23
4
Yuval Mika
30 Jan 23
4
Michael Kaswan
30 Jan 23
4
Connealy Pamela Yanchik
30 Jan 23
4
Joshua Aiello
30 Jan 23
4
Jason Aryeh
30 Jan 23
4
Eric S Fain
30 Jan 23
4
ERIC A MD ROSE
30 Jan 23
4
David P Hochman
30 Jan 23
Financial summary
| Quarter (USD) | Dec 22 | Sep 22 | Jun 22 | Mar 22 | |
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| Diluted EPS |
| Annual (USD) | Dec 22 | Dec 21 | Dec 20 | |
|---|---|---|---|---|
| Revenue | ||||
| Cost of revenue | ||||
| Operating income | ||||
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| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 175.16 k | 175.16 k | 175.16 k | 175.16 k | 175.16 k | |
| Cash burn (monthly) | 186.69 k | 131.61 k | 292.24 k | 256.69 k | 89.21 k | |
| Cash used (since last report) | 205.28 k | 144.72 k | 321.35 k | 282.26 k | 98.09 k | |
| Cash remaining | -30.12 k | 30.44 k | -146.19 k | -107.09 k | 77.07 k | |
| Runway (months of cash) | -0.2 | 0.2 | -0.5 | -0.4 | 0.9 | |
Institutional ownership, Q3 2022
89.7% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 24 |
| Opened positions | 4 |
| Closed positions | 42 |
| Increased positions | 2 |
| Reduced positions | 9 |
| 13F shares | Current |
|---|---|
| Total value | 112.26 mm |
| Total shares | 10.06 mm |
| Total puts | 0.00 |
| Total calls | 0.00 |
| Total put/call ratio | – |
| Largest owners | Shares | Value |
|---|---|---|
| HSAC 2 | 4.36 mm | $55.86 mm |
| RTW Investments | 1.00 mm | $9.90 mm |
| BLK Blackrock | 790.44 k | $7.83 mm |
| T. Rowe Price | 724.57 k | $7.18 mm |
| Ra Capital Management | 610.28 k | $6.04 mm |
| Boxer Capital | 400.00 k | $3.96 mm |
| EcoR1 Capital | 400.00 k | $3.96 mm |
| Avidity Partners Management | 400.00 k | $3.96 mm |
| Tang Capital Management | 392.50 k | $3.89 mm |
| Sio Capital Management | 250.00 k | $2.48 mm |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 30 Jan 23 | Medtronic | Common Stock | Buy | Acquire P | Yes | No | 9.281 | 6,835 | 63.44 k | 4,999,423 |
| 26 Jan 23 | Geoffrey Wade Smith | Common Stock | Grant | Acquire A | Yes | No | 0 | 256,623 | 0.00 | 256,623 |
| 26 Jan 23 | Geoffrey Wade Smith | Common Stock | Grant | Acquire A | Yes | No | 0 | 1,049,224 | 0.00 | 1,049,224 |
| 26 Jan 23 | Geoffrey Wade Smith | Common Stock | Grant | Acquire A | Yes | No | 0 | 201,319 | 0.00 | 201,319 |
| 26 Jan 23 | Geoffrey Wade Smith | Common Stock | Grant | Acquire A | No | No | 0 | 3,488 | 0.00 | 3,488 |
| 26 Jan 23 | Geoffrey Wade Smith | Stock Options Common Stock | Grant | Acquire A | No | No | 10 | 23,250 | 232.50 k | 23,250 |
| 26 Jan 23 | Geoffrey Wade Smith | Stock Options Common Stock | Grant | Acquire A | No | No | 4.3011 | 6,975 | 30.00 k | 6,975 |
| 26 Jan 23 | Geoffrey Wade Smith | Stock Options Common Stock | Grant | Acquire A | No | No | 4.3011 | 18,600 | 80.00 k | 18,600 |
| 26 Jan 23 | Geoffrey Wade Smith | Warrants Common Stock | Grant | Acquire A | Yes | No | 21.5054 | 519 | 11.16 k | 519 |
| 26 Jan 23 | Geoffrey Wade Smith | Warrants Common Stock | Grant | Acquire A | Yes | No | 21.5054 | 136,097 | 2.93 mm | 136,097 |