Ondine Biomedical Reports 70% Revenue Growth and Strategic Expansion in 2024

Ondine Biomedical, Inc. ( (GB:OBI) ) has shared an announcement.

Ondine Biomedical Inc. reported a 70% increase in revenue for 2024, driven by an 81% rise in hospital deployments and the inclusion of Steriwave® in the NHS Supply Chain. The company established a strategic partnership with Mölnlycke Health Care to expand its international reach and improved its gross margin to 64%. With a successful capital raise and strategic investment, Ondine is advancing its Phase 3 clinical trial and expanding into the ICU market, despite a delay in patient recruitment. The company continues to invest heavily in clinical trials and operational infrastructure to support future growth.

The most recent analyst rating on (GB:OBI) stock is a Buy with a £50.00 price target. To see the full list of analyst forecasts on Ondine Biomedical, Inc. stock, see the GB:OBI Stock Forecast page.

More about Ondine Biomedical, Inc.

Ondine Biomedical Inc. is a Canadian life sciences company specializing in light-activated antimicrobial therapies, known as photodisinfection. The company has a range of investigational products based on its proprietary technology, with approvals in several countries for its nasal photodisinfection system, Steriwave®, and ongoing clinical trials in the US for regulatory approval.

Average Trading Volume: 154,517

Technical Sentiment Signal: Strong Sell

Current Market Cap: £38.56M

For an in-depth examination of OBI stock, go to TipRanks’ Stock Analysis page.