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Ondine Biomedical, Inc. (OBI) AI Stock Analysis

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GB:OBI

Ondine Biomedical, Inc.

(LSE:OBI)

Select Model
Rating:44Neutral
Price Target:GBX 10.00▲(2.56% Upside)
Action:reiterated
Date:09/12/26

The score is primarily held back by very weak financial quality—extreme losses, declining gross margin, and worsening cash burn that elevates financing risk. Technicals also weigh negatively, with the stock trading below major moving averages and weak momentum signals. Valuation is difficult to support due to negative earnings and no indicated dividend yield, resulting in a cautious overall rating.

Positive Factors
Revenue GrowthThe latest annual revenue increase indicates improving commercial traction and a growing base from which the company can develop its antimicrobial platform. If sustained, this expansion could provide greater operating scale and help support future investment in product development and commercialization.
Negative Factors
Severe Profitability WeaknessExtremely negative profitability and the sharp gross-margin decline show that revenue growth has not yet translated into a sustainable earnings model. Persistently weak margins can constrain reinvestment capacity, increase dependence on financing, and make future scaling less economically certain.

Ondine Biomedical, Inc. (OBI) vs. iShares MSCI United Kingdom ETF (EWC)

-40%-30%-20%-10%0%10%20%30%GB:OBI-25.00%EWC+21.27%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
GBP 62.82M
Dividend Yield
―
Average Volume (3M)
624.92K
Price to Earnings (P/E)
-2.8
Beta (1Y)
0.30
Revenue Growth
26.99%
EPS Growth
4.36%
Country
UK
Employees
18
Sector
Healthcare
Sector Strength
51
Industry
Biotechnology

Ondine Biomedical, Inc. Business Overview & Revenue Model

Company Description

Ondine Biomedical Inc., a life sciences firm, specializes in the research, development, and commercialization of advanced antimicrobial photodisinfection therapies, operating both within Canada and internationally. Its foundational technology is Phot...

How the Company Makes Money

Publicly available, specific details of Ondine Biomedical, Inc.’s (OBI’s) current revenue model, key revenue streams (e.g., product sales, licensing/royalties, services), and material commercial partnerships are null. At a high level, companies comme...

Ondine Biomedical, Inc. Financial Statement Overview

Summary

Revenue growth is strong (2025 up ~18% vs. 2024), but profitability is extremely weak (net margin around -1,116%) and gross margin fell sharply (~64% to ~41%). Cash flow is a major concern with worsening operating cash burn (~-£23.9M in 2025 vs. ~-£15.5M in 2024) and similarly negative free cash flow, increasing funding/financing risk despite modest leverage (debt-to-equity ~0.12).

Income Statement

24Negative

Balance Sheet

56Neutral

Cash Flow

20Very Negative
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue2.85M2.65M2.05M1.20M638.00K2.57M
Gross Profit1.26M1.09M1.32M703.00K287.00K1.25M
EBITDA-32.52M-29.45M-18.49M-13.79M-18.85M-48.36M
Net Income-32.83M-29.59M-19.10M-14.41M-19.37M-50.09M
Balance Sheet
Total Assets8.95M14.40M12.82M5.73M16.57M34.14M
Cash, Cash Equivalents and Short-Term Investments5.36M10.58M9.77M2.98M13.13M30.36M
Total Debt278.87K413.50K168.00K541.00K896.00K739.00K
Total Liabilities12.17M10.91M5.95M3.65M4.92M4.48M
Stockholders Equity-3.22M3.49M6.88M2.08M11.64M29.66M
Cash Flow
Free Cash Flow-26.80M-24.02M-15.50M-13.83M-16.66M-12.62M
Operating Cash Flow-26.60M-23.90M-15.49M-13.65M-16.34M-12.54M
Investing Cash Flow-203.77K-117.28K-10.00K-177.00K-311.00K-77.00K
Financing Cash Flow26.67M24.28M21.74M3.79M-275.00K41.90M

Ondine Biomedical, Inc. Technical Analysis

Technical Analysis SentimentNegative
Last Price9.75

Price Trends

50DMA10.44Negative
100DMA12.20Negative
200DMA11.76Negative

Market Momentum

MACD-0.21Negative
RSI41.46Neutral
STOCH16.67Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:OBI, the sentiment is Negative. The current price of 9.75 is below the 20-day moving average (MA) of 9.80, below the 50-day MA of 10.44, and below the 200-day MA of 11.76, indicating a bearish trend. The MACD of -0.21 indicates Negative momentum. The RSI at 41.46 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:OBI.

Ondine Biomedical, Inc. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (51)

Financial Indicators

GB:OBI against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
GB:ONTGB:ONT59NeutralGBP 2.18B-17.72-27.36%―14.80%16.88%
GB:SBTXGB:SBTX59NeutralGBP 13.61M-29.17-5.25%―95.16%85.60%
GB:4BBGB:4BB52NeutralGBP 82.07M-4.57-316.73%―-56.10%-16.77%
Sector *51Neutral$7.86B-0.30-43.30%2.27%22.53%-2.21%
GB:POLBGB:POLB46NeutralGBP 49.62M-8.33-71.28%――31.58%
GB:OBIGB:OBI44NeutralGBP 64.47M-2.83-9999.00%―26.99%4.36%
GB:AVCTGB:AVCT43NeutralGBP 294.51M-6.63-1293.07%―――

* Healthcare Sector Average

Performance Comparison

-50%0%50%100%GB:OBIGB:AVCTGB:SBTXGB:4BBGB:POLBGB:ONTDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
GB:OBI and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
GB:OBIOndine Biomedical, Inc.9.75-3.00-23.53%
GB:AVCTAvacta Group plc60.50-11.50-15.97%
GB:SBTXSkinBioTherapeutics plc5.25-10.88-67.44%
GB:4BB4basebio UK Societas530.00-255.00-32.48%
GB:POLBPoolbeg Pharma Ltd.6.502.6568.83%
GB:ONTOxford Nanopore Technologies PLC222.6087.1064.28%

Ondine Biomedical, Inc. Corporate Events

Business Operations and Strategy

Ondine Biomedical’s Phase 3 Trial Shows 40% Cut in Surgical Site Infections

Positive
Sep 10, 2026

Ondine Biomedical reported strong topline results from its 5,188-patient Phase 3 LANTERN trial evaluating its nasal photodisinfection therapy to prevent surgical site infections across 18 hospitals in the U.S. and Canada. The study met its primary ef...

Business Operations and StrategyProduct-Related Announcements

Ondine Biomedical Launches Steriwave Infection-Prevention Pilot with Mexico’s Hospital Ángeles

Positive
Sep 7, 2026

Ondine Biomedical has partnered with Mexico’s Hospital Ángeles Health System to pilot its Steriwave nasal photodisinfection therapy in two flagship hospitals, Acoxpa in Mexico City and Valle Oriente in Monterrey. The initiative follows pos...

Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance

Ondine’s Phase 3 Trial Shows 40% Cut in Surgical Site Infections

Positive
Sep 1, 2026

Ondine Biomedical has reported positive topline results from its Phase 3 LANTERN trial, which tested its nasal photodisinfection technology as an add-on to standard care for preventing surgical site infections. The study enrolled 5,188 patients acros...

Business Operations and StrategyProduct-Related Announcements

Ondine’s Steriwave Adopted by Scotland’s Largest Joint Replacement Centre

Positive
Jul 30, 2026

NHS Golden Jubilee, the UK’s largest hip and knee replacement centre and a key provider of elective orthopaedic care in Scotland, has become the first hospital in the country to adopt Ondine Biomedical’s Steriwave nasal photodisinfection...

Business Operations and StrategyProduct-Related Announcements

Ondine Biomedical Narrows Timeline for Phase 3 LANTERN Trial Results

Positive
Jul 13, 2026

Ondine Biomedical has updated the expected timing for topline results from its LANTERN Phase 3 pivotal study of its nasal photodisinfection therapy to cut surgical site infections, with data now anticipated in about six weeks as final data management...

Business Operations and StrategyProduct-Related Announcements

Ondine Showcases Steriwave at Photodynamic Forum as Phase 3 Trial Advances

Positive
Jul 1, 2026

Ondine Biomedical, a developer of non-antibiotic, light-activated antimicrobial therapies, is building a portfolio around its Steriwave nasal photodisinfection platform and related photodisinfection products for a range of infection-related indicatio...

Executive/Board ChangesShareholder Meetings

Ondine Biomedical shareholders back board and auditors at AGM

Positive
Jun 30, 2026

Shareholders of Ondine Biomedical Inc. unanimously backed the re-election of chair Carolyn Cross and president Nicolas G. Loebel at the company’s 30 June Annual General Meeting, with all other director nominees also securing strong support desp...

Business Operations and StrategyProduct-Related Announcements

Ondine’s Steriwave Cuts Skull-Base Surgery Infections by 78% in Leeds Study

Positive
Jun 30, 2026

Ondine Biomedical reported that a study from Leeds Teaching Hospitals has been published showing its Steriwave nasal photodisinfection system significantly outperforms standard mupirocin-based care in endoscopic anterior skull-base surgery. The singl...

Business Operations and StrategyProduct-Related Announcements

Ondine Nears Top-Line Data from Landmark Phase 3 Study of Nasal Photodisinfection

Positive
Jun 22, 2026

Ondine Biomedical has announced progress in its LANTERN Phase 3 pivotal trial evaluating its non-antibiotic nasal photodisinfection technology for reducing surgical site infections. Endpoint adjudication is complete, principal investigators are final...

Business Operations and StrategyProduct-Related Announcements

Ondine’s nasal photodisinfection cuts infections in complex brain surgery

Positive
Jun 18, 2026

Ondine Biomedical reported interim results from a 189-patient study at Leeds Teaching Hospitals showing that its Steriwave nasal photodisinfection, applied immediately before complex brain surgery performed through the nose, reduced surgical site inf...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Sep 12, 2026