Orchestra BioMed reported strong financial results for 2024, focused on developing groundbreaking therapies.

From GlobeNewswire: 2025-03-31 16:21:00

Orchestra BioMed Holdings, Inc. reported its full year 2024 financial results and provided a fourth quarter business update. The company is focused on the BACKBEAT global pivotal study, aiming to establish AVIM therapy as a new standard of care for uncontrolled hypertension in patients indicated for a pacemaker. Additionally, progress is being made on the Virtue SAB program, with plans to initiate a U.S. coronary pivotal study. The company has also enhanced its board of directors and senior leadership team. Financially, Orchestra BioMed had $66.8 million in cash and cash equivalents and marketable securities as of December 31, 2024.

AVIM therapy, also known as BackBeat CNT™, is an investigational therapy designed to lower blood pressure in patients with hypertension. The BACKBEAT global pivotal study is evaluating the safety and efficacy of AVIM therapy in hypertensive pacemaker patients. Virtue SAB is another product candidate in development for the treatment of artery disease, delivering an extended-release formulation of sirolimus to the vessel wall during balloon angioplasty. Orchestra BioMed has a strategic collaboration with Medtronic and Terumo for the development and commercialization of these products. The company operates in a competitive environment and cautions against placing undue reliance on forward-looking statements.



Read more at GlobeNewswire: Orchestra BioMed Reports Full Year 2024 Financial Results