Report
Onward Medical NV - On track for product revenue by year-end
• This morning, ONWD announced submission of its de novo ARC-EX dossier for arm & hand mobility. Clearly positive news but expected, keeping in mind that the company recently cleared the last hurdle (safety testing). • Approval expected within 5-9 months from now depending also on the communication ping-pong between the FDA and ONWD. The timing of this submission reassures us that they'll be able to generate the first product revenue by the end of the year. • No impact on estimates and investment case as we already pencil in the launch for late this year. Buy rating reiterated as
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ONWARD MEDICAL NV
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Degroof Petercam
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