KBC Securities - ONWARD MEDICAL NV (ONWD) Onward Medical FIRST LOOK: 1Q24 update underpinned by strong Up-LIFT data

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KBC Securities

Thomas Couvreur

Onward Medical FIRST LOOK: 1Q24 update underpinned by strong Up-LIFT data

Onward announced its 1Q24 update, and confirmed its FY24 outlook and key milestones. 2024 is set to become the year of its first launch, with ARCEX approval expected toward YE24. Meanwhile, the pivotal trial in blood pressure control with ARCIM is slated to kick off with first patient in late 2024/early 2025. 1Q24 cash landed at € 42m, which was strengthened by a € 20m equity raise to deliver cash runway into mid-2025.

23/05/2024 1 EN

Underlying

ONWARD MEDICAL NV

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NL0015000HT4 Euronext Brussels Netherlands

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KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Thomas Couvreur

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: OPTI BB, NXFIL NA

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Onward Medical FIRST LOOK: 1Q24 update underpinned by strong Up-LIFT data

We are a financial services provider for several types of professional clients, each with distinct needs.

ONWARD® Medical Obtains Debt Financing with up to €52.5 Million Secured Loan from Runway Growth Capital LLC

ONWARD® Medical Announces Participation in Stifel European Healthcare Summit

ONWARD® Medical to Highlight Brain-Computer Interface at HLTH Europe Conference

Morning Notes : OPTI BB, NXFIL NA

Xior Upgrade to BUY after CiK and new cornerstone investor

Morning Notes : ASRNL NA, PROX BB, XIOR BB

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