KBC Securities - ONWARD MEDICAL NV (ONWD) Onward Medical FIRST LOOK: First-in-human implant of new ARC-IM lumbar lead

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KBC Securities

Thomas Vranken

Onward Medical FIRST LOOK: First-in-human implant of new ARC-IM lumbar lead

Onward announced the first-in-human use of its new lumbar (lower back) lead for ARC-IM, that could deliver targeted stimulation to restore lower limb mobility (e.g., standing & walking). We see this as an important clinical milestone, while we expect the company to continue to prioritize the commercial launch of ARC-EX and the start of the pivotal Empower BP trial with ARC-IM for blood pressure control. We reiterate our € 10.4 TP and Buy rating.

26/03/2025 1 EN

Underlying

ONWARD MEDICAL NV

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NL0015000HT4 Euronext Brussels Netherlands

Provider

KBC Securities

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

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Analysts

Thomas Vranken

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Onward Medical FIRST LOOK: First-in-human implant of new ARC-IM lumbar lead

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

Morning Notes : COLR BB, FLOB BB, KIN BB, MAAT FP, ONWD BB

Onward Medical 2024 was a transformational year, 2025 to scale commercialization

ONWARD Medical Reports Full Year 2024 Financial and Operating Results and Shares 2025 Year-to-Date Highlights

Heineken Feedback conference call

Heineken FIRST LOOK: 1Q beer volume -2.1%, FY guidance maintained

ASML Weaker order intake, disappointing 2Q25 outlook, strong GPm

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