KBC Securities - ONWARD MEDICAL NV (ONWD) Onward Medical FIRST LOOK: Guidance on cash and milestones confirmed

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KBC Securities

Thomas Vranken

Onward Medical FIRST LOOK: Guidance on cash and milestones confirmed

Onward provided additional insights on its FY24 outlook and key milestones. 2024 is set to become the year of first launch, with ARCEX approval expected YE24 pending PCBA redesign and subsequent FDA filing. Meanwhile, ARCIM starts its pivotal trial in blood pressure control as expected. YE23 cash landed at € 29.8m in line with our expectations, and the company reiterates its cash runway until YE24. Buy rating and € 10 TP reiterated.

15/03/2024 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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GlobeNewsWire

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Onward Medical FIRST LOOK: Guidance on cash and milestones confirmed

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

Morning Notes : AKZA NA, ELI BB, MELE BB, UCB BB, ONWD BB

Onward Medical Announces enrolment of first participant in Empower BP trial

ONWARD Medical Announces First Participant Enrolled in Global Pivotal Study Evaluating ARC-IM System to Address Blood Pressure Instability After Spinal Cord Injury

Morning Notes : COLR BB, EVS BB, EKOP BB, CTPNV NA, SYENS BB

CTP A more rational development and accounting strategy

Syensqo Model reset after disappointing FY26 outlook, downgrade to Accumulate

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