ONWARD Medical NV
XBRU:ONWD
ONWARD Medical NV
Onward Medical BV operates as a medical technology company. The company is headquartered in Eindhoven, Noord-Brabant and currently employs 96 full-time employees. The company went IPO on 2021-10-21. The firm is primarily engaged in developing and commercializing innovative therapies to enable functional recovery for people with spinal cord injury. The company develops two technology platforms ARC EX and ARC IM.
Onward Medical BV operates as a medical technology company. The company is headquartered in Eindhoven, Noord-Brabant and currently employs 96 full-time employees. The company went IPO on 2021-10-21. The firm is primarily engaged in developing and commercializing innovative therapies to enable functional recovery for people with spinal cord injury. The company develops two technology platforms ARC EX and ARC IM.
Record Revenue: ONWARD reported its highest-ever quarterly revenue of EUR 1.7 million, reflecting strong commercial momentum.
Regulatory Milestones: The company received CE Mark for ARC-EX in Europe, FDA clearance for U.S. home use, and UL Mark certification, expanding both clinical and home market opportunities.
Clinic Adoption: ARC-EX systems are now in over 60 U.S. clinics, with 40 units sold in Q3 and strong utilization rates reported.
Capital Raise: ONWARD raised over EUR 50 million in new equity, extending its cash runway into Q1 2027 and boosting its net cash position to EUR 77.7 million after the quarter.
European Launch: Commercial rollout began in Germany, Switzerland, Austria, the Netherlands, and the UK, with first European sales expected in Q4.
Home Use Acceleration: U.S. home use clearance sparked a threefold increase in inbound leads; pricing is set about 25% lower than clinic devices to improve access.
Clinical Pipeline: Empower BP pivotal study for ARC-IM has begun site activation, with first enrollment expected soon and potential interim efficacy analysis by late summer.
Strong Demand & Growth Outlook: Management expects robust demand to sustain in Q4 and sees potential for revenue to more than double or triple next year if consensus is met.
