Orchestra BioMed Holdings, Inc. reported a total revenue of $868,620 for the first quarter of 2025, a significant increase of 40% compared to $620,248 in the same period of 2024. The revenue growth was driven by a 47% rise in partnership revenue, which reached $732,000, up from $497,000, and a modest increase in product revenue, which rose to $136,000 from $123,000. Despite this revenue growth, the company experienced a net loss of $18.8 million for the quarter, compared to a net loss of $13.5 million in the prior year, reflecting a 39% increase in losses.
The company's expenses also rose, totaling $19.8 million for the first quarter of 2025, up from $15.0 million in the same quarter of 2024. This increase was primarily attributed to a 48% rise in research and development expenses, which amounted to $13.5 million, driven by ongoing clinical studies and development activities for its product candidates. Selling, general, and administrative expenses also increased slightly by 6% to $6.3 million. The company’s accumulated deficit as of March 31, 2025, stood at $328.6 million, highlighting the ongoing financial challenges it faces.
In terms of strategic developments, Orchestra BioMed has been actively pursuing partnerships to enhance its product pipeline. The company is engaged in a collaboration with Terumo Medical Corporation for the development and commercialization of its Virtue Sirolimus AngioInfusion Balloon (Virtue SAB) and has entered into an agreement with Medtronic for its atrioventricular interval modulation (AVIM) therapy. The company is currently preparing to initiate a pivotal study for Virtue SAB in the second half of 2025, following recent FDA approvals for its investigational device exemption.
Operationally, Orchestra BioMed has seen an increase in its workforce, which has contributed to higher personnel-related expenses. The company is focused on advancing its clinical studies, particularly the BACKBEAT study for AVIM therapy, which is expected to enroll 500 patients. As of March 31, 2025, the company had $18.4 million in cash and cash equivalents, alongside $31.5 million in marketable securities, indicating a need for additional capital to sustain operations in the coming year.
Looking ahead, Orchestra BioMed acknowledges the substantial doubt regarding its ability to continue as a going concern, given its current cash position and ongoing losses. The company plans to explore various financing options, including potential equity offerings and additional partnerships, to secure the necessary funds to support its operations and product development initiatives. The management remains optimistic about the future, contingent on successful execution of its clinical trials and strategic collaborations.
About Orchestra BioMed Holdings, Inc.
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