Orchestra BioMed Q3 2026 net loss narrows 10% year over year to $18.75 million
OBIO•Orchestra BioMed reported a third-quarter net loss attributable to common stockholders of $19.6 million, down 6% year over year, while revenue fell 89% to $91,000. An $80.5 million offering extended projected cash runway through 2028, and the BACKBEAT trial completed enrollment.
1. Quarterly results
Orchestra BioMed’s third-quarter 2026 net loss attributable to common stockholders narrowed 6% year over year to $19.6 million. Revenue fell 89% to $91,000, while research and development expenses rose 26% to $17.7 million.
2. Cash and trial update
A public offering that closed November 9 raised $80.5 million in net proceeds, extending projected cash runway through 2028. The pivotal BACKBEAT trial of AVIM Therapy completed enrollment, with 349 patients randomized, exceeding its target.
3. Results timeline
Primary endpoint results are planned for submission for a late-breaking presentation at HRS 2027. Medtronic’s regulatory filing is contingent on positive results.
