Ondine announced today that it has agreed to a private placement financing in exchange for common shares from new third-party private investors in Canada to support commercial growth. We view this as a positive step in addressing the company’s funding requirements. The additional capital provides optionality and may act as a catalyst for additional funding sources to be unlocked. Furthermore, on the back of yesterday’s news of the collaboration with Mölnlycke Health Care (MHC), we potentially see positive momentum coming back to the shares. Interims are expected on September 30 and we maintain our forecasts ahead of these.