Ondine reported a loss from operations for 2021 in line with expectations at C$17.5m on revenues of C$2.6m and had a healthy net cash balance of C$29.9m at year end following the company's IPO in December. Crucially, the Phase 2 clinical trial of Ondine's photodisinfection system is on target to complete patient recruitment by mid-year and Ondine is working closely with HCA on the multicentre Phase 3 study plans. We reiterate our Buy recommendation and 160p Target Price.
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Ondine Biomedical* - FY21 results – Phase 2 on target for mid-year
- Published:
19 May 2022 -
Author:
Colin Smith -
Pages:
2
Ondine reported a loss from operations for 2021 in line with expectations at C$17.5m on revenues of C$2.6m and had a healthy net cash balance of C$29.9m at year end following the company's IPO in December. Crucially, the Phase 2 clinical trial of Ondine's photodisinfection system is on target to complete patient recruitment by mid-year and Ondine is working closely with HCA on the multicentre Phase 3 study plans. We reiterate our Buy recommendation and 160p Target Price.