Salute e Benessere
ONWARD Medical Reports Full Year 2024 Financial and Operating Results and Shares 2025 Year-to-Date Highlights
Received FDA authorization and recorded first commercial sales of ARC-EX System
Secured strategic investment from Ottobock and extended cash runway for two years
Gained exclusive rights to premier brain-computer interface technology
EINDHOVEN, The Netherlands, April 01, 2025 (GLOBE NEWSWIRE) -- ONWARD Medical N.V. (Euronext: ONWD), the medical technology company creating innovative spinal cord stimulation therapies to restore movement, function, and independence in people with spinal cord injury (SCI) and other movement disabilities, today announces its Full Year 2024 Financial and Operating Results.
"2024 was a transformative year for ONWARD , highlighted by our FDA De Novo authorization and first commercial sales of the ARC-EX System," said Dave Marver, CEO of ONWARD Medical. "We strengthened our balance sheet, welcomed Ottobock as a strategic investor and partner, and advanced our technology portfolio by gaining exclusive rights to a premier brain-computer interface (BCI) technology. Our US commercial launch is underway, marking the next chapter in our mission to deliver life-changing therapies to people with spinal cord injuries."
Full Year 2024 and Year-to-Date 2025 Highlights
Clinical and Development
Intellectual Property
In 2024, ONWARD added 20 patents to its IP portfolio. It now has more than 150 issued patents, excluding EP country validations. Including EP country validations, the Company exited 2024 with more than 290 issued patents, strengthening the Company's first-mover advantage.
Commercial Developments and Industry Recognition
Corporate
Financial
2024 results are unaudited
Total Revenues & Other Income
Total Operating Expenses
Net Finance Expenses
Net Loss for the Period
Net Cash Position
2025 Outlook
We expect to achieve several important milestones in 2025:
Engineering, Clinical, and Regulatory Developments
Commercial Developments
Conference Call & Webcast
ONWARD Medical will host a conference call with a live webcast today, April 1, 2025, at 2:00 pm CET / 8:00 am EDT. The 2024 Full Year Report and webcast will be accessible on the Financial Information page of the Company's website. To join the webcast via Zoom, please register using this link.
About ONWARD Medical
ONWARD Medical is a medical technology company creating therapies to restore movement, function, and independence in people with SCI and other movement disabilities. Building on more than a decade of scientific discovery, preclinical research, and clinical studies conducted at leading hospitals, rehabilitation clinics, and neuroscience laboratories, the Company has developed ARC Therapy, which has been awarded ten Breakthrough Device Designations from the US Food and Drug Administration (FDA). The Company's ARC-EX System is now cleared for commercial sale in the US. In addition, the Company is developing an investigational implantable system called ARC-IM with and without an implanted brain-computer interface (BCI).
Headquartered in the Netherlands, the Company has a Science and Engineering Center in Switzerland and a US office in Boston, Massachusetts. The Company is listed on Euronext Paris, Brussels, and Amsterdam (ticker: ONWD).
For more information, visit ONWD.com and connect with us on LinkedIn and YouTube.
To be kept informed about the Company's technologies, research studies, and the availability of therapies in your area, please complete this webform.
For Media Inquiries:
media@onwd.com
For Investor Inquiries:
investors@onwd.com
Disclaimer
Certain statements, beliefs, and opinions in this press release are forward-looking, which reflect the Company's or, as appropriate, the Company directors' current expectations and projections about future events. By their nature, forward-looking statements involve several risks, uncertainties, and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, delays in regulatory approvals, changes in demand, competition, and technology, can cause actual events, performance, or results to differ significantly from any anticipated development. Forward-looking statements contained in this press release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions, or circumstances on which these forward-looking statements are based. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.
Trademarks: ONWARD, ARC-EX, ARC-IM, ARC-BCI, and the stylized O-Logo are proprietary and registered trademarks of ONWARD Medical. Unauthorized use is strictly prohibited.
*ARC-EX Indication for Use (US): The ARC-EX System is intended to deliver programmed, transcutaneous electrical spinal cord stimulation in conjunction with functional task practice in the clinic to improve hand sensation and strength in individuals between 18 and 75 years old that present with a chronic, non-progressive neurological deficit resulting from an incomplete spinal cord injury (C2-C8 inclusive).
Other Investigational Products: All other ONWARD Medical devices and therapies including ARC-IM and ARC-BCI are investigational and not available for commercial use.
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