ONWARD-MEDICAL-N.V.
21.3.2022 17:47:09 CET | Business Wire | Press release
THIS PRESS RELEASE CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE EUROPEAN MARKET ABUSE REGULATION (596/2014).
ONWARD Medical N.V. (Euronext: ONWD), the medical technology company creating innovative therapies to restore movement, independence, and health in people with spinal cord injury, today announces its current cash balance is expected to fuel operations through the end of 2024. The company’s strong cash position will mitigate the impact of industry-wide supply chain challenges that may affect certain development programs.
Global microprocessor shortages and the scarcity of other components are expected to impact development and commercialization timing for both of the company’s technology platforms. Assuming normal regulatory authorization windows, the company now expects its ARCEX platform to be ready for commercialization in 2H 2023. It expects its ARCIM platform to be ready for commercialization in 2H 2025.
“Many companies and industries have been affected by supply chain challenges. To limit our downside, we have worked with determination to source critical components and assure continuity of supply in order to fulfill our mission to help people with spinal cord injury live better lives,” said Dave Marver, CEO of ONWARD. “We have a strong balance sheet, with cash to propel operations through the end of 2024, and we will look for opportunities to further strengthen our cash position as equity capital markets improve in the US and across the globe.”
To learn more about ONWARD’s ARC Therapy and the company’s vision to restore movement, independence and health in people with spinal cord injury, please visit ONWD.com .
About ONWARD
ONWARD is a medical technology company creating innovative therapies to restore movement, independence, and health in people with spinal cord injury. ONWARD’s work builds on more than a decade of basic science and preclinical research conducted at the world’s leading neuroscience laboratories. ONWARD’s ARC Therapy, which can be delivered by implantable (ARCIM ) or external (ARCEX ) systems, is designed to deliver targeted, programmed stimulation of the spinal cord to restore movement and other functions in people with spinal cord injury, ultimately improving their quality of life. ONWARD has received three Breakthrough Device Designations from the FDA encompassing both ARCIM and ARCEX . The company’s first FDA pivotal trial, called Up-LIFT, completed enrollment in December 2021 with 65 subjects worldwide.
ONWARD is headquartered at the High Tech Campus in Eindhoven, the Netherlands. It maintains an office in Lausanne, Switzerland and has a growing U.S. presence in Boston, Massachusetts, USA. For additional information about the company, please visit ONWD.com . To access our 2022 Financial Calendar, please visit IR.ONWD.com .
Disclaimer
Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company or, as appropriate, the Company directors’ current expectations and projections about future events. By their nature, forward-looking statements involve a number of 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, 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220321005642/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Mary Kay Extends Winning Streak With Fourth Year as #1 in Global Direct Selling Beauty23.6.2026 14:03:00 CEST | Press release
Euromonitor International Recognizes Mary Kay’s Sustained Leadership In Skin Care And Color Cosmetics Mary Kay Inc., the iconic beauty and entrepreneurship company, has once again been named the #1 Direct Selling Brand of Skin Care and Color Cosmetics in the World1 by Euromonitor International, sustaining its legacy of excellence for the fourth consecutive year. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623487381/en/ Mary Kay Inc., the iconic beauty and entrepreneurship company, for the fourth year in a row has been named the #1 Direct Selling Brand of Skin Care and Color Cosmetics in the World by Euromonitor International. (Image Credit: Mary Kay Inc.) “Earning the #1 global ranking from Euromonitor for the fourth consecutive year comes as a powerful endorsement of the impact of our Independent Beauty Consultants around the world who drive our success every day,” said Ryan Rogers, Chief Executive Officer of Mary Kay
Kobie 2026 Heart of Loyalty Report Reveals Growing Gap Between Consumer Expectations and Brand Loyalty Strategies23.6.2026 14:00:00 CEST | Press release
Global study finds consumers are more ready for AI, more willing to share data, and more motivated by recognition and shared values than many brands realize Kobie, a global leader in loyalty technology and services, today released its 2026 Heart of Loyalty Report, which surveyed both consumers and practitioners, revealing significant gaps between consumer expectations and brand loyalty strategies across AI adoption, data sharing, recognition, advocacy, and community engagement. Kobie's 2026 Heart of Loyalty Report found that: 57% of consumers are willing to engage with AI-powered brand experiences, yet 56% of loyalty practitioners believe customers are not ready for AI. 77% of consumers want recognition from brands, but only 55% feel seen as individuals. 72% of consumers say they would refer a brand without an incentive, yet many referral strategies remain heavily dependent on rewards. Rewards are the strongest driver of willingness to share personal data, yet only 65% of practitioners
Veristat Strengthens Biostatistics, Drug Development Advisory, and People Leadership to Support Growth in Complex Clinical Development23.6.2026 13:05:00 CEST | Press release
Dr. Zhaohui Su and Dr. Gil Fine deepen Veristat’s biostatistics expertise, Scott Tarrant leads Strategic Drug Development Advisory, and Clint Wolfe joins as Chief Human Resources Officer VeristatTM, a global clinical research organization (CRO) and consultancy specializing in complex studies, today announced four strategic leadership hires that advance its mission to accelerate novel therapy approvals in complex disease areas, including cell and gene therapy, oncology, and rare disease. Building on its 30-year foundation in biostatistics and its recent acquisition of the medical writing and regulatory submission business of Certara, Veristat is deepening its scientific expertise and expanding its operational leadership to meet growing client demand. Dr. Zhaohui Su and Dr. Gil Fine join Veristat’s Strategic Drug Development Advisory team in biostatistical leadership roles, collaborating with Scott Tarrant, who has been named Executive Vice President of the team. In addition, Clint Wolfe
Bacardi Takes Full Ownership of TEELING® Irish Whiskey23.6.2026 13:00:00 CEST | Press release
Irish whiskey brand joins family-owned company’s portfolio of premium brands Bacardi Limited has announced the completion of a transaction that makes the family-owned company the sole owner of the Teeling Whiskey Company and the TEELING® Irish whiskey brand. Founders Jack and Stephen Teeling will remain a part of the brand, shaping its future and driving growth for the long term as strategic advisors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623858211/en/ Three expressions of Teeling Irish Whiskey: Single Grain, Small Batch and Single Malt Today’s announcement follows the successful relationship the two companies have enjoyed since Bacardi acquired a minority stake in the Dublin-based whiskey company in 2017. Bacardi subsequently increased its stake to become the majority shareholder in 2022. “TEELING is the perfect fit for Bacardi,” says Mahesh Madhavan, Chief Executive Officer, Bacardi Limited. “The brand stands f
Bending Spoons S.p.A. announces launch of initial public offering23.6.2026 12:15:00 CEST | Press release
Bending Spoons S.p.A. (“Bending Spoons”), a leading technology company, today announces the launch of its initial public offering (the “IPO”) of its ordinary shares. A total of 57,971,015 ordinary shares are being offered, of which 34,398,640 are being offered by Bending Spoons and 23,572,375 are being offered by certain selling shareholders (the “Selling Shareholders”). In connection with the offering, Bending Spoons and the Selling Shareholders have granted the underwriters a 30-day option to purchase up to an additional 5,244,026 ordinary shares from Bending Spoons and an additional 3,451,626 ordinary shares from the Selling Shareholders at the IPO price, less underwriting discounts and commissions. The IPO price is currently estimated to be between $26.00 and $28.00 per share. Bending Spoons has applied to list its ordinary shares on the Nasdaq Global Select Market under the ticker symbol “BSP.” Goldman Sachs International, J.P. Morgan, and Allen & Company LLC are acting as joint l
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom