Orchestra BioMed Shares Jump on FDA Nod for BackBeat Study
By Dean Seal
Shares of Orchestra BioMed shot higher after federal regulators gave it the go-ahead to start a study examining BackBeat, its atrioventricular interval modulation therapy for treating hypertension in pacemaker patients.
The stock was up 11.7% at $9.43 in early trading. Shares are still in negative territory for the year.
The biomedical company said Tuesday that the U.S. Food and Drug Administration has granted approval of an investigational device exemption that will allow the study to move forward.
Enrollment is expected to begin before the end of the year.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
September 19, 2023 10:04 ET (14:04 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening in the Markets This Week
-
4 Top Dividend-Paying REIT Stock Picks
-
After Earnings, Is Netflix Stock a Buy, a Sell, or Fairly Valued?
-
P-CAPE: A Better Way for Investors to Estimate Future Returns
-
Which Stocks Have Driven the Stealth Large-Value Rally?
-
Forecasts for Q2 GDP Report Show a Healthy but Slowing Economy
-
5 Stocks to Buy as the Market Rally Broadens
-
4 Top US Travel Stock Picks
-
How Do Interest Rates Affect Stock Market Returns?
-
American Airlines Earnings: Ticket Distribution Misstep Affected Results
-
Going Into Earnings, Is Albemarle Stock a Buy, a Sell, or Fairly Valued?
-
3 Top Cybersecurity Stock Picks for Long-Term Investors
-
AbbVie Earnings: Firm Sees Strong Next-Generation Immunology Drugs Sales
-
Ford Earnings: Warranty Problems on Older Vehicles Slam Results
-
ServiceNow Earnings: Operating on a Higher Plane Within Enterprise Software