Orchestra BioMed completes BACKBEAT Trial enrollment, raises $80.5M, and projects cash runway through 2028.

Orchestra BioMed announced the completion of enrollment for its pivotal BACKBEAT Trial evaluating AVIM Therapy for hypertension, with 349 patients randomized. The company plans to present primary endpoint data at the Heart Rhythm Society 2027 and, pending positive results, Medtronic will submit a Premarket Approval supplement to the FDA. Additionally, enrollment is progressing in the Virtue Trial comparing Virtue SAB to a commercial drug-coated balloon for coronary artery disease. Orchestra BioMed raised approximately $80.5 million in a recent public offering, boosting its cash position to over $180 million, which supports operations through 2028. The company will host an R&D Day to discuss clinical milestones and commercial potential of its therapies.

Medtronic PLC, involved in the FDA approval process for Orchestra BioMed's AVIM Therapy, holds a market cap of $131.48 billion and a dividend yield of 2.8% as of Nov 11, 2026, 04:02 WIB. The stock price is $101.56, down 1.19% on the day, with a trading volume of 5,735,629 shares on Pluang. Investor activity shows a nearly balanced sentiment with 52% selling and 48% buying, reflecting cautious interest in the health sector amid ongoing clinical developments.