Orchestra BioMed shares are trading higher after the company was granted FDA approval of an investigational device exemption to initiate its global BACKBEAT study evaluating BackBeat CNT for hypertension in pacemaker patients.
Portfolio Pulse from Benzinga Newsdesk
Orchestra BioMed has received FDA approval for an investigational device exemption to start its global BACKBEAT study. The study will evaluate BackBeat CNT for hypertension in pacemaker patients, which has led to a rise in the company's stock.
September 19, 2023 | 2:44 pm
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POSITIVE IMPACT
Orchestra BioMed's stock is trading higher following FDA approval to initiate its global BACKBEAT study. This could potentially lead to increased investor confidence in the company.
The FDA approval for Orchestra BioMed's investigational device exemption is a significant regulatory milestone for the company. This approval allows the company to initiate its global BACKBEAT study, which could potentially lead to a new treatment for hypertension in pacemaker patients. This news is likely to boost investor confidence in the company, leading to a rise in the company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100