Ondine Biomedical readies for next growth phase with Phase 3 completion and 29% revenue rise

Ondine Biomedical, Inc. ( (GB:OBI) ) has provided an update.

Ondine Biomedical reported significant clinical and commercial momentum for its Steriwave nasal photodisinfection platform as it prepares for its next growth phase. The company has completed patient enrolment of more than 5,000 participants across 18 hospitals in its pivotal LANTERN Phase 3 trial in the U.S. and Canada, with top-line data expected in spring 2026 as it advances toward a New Drug Application with the FDA.

The business highlighted a growing base of real-world evidence from ICU and surgical site infection pilots in Canada, Europe, Mexico, and other markets, including an ICU study at Royal Columbian Hospital showing an 80% reduction in opportunistic pathogen carriage and acceptance for publication in the Journal of Critical Care. Additional pilots at leading centres in the UK, Switzerland, Germany, Spain, Mexico, and Australia are intended to support broader clinical adoption.

Commercially, Ondine recorded unaudited revenue growth of 29% in 2025, driven by new hospital deployments and higher utilisation at existing accounts. The company is pursuing a “land and expand” strategy, adding five new Canadian hospitals in 2026 and benefiting from Steriwave’s classification as an Innovation Product by NHS Supply Chain, which supports visibility and recognition through multiple UK healthcare awards.

To underpin anticipated demand, Ondine is investing in operational scale-up, including facility upgrades, expanded production capacity, and automation for in-house manufacture of photosensitizer applicators. These steps aim to improve margins, strengthen supply chain resilience and audit readiness, and position the company for larger-scale global rollout of its infection-prevention technology.

Spark’s Take on OBI Stock

According to Spark, TipRanks’ AI Analyst, OBI is a Underperform.

Ondine Biomedical, Inc. receives a low overall score due to significant financial performance challenges, bearish technical indicators, and unattractive valuation metrics. The company’s strong revenue growth is overshadowed by its inability to achieve profitability and positive cash flow, while technical analysis suggests continued negative momentum.

To see Spark’s full report on OBI stock, click here.

More about Ondine Biomedical, Inc.

Ondine Biomedical Inc. is a Canadian life sciences company specializing in light-activated antimicrobial therapies, known as photodisinfection, to prevent and treat infections including those caused by multidrug-resistant organisms. Its nasal photodisinfection system, marketed as Steriwave outside the U.S., is approved in multiple countries, holds a CE mark in Europe, and is in U.S. clinical trials with FDA fast track and Qualified Infectious Disease Product designations.

Beyond nasal decolonisation, Ondine is developing photodisinfection-based therapies for chronic sinusitis, ventilator-associated pneumonia, burns, and other indications. The company positions itself as a global leader in hospital infection prevention technology, targeting healthcare systems seeking to reduce serious infections, waiting lists, costs, and antimicrobial resistance.

Average Trading Volume: 227,356

Technical Sentiment Signal: Sell

Current Market Cap: £57.02M

See more insights into OBI stock on TipRanks’ Stock Analysis page.