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Ondine Biomedical Inc., a global leader in light-activated antimicrobial technologies, released its 2024 full-year results and annual report, highlighting significant progress and strong financial performance. The company experienced a 70% revenue growth driven by increased hospital deployments and strategic partnerships, resulting in a 70% increase in revenue to $2.0 million. Gross margins improved to 64%, and successful capital raises brought in $21.7 million in net cash.
The company also made significant clinical progress, initiating a pivotal US Phase 3 trial and establishing a partnership to accelerate entry into the ICU market. Operating losses widened due to increased investments in clinical trials and infrastructure. The companys CEO, Carolyn Cross, expressed confidence in Ondines future plans and ability to deliver value to shareholders, with a focus on sustainable growth and impact. The full annual report and accounts are available online, and a live presentation by the companys CTO will be provided to shareholders and investors.
Overall, Ondine Biomedical Inc. demonstrated strong financial and operational performance in 2024, with a focus on driving growth and expanding its light-activated antimicrobial technologies globally.