Ondine stock falls despite HCA’s $4 million investment

Investing.com — Shares of Ondine (LSE:OND) tumbled 4.2% today despite the company reporting that its partner HCA Healthcare (NYSE:) has invested $4 million in new equity in the company.

The price is 8.5p/share, which is the same price as the November 2024 fund-raise. According to RBC, the investment will extend the company’s cash runway to Q4 2025.

RBC analysts commented on the situation, stating, “While Ondine had already indicated that it was having discussions with ‘a major US healthcare group’, which we had assumed was HCA, this is clearly positive news for Ondine, in our view. Not only does it strengthen the balance sheet, but it provides further evidence in HCA’s buy-in to Steriwave, which is currently in Phase 3 clinical trials in its hospitals, and which is expected to complete mid-2025.”

On the other hand, the company also announced the delay in receiving C$5M (approximately £2.8m) from the Canadian private investor. However, Ondine remains optimistic about the completion of the placement.

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