Orchestra BioMed (OBIO) Registration Filing summary

Company overview and business model

• Biomedical innovation company focused on accelerating high-impact technologies via risk-reward sharing partnerships with leading medical device firms.

• Strategic collaborations drive global commercialization of late-stage clinical product candidates, including AVIM Therapy for hypertension and Virtue SAB for atherosclerotic artery disease.

• Exclusive license and collaboration agreement with Medtronic for AVIM Therapy; pivotal studies underway for both flagship products.

• Formed in 2018, completed a business combination in January 2023, and operates as a Delaware corporation.

Financial performance and metrics

• As of October 27, 2025, 56,464,731 shares of common stock outstanding.

• Additional shares potentially issuable through warrants, stock options, and restricted stock units.

• Ernst & Young LLP audit report includes a going concern explanatory paragraph.

Use of proceeds and capital allocation

• No proceeds from the sale of shares by selling stockholders, except for potential cash from Ligand Warrant exercise (up to $7.3 million).

• Any proceeds from warrant exercise intended for working capital, R&D, regulatory, clinical trials, capital expenditures, acquisitions, and general corporate purposes.

• Proceeds from Ligand Warrant exercise are not guaranteed and depend on market price; warrant is currently out-of-the-money.