Orchestra BioMed Plunges 11.76% After $40M Equity Raise

Orchestra BioMed's stock price plummeted by 11.76% in pre-market trading on August 1, 2025, following a significant equity raise.

Orchestra BioMed recently announced a $40 million public offering, which included 9.41 million common shares and 5.14 million pre-funded warrants. This move was part of the company's strategy to secure additional funding for its operations and growth initiatives.

In addition to the public offering, Orchestra BioMed secured a $70 million investment from Ligand and Medtronic. Ligand will contribute $40 million, with $20 million paid at closing and an additional $15 million to be funded at the nine-month anniversary of the closing, subject to certain conditions. This strategic investment is aimed at supporting Orchestra BioMed's ongoing research and development efforts.