Shares of Orchestra BioMed Holdings Inc. (OBIO) are up over 30% at $3.90 in premarket trading Tuesday, on news of the FDA granting Breakthrough Device Designation for atrioventricular interval modulation therapy.
The AVIM therapy is currently being evaluated under an FDA investigational device exemption ("IDE") in a global pivotal study, dubbed BACKBEAT, which is being conducted by Orchestra BioMed in collaboration with Medtronic plc (MDT).
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.