OSE Immunotherapeutics (PAR: OSE)

Last close As at 27/03/2024

EUR4.87

−0.07 (−1.32%)

Market capitalisation

EUR108m

OSE Immunotherapeutics (OSE) is based in Nantes and Paris in France and is listed on the Euronext Paris exchange. It is developing immunotherapies for the treatment of solid tumours and autoimmune diseases and has established several partnerships with large pharma companies.

OSE has products in development for both immunoncology and immuno-inflammation indications. As a result, the R&D pipeline is diversified and the outlook does not depend on developments in any specific subsector.

Latest Insights

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Healthcare | Flash note

OSE Immunotherapeutics — One step closer to key data readouts

Healthcare | Flash note

OSE Immunotherapeutics — Confidence boost with AbbVie partnership

Healthcare | Flash note

OSE Immunotherapeutics — Encouraging OSE-279 clinical update

OSE-Immunotherapeutics_resized

Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Nidhi Singh

Nidhi Singh

Analyst

Arron Aatkar

Associate analyst

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Key Management

  • Dominique Costantini

    Chairman

  • Nicolas Poirier

    CEO

Balance Sheet

Forecast net debt (€m)

24.5

Forecast gearing ratio (%)

135

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 54.2 20.8 (4.0)
Relative 49.4 12.3 (16.8)
52 week high/low €6.2/€2.7

Financials

OSE Immunotherapeutics has announced the completion of patient enrolment in its Phase II CoTikiS trial, marking another step in the clinical development of its novel anti-IL-7R antibody, OSE-127/Lusvertikimab, in moderate to severe ulcerative colitis (UC). Lusvertikimab is OSE’s most advanced immune-inflammation asset, and we view the upcoming top-line efficacy results (from induction to week 10 and after six months of maintenance; expected by mid-2024) as representing a significant inflection point for the company, following the commencement of Phase III trials for its lead asset, Tedopi, in the US. With this news, we see the upward momentum continuing for OSE, which saw an uplift in sentiment following the recent collaboration agreement with AbbVie (up to $713m with $48m upfront payment) to develop its pre-clinical asset OSE-230 in chronic/severe inflammation.

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2021A 26.3 (13.6) (17.2) (94.82) N/A N/A
2022A 18.3 (15.0) (18.0) (97.28) N/A N/A
2023E 2.7 (25.3) (26.2) (134.05) N/A N/A
2024E 15.0 (18.5) (21.8) (98.48) N/A N/A

Thematics

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