OSE Immunotherapeutics (PAR: OSE)

Currency in EUR

Last close As at 06/02/2023

EUR6.01

−0.02 (−0.33%)

Market capitalisation

EUR112m

OSE Immunotherapeutics 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 immunological diseases and various cancer indications. As a result, the R&D pipeline is diversified and the outlook does not depend on developments in any specific subsector.

Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Key Management

  • Alexis Peyroles

    CEO

  • Dominique Costantini

    Chairman

Balance Sheet

Forecast net debt (€m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (10.6) (10.6) (30.3)
Relative (17.6) (21.5) (30.3)
52 week high/low €9.5/€4.8

Financials

OSE Immunotherapeutics has announced the first patient dosing in a new trial, marking the introduction of the company’s fifth asset to clinical development. The first-in-human Phase I/II trial will investigate the use of the company’s proprietary anti-PD-1 monoclonal antibody, OSE-279, in solid tumours or lymphomas. We expect data from this new trial will be important in informing the development of new drug candidates and combinations for the company. The use of anti-PD-(L)1 therapies is commonplace in oncology, but their use can be limited by a lack of response and resistance. Hence, if OSE can demonstrate a competitive profile for OSE-279, we believe the opportunity for the company could be considerable. OSE-279 also forms the backbone of the company’s bifunctional checkpoint inhibitor platform (BiCKI). In our view, this announcement provides further evidence that OSE can consistently bring new projects to the clinic. Our valuation and financial estimates are under review while we incorporate OSE-279 into our assumptions.

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2020A 10.4 (18.1) (18.5) (101.83) N/A N/A
2021A 26.3 (13.6) (16.5) (89.03) N/A N/A
2022E N/A N/A N/A N/A N/A N/A
2023E N/A N/A N/A N/A N/A N/A

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