OSE Immunotherapeutics (PAR: OSE)

Last close As at 22/02/2024

EUR3.34

−0.01 (−0.30%)

Market capitalisation

EUR73m

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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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 (11.889) (25.4749) (37.4296)
Relative (17.1094) (31.3669) (41.6175)
52 week high/low €6.2/€2.7

Financials

OSE and its pharma partners have made progress with all clinical and preclinical assets. The final analysis of the data from the most advanced trial in OSE’s pipeline, the Phase III ATALANTE-1 study investigating lung cancer vaccine Tedopi, revealed a potential path to market and OSE is on track to begin a confirmatory pivotal Phase III trial in 2024. Also in clinical development is the IL-7R-targeting antibody therapy Lusvertikimab for the treatment of ulcerative colitis; an update from the ongoing Phase II study is expected in early 2024. The two partnered assets – OSE-172/BI 765063 and FR104/VEL-101 – are at different stages of clinical development and generate relatively steady licensing fee income. OSE is also focused on the clinical development of OSE-279, an anti-PD1 blocking monoclonal antibody being investigated for the treatment of advanced solid tumours or lymphomas. In October 2023, OSE shared initial positive signs of safety and efficacy from a Phase I/II trial; further readouts are expected in 2024.

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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