OSE Immunotherapeutics - Edison Group

Overview
Price performance
Financials
Research
Thematics

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 immunooncology 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 |
Update

21.11.24

OSE Immunotherapeutics — Full Lusvertikimab results reflect potential in UC

Healthcare |
Update

09.10.24

OSE Immunotherapeutics — Riding the H124 tailwinds

Healthcare |
Flash note

11.09.24

OSE Immunotherapeutics — Tedopi registrational study commences

Healthcare |
Flash note

26.07.24

OSE Immunotherapeutics — Lusvertikimab shines in Phase II UC trial

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Sector

Healthcare

Equity Analyst

Analyst

Jyoti Prakash

Analyst, Healthcare

Key Management

Dominique Costantini

Chairman
Nicolas Poirier

CEO

Balance Sheet

Forecast net cash (€m)

35.2

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(12.0)	18.5	86.8
Relative	(7.0)	23.0	88.2
52 week high/low	€10.7/€3.2

Financials

OSE Immunotherapeutics’ final analysis of the CoTikiS trial in ulcerative colitis (UC) confirmed that Lusvertikimab met the primary endpoint with statistical significance, highlighting its potential to offer a clinically meaningful solution for the condition. In our view, this marks a positive step forward for the candidate, which, to our knowledge, has a unique mechanism of action to address chronic inflammatory and autoimmune diseases. We believe that OSE plans to advance this programme to the next stages of development (Phase IIb or Phase III) once a partner is onboard. Based on the encouraging full results, we have increased our probability of success for Lusvertikimab in UC to 35% (from 17%), resulting in a valuation upgrade for OSE to €541.2m or €24.8/share (from €465.7m or €21.3/share previously).

Y/E Dec	Revenue (€m)	EBITDA (€m)	PBT (€m)	EPS (c)	P/E (x)	P/CF (x)
2022A	18.3	(15.0)	(18.0)	(95.86)	N/A	N/A
2023A	2.2	(19.6)	(23.2)	(117.58)	N/A	N/A
2024E	98.5	66.7	64.5	280.20	3.1	3.1
2025E	86.3	53.3	50.9	233.23	3.7	3.7

Flash note

Healthcare

19.03.24

OSE Immunotherapeutics — One step closer to key data readouts

Flash note

Healthcare

28.02.24

OSE Immunotherapeutics — Confidence boost with AbbVie partnership

Flash note

Healthcare

27.02.24

OSE Immunotherapeutics — Encouraging OSE-279 clinical update

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Flash note

Healthcare

22.01.24

OSE Immunotherapeutics — Active year ahead for proprietary programmes

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Flash note

Healthcare

12.12.23

OSE Immunotherapeutics — Timely FR104/VEL-101 update with Phase II plans

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Flash note

Healthcare

27.11.23

OSE Immunotherapeutics — Collaboration bolsters upcoming Tedopi Phase III

edison tv

Healthcare

17.10.23

OSE Immunotherapeutics – executive interview with Nicolas Poirier, CEO

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Flash note

Healthcare

17.10.23

OSE Immunotherapeutics — Anticipation builds with positive OSE-279 data

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Update

Healthcare

03.10.23

OSE Immunotherapeutics — Maintaining momentum after an active H123

Flash note

Healthcare

14.09.23

OSE Immunotherapeutics — Publication puts Tedopi back in the spotlight

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Flash note

Consumer

03.08.23

OSE Immunotherapeutics — Grant to weave RNA into R&D platform

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Flash note

Healthcare

06.07.23

OSE Immunotherapeutics — Lusvertikimab progressing on multiple fronts

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Flash note

Healthcare

05.07.23

OSE Immunotherapeutics — US patent to bolster Tedopi’s product portfolio

Flash note

Healthcare

26.06.23

OSE Immunotherapeutics — New diagnostic test to support Tedopi trial

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Initiation

Healthcare

24.05.23

OSE Immunotherapeutics — Milestones anticipated throughout FY23

Flash note

Healthcare

01.03.23

OSE Immunotherapeutics — Encouraging safety data for OSE-127

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Flash note

Healthcare

16.02.23

OSE Immunotherapeutics — FDA support received for Tedopi Phase III trial

Flash note

Healthcare

22.12.22

OSE Immunotherapeutics — Introducing its fifth clinical asset

Update

Healthcare

20.12.22

OSE Immunotherapeutics — €10m funding secures runway to Q323

research

Healthcare

15.12.22

OSE Immunotherapeutics — OSE-127 encouraging preclinical data in ALL

Flash note

Healthcare

03.11.22

OSE Immunotherapeutics — OSE-127 Phase II study enrolment completed

Update

Healthcare

23.09.22

OSE Immunotherapeutics — Tedopi remains focus in FY22

Flash note

Healthcare

08.06.22

OSE Immunotherapeutics — Tedopi clinical data in NSCLC and PDAC

Flash note

Healthcare

19.05.22

OSE Immunotherapeutics — First patient dosed with FR104/VEL-101

Update

Healthcare

03.05.22

OSE Immunotherapeutics — Steady progress on all fronts

Update

Healthcare

30.04.21

OSE Immunotherapeutics — Transforming into R&D powerhouse

Update

Healthcare

28.09.20

OSE Immunotherapeutics — Solid new details from Step 1 of Tedopi Ph III trial

Update

Healthcare

08.07.20

OSE Immunotherapeutics — Encouraging data from novel preclinical projects

edison tv

Healthcare

13.05.20

OSE Immunotherapeutics – executive interview

Update

Healthcare

07.04.20

OSE Immunotherapeutics — Positive Tedopi step 1, rethinking its future

Update

Healthcare

13.03.20

OSE Immunotherapeutics — Progress with key R&D assets

Update

Healthcare

30.09.19

OSE Immunotherapeutics — R&D progress triggers milestone payment windfall

Update

Healthcare

17.04.19

OSE Immunotherapeutics — A change of pace with three new clinical trials

Initiation

Healthcare

06.12.18

OSE Immunotherapeutics — Immunotherapy research engine