Report
Olga Smolentseva

OSE IMMUNO BUY | EUR14 VS. EUR17 1H22 results, focus on execution and pipeline expansion

OSE reported last week H1 2022 financial results with a corporate update provided by the new CEO, Alexis Vandier, during the call highlighting the company’s plaform and clincial assets. We update our model, removing Grave’s disease estimates for FR104 arriving at a TP of EUR14, vs EUR17, previously. We reiterate our BUY rating.
Underlying
OSE Immunotherapeutics SA

Ose Immunotherapeutics SA, formerly Orphan Synergy Europe Pharma SA, is a France-based company principally engaged in the clinical stage biotechnological sector. The Company develops immunotherapy products against invasive or metastatic late-stage cancers. The Company offers a technology, called Memopi, which helps the immune system to eliminate malignant cells; it re-educates the body's immunological memory so that the immune system (and particularly T cytotoxic cells) attacks tumor cells by increasing the patient's specific cytotoxic T response against their cancer. The Company's main product, Texopi, is a patented combination of ten epitopes, selected and optimized from five tumor associated antigens.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Olga Smolentseva

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