Report

OSE Immunotherapeutics - Tedopi remains focus in FY22

The pathway to regulatory approval for OSE’s neoepitope cancer vaccine, Tedopi, continues to be a key point of focus for the company. Following the presentation of positive data from the Phase III ATALANTE-1 trial over H122, OSE is discussing potential pathways to approval of Tedopi in non-small cell lung cancer (NSCLC) with the regulators. We expect an update on this in H222, with the possibility of inclusion in the FDA early access programme still on the table. Concomitantly, the company is preparing for further Phase III trials with Tedopi. In its H122 report, the company reported results that are largely in line with our estimates (excluding a €10m milestone payment from Boehringer Ingelheim). At end-June 2022, OSE reported a cash position of €31.2m, which, at our estimated FY22 burn rate of €20.4m, we forecast will fund the company to Q323.
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
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Sean Conroy

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