OSE Immunotherapeutics - AbbVie deal clears antitrust hurdle

OSE has announced that its licence agreement with AbbVie has cleared antitrust review and has become effective. As previously noted, this is expected to support OSE’s runway extension into 2026, past key milestones and readouts for in-house assets Tedopi (non-small cell lung cancer, US Phase III trials expected to commence in Q224) and Lusvertikimab (ulcerative colitis, Phase II readouts expected in mid-2024). Following the Federal Communications Commission (FCC) mandatory waiting period, OSE is...

INVEST SECURITIES - OSE IMMUNO : Upfront de 48m$ confirmé, Ph III Tedo...

OSE Immunotherapeutics - Funding accelerates Tedopi clinical developme...

Despite the challenging macroeconomic environment, OSE announced an encouraging funding win with the receipt of €8.4m in non-dilutive public funding from Bpifrance (a French public sector financing institution). Proceeds will be directed to support the upcoming registrational Phase III study of lead asset Tedopi, in second-line treatment in HLA-A2 positive non-small cell lung cancer (NSCLC) patients with secondary (acquired) resistance to anti-PD-(L)1 immunotherapy. This announcement follows the...

ODDO BHF Small & MIDCAP MORNING NEWS - 04/11/2024

Waga Energy offers an innovative start-up profile in the utilities sector: i/ disruptive technology in biogas treatment, ii/ established competitive advantages, iii/ positioning on a market with strong potential (>20,000 landfills) and iv/ a robust business model based on recurring revenues. At its CMD in February 2024, the company reconfirmed its ambitions for 2026 set out at the IPO (contracts for 4 TWh and recurring revenues of € 200m). The financing secured in Q1 2024 (€ 112m base...

ODDO BHF Small & MIDCAP MORNING NEWS - 11/04/2024

Waga Energy propose un profil de start-up innovante dans le secteur des utilities : i/ une technologie disruptive pour le traitement du biogaz, ii/ des avantages compétitifs établis, iii/ un positionnement sur un marché à fort potentiel (>20 000 décharges) et iv/ un modèle robuste de revenus récurrents. La société a reconfirmé lors du CMD en février 2024 ses ambitions à horizon 2026 annoncées au moment de son IPO (signature de 4 TWh et CA récurrent de 200 M€). Fort des financements ob...

OSE Immunotherapeutics : Public financing of € 8m to support the devel...

>A first step for the financing of phase III registration - Yesterday, OSE Immunotherapeutics announced that it was to receive public funds of up to € 8.4m to support the phase III clinical study for the registration of Tedopi in 2L for the treatment of non-small cell lung cancer (NSCLC), for HLA-A2 positive patients with secondary or acquired anti-PD(L)1 resistance. This non-dilutive financing come on foot of the call for “ i-Démo” projects as part of Bpifrance's Fra...

OSE Immunotherapeutics : Financement public de 8 M€ pour soutenir le d...

>Une première étape pour le financement de la phase 3 d’enregistrement - OSE Immunotherapeutics a annoncé hier qu’elle recevait un financement public à hauteur de 8.4 M€ pour soutenir l’essai clinique de phase 3 d’enregistrement de Tedopi en 2L de traitement dans le cancer du poumon non à petites cellules (NSCLC), chez des patients HLA-A2 positifs, en résistance secondaire ou acquise aux anti-PD(L)1. Ce financement non dilutif fait suite à l’appel à projets « i-Démo ...

OSE Immuno - EUR 8.4m in non-dilutive funding for Tedopi Ph3

• OSE announced that they received > EUR 8m in public funding from BPI. • This money comes on top of the EUR 1.5m the company received mid-'23 to support the development of a companion diagnostic test for HLA-A2. Also, remember that part of the USD 48m upfront payment stemming from the AbbVie collab will be allocated to the Ph3 study. While OSE can comfortably launch the Ph3, we expect a need for the company to raise additional funds to complete the study. • We stick to our Buy rating on th...

OSE Immunotherapeutics - Pipeline momentum builds into FY24

OSE Immunotherapeutics’ (OSE’s) FY23 update summarised an active period for its clinical pipeline that was capped by the post-period $713m deal with AbbVie for preclinical asset OSE-230. The company is anticipated to hit meaningful milestones in 2024 with its lead immuno-oncology asset, Tedopi, gearing up for the confirmatory pivotal Phase III trial in Q224 and lead immuno-inflammation programme, Lusvertikimab, set to report Phase II top-line results in mid-2024. OSE-230 (being developed as a tr...

ODDO BHF Small & MIDCAP MORNING NEWS - 03/28/2024

With the exception of the US, construction markets should continue to shrink in 2024 (-2% in Europe) before rebounding on the back of lower interest rates. Against this backdrop, groups will be differentiated mainly on the basis of their resilience (geographical and price/cost mix), capital allocation (and special situations) and valuation. In this context, we are upgrading our recommendations on KONE (modernisation as an alternative source of growth to China) and Holcim (a substantia...

ODDO BHF Small & MIDCAP MORNING NEWS - 28/03/2024

Hormis les Etats-Unis, les marchés de la construction devraient continuer à reculer en 2024 (-2% en Europe) avant de rebondir à la faveur d’une baisse des taux. Dans ce contexte, la différenciation entre les groupes se fera essentiellement sur leur capacité de résistance (mix géographique et prix/ coûts), l’allocation du capital (et situations spéciales) et leur valorisation. Face à cet environnement, nous relevons nos recommandations sur KONE (la modernisation comme relais de la Chin...

OSE Immunotherapeutics : FY 2023 results contained no surprises - deci...

>Financial visibility out to 2026 - OSE reported its FY 2023 results yesterday after market close The operating loss will be € 23.0m, compared with € 18.4m in 2022, impacted in particular by a fall in sales to € 2.2m in 2023 from €1 8.3m in 2022. R&D costs are down to €17.2m (vs € 26.9m in 2022), followed by G&A at € 6.0m (vs € 6.7m in 2022). On the balance sheet, cash and cash equivalents at end-December 2023 were € 18.7m (vs € 25.6m in 2022). Including the $ 4...

OSE Immunotherapeutics : Résultats annuels sans surprise. Résultats dé...

>Visibilité financière jusqu’en 2026 - OSE a publié hier soir ses résultats pour l’année 2023. La perte opérationnelle ressort à 23.0 M€ vs 18.4 M€ en 2022, impactée notamment par une baisse du chiffre d’affaires qui s’établit à 2.2 M€ en 2023 vs 18.3 M€ en 2022. Les coûts de R&D sont en baisse à 17.2 M€ (vs 26.9 M€ en 2022), suivis également par les G&A à 6.0 M€ (vs 6.7 M€ en 2022). Au niveau du bilan, la trésorerie à fin décembre 2023 était de 18.7 M€ (vs 25.6 ...

OSE Immuno - FY23 update

Last night, OSE Immuno released its FY23 results most notably reiterating the mid-2024 readout of its Ph2 study for ulcerative colitis.Following the recent landmark deal with AbbVie for OSE-230, OSE extended its cash runway into 2026, allowing it to launch the confirmatory Ph3 study with its lead asset Tedopi.No impact on valuation; Buy reiterated.