OSE Immunotherapeutics - Steady progress on all fronts

OSE Immunotherapeutics (OSE) and its three pharma partners have made progress with all key clinical and preclinical assets. The final analysis of the data from the most advanced trial in OSE’s R&D pipeline, the Phase III ATALANTE-1 study investigating lung cancer vaccine Tedopi, revealed a potential path to market and OSE is now aiming to discuss the data with regulators. The three partnered assets – BI 765063, S95011/OSE-127 and VEL-101/FR104 – are in different stages of clinical development and generate relatively steady licensing fee income. Our updated valuation is €319m or €17.5 per share (from €16.2 per share).