Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
OSE Immunotherapeutics SA is a clinical-stage biotechnology company based in Nantes and Paris, France, specializing in the development of first-in-class immunotherapies for immuno-oncology and immuno-inflammation. The company focuses on innovative assets that modulate the immune system, including the neoepitope-based cancer vaccine Tedopi, currently in Phase 3 trials for second-line non-small cell lung cancer, and Lusvertikimab, a monoclonal antibody targeting the IL-7 receptor for ulcerative colitis and potential rare indications. Its pipeline also features immune checkpoint inhibitors like OSE-279, myeloid cell modulators, and regulatory T-cell activators, addressing unmet needs in solid tumors, autoimmune diseases, and inflammatory conditions. OSE Immunotherapeutics advances proprietary programs alongside strategic partnerships with major players such as Boehringer Ingelheim, AbbVie, and Veloxis Pharmaceuticals, enhancing development through milestone payments and shared expertise. With a 2026–2028 strategic plan emphasizing Tedopi completion, Lusvertikimab expansion, and financial discipline, the company maintains scientific leadership to deliver transformative medicines for serious diseases.
The business is unprofitable at the operating level (-1396.26% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 96.3% YoY. Margins deteriorated 1458.6pp alongside, both lines moving the wrong way.
Free cash flow declined 171% versus the prior year, cash generation momentum has weakened. ROIC dropped from 45.83% to -33.38%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
€3M
▼ -96.3% YoY
Net Income (TTM)
-€38M
▼ -200.7% YoY
Op. Margin
-1396.26%
▼ -1458.6pp YoY
ROIC
-33.38%
▼ -79.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-€34M
▼ -170.6% YoY
Op. Cash Flow (TTM)
-€34M
▼ -170.3% YoY
Net Debt
€13M
Cash & Equiv.
€23M
3Y CAGR: -47.7%
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