OSE Immuno: stronger cash position and increased revenues

(CercleFinance.com) - OSE Immunotherapeutics announced last night that it had strengthened its cash position to 80.
7 million euros at the end of June, providing it with financial visibility until 2027.

The biotech company, which specializes in immuno-oncology, says it brought in over 90 million euros of non-dilutive cash during the first half of the year.

The company recalls that it consolidated its cash position with $48 million linked to the signature of a worldwide collaboration and licensing agreement with AbbVie .

In addition, the company received 13.5 million euros from Boehringer Ingelheim, as well as a one-off payment of 25.3 million euros from the German laboratory.

OSE says it also received 5.8 million euros in research tax credits for the 2023 financial year, and 8.4 million euros in public funding.

The biotech stresses that these funds will enable it to finance its Phase 3 study on its Tedopi lung cancer therapeutic vaccine, and to continue investing in other proprietary clinical programs.

At the same time, the biotech company's revenues reached 82.5 million euros, compared with 1.3 million a year earlier, again helped by the conclusion of its licensing agreements.

The share price climbed almost 3% on Friday following the release of these results, described as "remarkable" by the company's management, bringing to 87% its gains since the beginning of the year, for a market valuation of almost 175 million euros.

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