OSE Immunotherapeutics (OSE) H2 2024 earnings summary

Executive summary

• 2024 marked a transformative year with major licensing deals, positive clinical results, and strengthened leadership.

• Three strategic agreements signed: AbbVie (up to $713M), Boehringer Ingelheim (up to €1.1B), and asset purchase.

• Cash position of €64.2M as of Dec 31, 2024, ensuring runway until Q1 2027.

• Multiple late-stage clinical advances in immuno-oncology and immuno-inflammation.

Financial highlights

• Total income of €83.4M in 2024, up from €2.2M in 2023.

• Operating profit of €43.7M vs. a loss of €22.9M in 2023.

• Net profit of €37.4M compared to a net loss of €23.0M in 2023.

• R&D expenses rose to €30.4M from €17.1M year-over-year.

• Cash and financial assets totaled €64.2M at year-end, up from €18.7M.

Outlook and guidance

• Financial visibility secured until Q1 2027, supporting ongoing R&D and clinical programs.

• Focus on advancing two late-stage proprietary programs and exploring strategic options for Lusvertikimab.

• Additional efficacy and safety data for Lusvertikimab to be presented in May 2025.

• Multiple clinical trial readouts expected in 2025 and 2026 for Tedopi® and partnered assets.