OSE Immunotherapeutics - Reaffirmed dedication to core assets

OSE Immunotherapeutics has reaffirmed its strategy of streamlining its clinical pipeline following some developments to its partnered assets. For ABBV-230 (OSE-230), partnered with AbbVie, OSE had previously planned to conduct additional preclinical and Phase I research; it has now paused development of the asset. In parallel, OSE has confirmed that Boehringer Ingelheim (BI) has decided not to continue developing partnered asset BI 770371 in metabolic dysfunction-associated steatohepatitis (MASH) after some Phase II data showed a lack of efficacy in this indication. The treatment showed a favourable safety profile and the candidate will continue to be explored in oncology under the partnership. We highlight that these developments have no impact on OSE's cash runway, or our valuation, as no milestone payments were associated or expected with these programmes within the company's 2026-28 strategic plan. Importantly, with ABBV-230 development paused, OSE can continue to prioritise its two core value-creating assets, Tedopi and lusvertikimab.

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