(AOF) – An error crept into the title of our dispatch this morning on OPM. The net loss figure has been corrected. Oncodesign precision medicine (OPM) announces cash flow of 10 million euros at the end of 2023, which gives it financial visibility until the beginning of 2025. This biotech specializing in precision medicine for the treatment of resistant and metastatics published a net loss of 8.1 million euros for the year 2023, for a turnover of 1.1 million compared to 8 million in 2022.
OPM shows an “increase in R&D investments of 27%” to 8.8 million, mainly linked to the clinical development of OPM-101 and the start of a preclinical program in oncology OPM-102.
“One year after its debut, numerous milestones have been achieved by OPM and its teams, not the least of which, since two molecules from OPM’s Nanocyclix technology have entered the Phase I clinical phase in healthy volunteers,” comments CEO Philippe Gene.
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Oncology, priority of pharmaceutical giants
Sanofi’s stock market disappointment recorded at the end of October 2023 underlines the new direction for the group, which has now set oncology as its number 1 priority. Efforts in this segment, where therapies are advancing the fastest, notably involve investments in R&D which weigh on profitability. Sanofi therefore announced a drop in its earnings per share in 2024 and the abandonment of its objective of an operating margin of 32% in 2025. Merck has just unveiled a new alliance. It will pay up to $22 billion to the Japanese group Daiichi Sankyo as part of a partnership on experimental cancer treatments. While some experts estimate that the United States represents nearly half of global oncology spending (drugs and treatments), or $196 billion in 2022, Chinese spending in this area has more than doubled in five years, going from 5 to 11.8 billion dollars.