(AOF) – OSE Immunotherapeutics announces that as of June 30, 2023, its available cash flow amounted to 15 million euros, ensuring financial visibility until the fourth quarter of 2024. In the first half of 2023, the biotech specialist in immuno -oncology and immuno-inflammation recorded a consolidated net loss of 11.84 million euros compared to a net loss of 1.97 million a year ago. Over this period, its turnover increased from 16 million to 1.35 million euros.
“OSE’s major priorities for 2023 and beyond will be to successfully lead Tedopi’s new pivotal phase 3 clinical program and maximize the short-term value of Lusvertikimab, while strengthening our business model based on on partnerships, ensuring recurring revenues through our ‘first-in-class’ programs”, announces Nicolas Poirier, Managing Director of OSE Immunotherapeutics.
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Biotechs put to the test
These companies are suffering from a much less favorable economic cycle, which is reflected in particular by a drop in venture capital financing of start-ups. These companies are therefore obliged to carry out layoff plans. Added to this is a much more restrictive regulatory framework. First, in the United States, measures linked to the Inflation Reduction Act (IRA) could have a strong impact on the margins of stakeholders. Indeed, from 2026, the federal Medicare program will be able to renegotiate the price of drugs marketed for nine years (chemical) or 13 years (biological), with discounts that could range from 35 to 60% for biotechs. Likewise, in Europe, with the new drug regulations presented in Brussels in April, the duration of patent protection will be reduced if the innovative treatment is not marketed in all member countries within two years.