(News Bulletin 247) – Invest Securities confirms its buy rating on the OSE Immunotherapeutics stock with a price target lowered from 10.3 to 8.26 euros.
The analyst reports that on Friday after trading, OSE Immuno announced that it had recovered the rights to OSE-127 after Servier decided not to pursue development of this asset after the failure of phase IIa in Sjögren’s syndrome.
‘As a reminder, in 2016, the two groups entered into a collaboration to address autoimmune diseases with OSE-127 as part of 2 clinical studies conducted in parallel. Servier had placed a license option on OSE-127 which it therefore decided not to exercise, thereby canceling the potential for an associated milestone of 15mE’, indicates the analyst.
Invest Securities is thus adjusting its model by removing the line from the program concerning Sjögren’s syndrome but remains positive with regard to the potential represented by the entire OSE pipeline.
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