OSE Immunotherapeutics S.A.

OSE.PA

Biotechnology · Healthcare

Exchange

Euronext Paris

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

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Winston Score History

The full picture

OSE Immunotherapeutics is a French biotech company that develops drugs to treat cancer and autoimmune diseases. Its pipeline includes experimental therapies that work by either activating or calming the immune system, depending on the disease. The company does not yet sell any approved products and is focused entirely on clinical-stage research.

OSE makes no product revenue today. It funds its operations through research partnerships, grants, and licensing deals with larger pharmaceutical companies. Based in Nantes, France, it is a small company with a market cap around $100 million, and its main competitive asset is its proprietary immune-targeting technology platforms. The biggest risk the company faces is typical for clinical-stage biotechs: its drugs may fail in clinical trials, and it will need to raise additional capital to keep operating until it can reach a major milestone like regulatory approval or a significant partnership deal.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+56.0% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

-11.0% YoY

YoY Growth Rate

Earnings declining

Insider Activity

27.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~4 months

€24M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Strong grower

OSE Immunotherapeutics S.A. is growing revenue at 56% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

0.0%

Thin — 0.0% gross margin

Profit after running costs

Operating Margin

-1895.9%

Losing money on operations — -1895.9%

Return on the money invested

ROCE

-81.3%

Weak — -81.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-96.9%

Shrinking sales (-96.9% YoY)

Profit growth

EPS YoY

-198.3%

Earnings shrinking (-198.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-1303.2%

Burning cash (-1303.2%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

1.16

Elevated debt (1.16)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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