On July 31 2025 Oncodesign Precision Medicine (OPM) (ISIN: FR001400CM63; Mnemonic: ALOPM), a biopharmaceutical company specializing in precision medicine for the treatment of resistant and metastatic cancers, reported its financial results for the first half of 2025, as approved by the Board of Directors on July 31, 2025 (Press release, Oncodesign Precision Medicine, JUL 31, 2025, View Source [SID1234654695]).
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Philippe GENNE, Chairman and CEO of Oncodesign Precision Medicine, comments: "To date, it remains impossible to raise funds on Euronext for a biotechnology company that needs to conduct clinical proof-of-concept trials. As a result, our hopes for revenue and therefore cash availability rest primarily on discussions with potential buyers of our assets. The various cost-cutting measures we have taken since the beginning of this year are enabling us to continue these discussions over time, and the last quarter will be crucial in this regard."
Karine LIGNEL, Managing Director and COO of Oncodesign Precision Medicine adds: "In a very difficult financial environment, we have taken management decisions that have enabled us to significantly reduce our expenses and thus extend our cash flow horizon as much as possible. We have also set up an equity financing line to deal with market uncertainties. Nevertheless, the situation remains complicated, and we are making every effort to secure a partnership for one of our assets."
Oncodesign Precision Medicine – Income Statement
in M€
Audited data
H1 2025
H1 2024
Evolution
In %
in value
Revenues
0.14
0.14
0%
+0.00
Other revenues and operating income
0.60
0.50
21%
+0.10
Total revenues and operating income
0.74
0.64
16%
+0.10
Stock variation
13.00
–
NS
+13.00
Purchases consumed
(2.24)
(3.33)
-33%
+1.09
Personnel costs
(1.51)
(1.35)
12%
-0.16
Other operating expenses
(0.02)
(0.03)
-19%
+0.01
Taxes and duties
(0.03)
(0.03)
19%
-0.01
Net change in depreciation and amortization
(0.15)
(0.13)
16%
-0.02
Total operating expenses
9.05
(4.86)
NS
+13.91
Operating result
9.79
(4.22)
-332%
+14.01
Financial income and expenses
(0.26)
(0.06)
342%
-0.20
Income from ordinary activities of consolidated companies
9.53
(4.28)
-323%
+13.81
Extraordinary income and expenses
0
(0.01)
NS
+0.01
Income tax
0.31
0.65
-52%
-0.34
Net result
9.85
(3.64)
NS
+13.48
Key financial data
A cost reduction program was implemented in the first half of 2025:
Negotiations were held with the banks and BPI that granted the loan, resulting in a six-month deferral of principal repayments starting in April 2025
Expenses were reduced through
The layoff of five employees in early 2025
A 50% reduction in the compensation of non-salaried corporate officers
A freeze on salaries and bonus payments for the 2024 fiscal year
A reduction in spending on non-priority programs.
In terms of cash flow, rather than from an accounting perspective, this results in a reduction in payroll costs of €242k in the first half of 2025 and a projected reduction of €440k in the second half of this year. The reduction in expenditure is particularly significant for the item "subcontracting and fees," which will fall from €2,900k in the first half of 2024 to €1,773k in the first half of 2025.
R&D expenses amounted to €1.74 million in the first half of 2025, compared with €3.61 million in the same period last year, as the company focused its efforts on the clinical development of OPM-101.
Oncodesign Precision Medicine – R&D expenditure
in M€
Analytical data
H1 2025
H1 2024
Evolution
In %
in value
Partnerships
0.46
0.68
-32%
-0.2
Licensing
1.28
2.93
-56%
-1.7
Total R&D expenses
1.74
3.61
-52%
-1.9
Reintegration, in close collaboration with Servier, of all OPM-201 data and product stocks
The most significant financial item in the first half of 2025 is the reintegration, as provided for in the partnership agreement, of the stock of OPM-201 GMP material produced by Servier. As this reintegration is being carried out without financial competing, OPM has called upon an external expert to determine fair value for these stocks. This expert carried out three different valuations to arrive at this fair value.
A summary of these valuations is shown in the table below:
in M€
Min.
Centrale
Max.
Valuation of inventories based on cost price
7.2
7.2
7.2
Valuation of inventories using the "milestone economy" method
13.0
13.0
13.0
Valuation of inventories using rNPV discounting
15.3
15.7
16.2
The expert concluded that the fair value of these inventories falls within a range of €13 million to €16.2 million. OPM used the lower end of this range.
OPM’s revenue for the first half of 2025 was €0.1 million, the same as in the first half of 2024.
Other income mainly consists of subsidies amounting to €0.3 million and €0.3 million in provision reversals.
OPM’s financial result was (€0.26) million, compared with (€0.1) million in the same period last year, mainly due to interest on outstanding loans and financial income from cash investments.
OPM recorded €0.4 million in R&D tax credits in the first half of 2025, down 52% compared to last year. The amount of R&D tax credits was reduced by the amount of public aid, the R&D expenditure base decreased, and the rules for collecting R&D tax credits changed (exclusion of technology watch patents, etc.).
OPM’s half-year net income thus stands at €9,846k, due to the integration of OPM-201 inventories at an estimated value of €13m.
Cash position of €2.5m at June 30, 2025
As of June 30, 2025, OPM had cash reserves of €2.5 million, before receiving the Research Tax Credit, compared to €9.6 million (including the Research Tax Credit) as of June 30, 2024.
The Research Tax Credit, amounting to €1.1 million, was received in July 2025.
OPM has access to a maximum €5 million equity financing facility, which it has not yet used. The Company is in discussions with financial and pharmaceutical partners with the goal of signing a partnership agreement or raising funds.
2025 perspectives
OPM has submitted its Phase 1b/2a protocol for the REVERT study evaluating OPM-101 in patients with advanced melanoma resistant to anti-PD1 and is awaiting a response from Swiss ethics institutions. The first patient is expected to be enrolled by the end of 2025.
Work on radioligands is continuing as part of the COMETE project.
Partnership prospects or transfer mainly focus on the two most advanced molecules to date (OPM-101 and OPM-201).
OPM’s goal is to license or transfer OPM-101 at the end of Phase 2a to a pharmaceutical partner who will complete its development and commercialization. While we do not anticipate licensing or sales before the end of this phase in 2027, we are considering the possibility of a pharmaceutical partner taking a licensing option with the payment of an exclusivity fee, giving them first refusal on the results.
For OPM-201, the objective is to find a partnership similar to the one we found with Servier in 2019 or a buyer.
Availability of the 2025 half-year financial report
The 2025 half-year financial report will be available on the company’s website, within the legal deadline, before October 31, 2025.