On Monday, Degroof Petercam reiterated its buy recommendation and price target of 7.3 euros on OSE Immunotherapeutics shares, following the announcement of the end of enrolment in the Phase 2 clinical trial.

In a research note, the Belgian investment house refers to "positive news" for the French biotech, anticipating favorable results in this trial conducted in patients suffering from ulcerative colitis.

Following these initial efficacy results, expected in the next few months (mid-2024), Degroof Petercam expects OSE to start looking for a commercial partner with a view to launching a phase 3 study.

But the Brussels-based firm warns against expecting a "walk in the park" for the company, given the highly competitive market for the treatment of rectocolitis.

Degroof Petercam rates the chance of a licensing agreement at 20%, and the probability of marketing authorization in this indication at 19%.

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