Oncodesign Precision Medicine: net loss reduced by 35% in first half, business continuity in question
The first half of 2026 for Oncodesign Precision Medicine (OPM) reads on two levels. In data published on October 22, 2026, the Dijon-based biotech company went from a net profit of €9.85 million to a loss of €2.04 million. This gap is attributable to an exceptional gain of €13 million recorded one year earlier, related to the unconditional reintegration of OPM-201 active pharmaceutical ingredient stocks previously held by Servier.
On a comparable basis, net loss decreased by 35%, driven by cost savings initiated since 2024. Cash and cash equivalents, which include an initial payment from the Michael J. Fox Foundation, reached €2.86 million as of June 30, 2026, but the company reported significant uncertainty that could affect its business continuity.
Operating loss reduced to €2.17 million thanks to cost savings
Operating income came in at -€2.17 million, compared to a profit of €9.79 million in the first half of 2025. Adjusted for the non-recurring gain of €13 million, operating income for the previous period stood at -€3.21 million, which represents, according to the company, a 32% improvement on a comparable basis.
This change is based on lower expenses. Purchased supplies decreased by 52%, to €1.08 million, primarily due to the cost reduction program and the gradual ramp-up schedule of the LARKIN program. Personnel costs fell by 42%, to €0.87 million, reflecting the effects of headcount reduction measures implemented in early 2025.
Research and development expenses decreased from €1.7 million to €0.9 million, a decline of 49%. The company prioritized its strategic programs, mainly OPM-201, while limiting external spending on other programs.
On the revenue side, turnover stood at €0.11 million, compared to €0.14 million, and derives essentially from peripheral activities such as real estate leasing. Other income and operating revenue reached €0.63 million, of which €0.43 million in operating subsidies. Financial income improved to -€0.16 million, compared to -€0.26 million, and research tax credits recognized amounted to €0.28 million.
Cash position of €2.86 million, business continuity subject to conditions
As of June 30, 2026, OPM had cash and cash equivalents of €2.86 million, compared to €2.11 million as of December 31, 2025. This level includes the initial payment of financing granted by the Michael J. Fox Foundation as part of the LARKIN program, received in the first quarter of 2026.
The company also relocated in early July 2026, an operation expected to generate over €300,000 in recurring annual savings on operating expenses. A provision for risks and charges of €0.16 million was recorded for the half-year to reflect its consequences.
Regarding financing, OPM retains the ability to draw on tranches of convertible bonds (ORA) under its agreement with IRIS, the use of which remains, according to the company, measured to limit its impact on the stock price. Discussions are ongoing with several potential partners concerning OPM-101, OPM-201, and technology platforms.
The company indicates that its ability to continue operations depends on obtaining additional financial resources. The board of directors adopted the going concern assumption. Philippe Genne, Chief Executive Officer, summed up the challenge: "This challenge will be overcome only if we raise the necessary financial resources to achieve this goal."
OPM-201 targets phase 1b in 2027, OPM-101 prepares REVERT study
Support from the Michael J. Fox Foundation, obtained under its Therapeutic Pipeline Program, is intended to support the preparation of OPM-201, a LRRK2 kinase inhibitor, for a phase 1b study in 2027 in patients with early-stage Parkinson's disease, particularly those carrying an LRRK2 gene mutation. In a press release published on October 7, 2026, the company had indicated it was targeting an IND submission for OPM-201 in early 2027.
During the half-year, OPM selected the industrial partner responsible for manufacturing tablets, completed micronization of the active ingredient, and produced an initial feasibility batch. It also obtained a favorable opinion from the European Medicines Agency on its long-term toxicology study strategy.
For OPM-101, following approval in late 2025 of the phase 1b/2a REVERT study protocol by Swiss authorities, work focused on capsule production and contracting with clinical centers. The study will evaluate the safety and efficacy of the compound in combination with pembrolizumab in advanced melanoma. Partnership discussions are also continuing for chronic inflammatory bowel diseases.
To pursue these two programs, OPM, which has 14 employees, relies on cash and cash equivalents of €2.86 million as of June 30, 2026 and on the search for partners to license or divest one or both of its assets.
