All posts by PARKERYL

February was a bumpy month for the overall stock market and our stocks.

Distractions like Trump 2.0’s latest tariff threats, the German elections, DeepSeek’s AI claims, weak consumer confidence and elevated inflation caused some wild market swings. As a result, all of the major indices ended the month of February lower, with the S&P 500 down 1.4%, the Dow down 1.6% and the NASDAQ down nearly 4%.

March has gotten off on equally volatile footing. Yesterday, markets began to sell off as deadlines approached for President Trump’s threatened tariffs against Canada and Mexico. As a result, the S&P fell 1.7% on Monday to post its worst day of the year. Meanwhile, the Dow lost 1.5% and the tech-heavy NASDAQ dropped 2.6%.

The stock market threw another hissy fit over tariffs today, with all of the major indices opening sharply lower this morning. At one point, they were all down by more than 1% before moderating those losses in afternoon trading. As investors digested the tariff news, they began to worry about how they will impact the U.S. economy now that they are in place. 

So, in today’s Market 360, let’s review the latest tariff news. I’ll explain why we shouldn’t worry and what we need to remember during market selloffs. Simply put, good stocks will bounce. I’ll share an example of one such stock… and why quantum computing should serve as a catalyst for it in the future.

Written by Steven Dooley, Head of Market Insights, and Shier Lee Lim, Lead FX and Macro Strategist

USD loses its shine on growth concerns

The US dollar bucked its usual status as a “safe haven” trade and instead fell for a second session overnight as worries about new tariffs on Canada, Mexico and China caused markets to fret about US growth.

US shares were again weaker overnight with the Dow Jones index down 1.6%.

The USD index fell 1.0% overnight and is now down 1.9% since US president Donald Trump confirmed on Monday that new tariffs would go ahead as planned.

The biggest gains versus the US dollar were in Europe with the euro and British pound jumping higher – both currencies are seen as currently insulated from tariffs while an expectation of increased defence spending also boosted the currencies.

Regionally, the Aussie climbed to three-day highs to gain 0.4%, while the NZD/USD gained 0.6%.

In Asia, the USD fell even faster. The USD/SGD lost 0.6% and neared three-month lows while the USD/CNH dropped a massive 0.7% as it also neared three-month lows.

President Trump and trade policies will likely remain in focus with his 90-minute joint address to the US Congress due at 9.00pm EST (1.00pm AEDT).

AUD/USD remains at risk despite steady GDP outlook

Away from tariffs, the key release today is Australian December-quarter GDP, due at 11.30am AEDT. 

We predict a more robust 0.5% quarterly (1.2% year-over-year) increase in Q4 GDP.

For now, the AUD/USD remains in the 0.6200 to 0.6400 trading range, but with the market in a long-term downtrend, the risks remain for a break below support at 0.6085 and a possible eventual break below 0.6000.

KRW vulnerable as inflation eases below 2%

Tomorrow, the CPI for South Korea will be released.

Due in part to base effects, we anticipate that inflation will decrease from 2.2% year over year to 1.9% in February.

Additionally, core inflation probably decreased from 2.0% in January to 1.9% year over year in February.

Recent political events, the possibility of US tariffs, and a worse GDP forecast make a more expansionary budget seem more plausible.

However, we have a negative outlook on KRW. Unlike most markets in Asia, which have seen USD weakness, USD/KRW continues to strengthen and 50-day MA of 1441.48 remains key support.

USD weaker post tariffs, especially in Asia

Table: seven-day rolling currency trends and trading ranges  

Key global risk events

Calendar: 3 – 7 March  

All times AEDT

Have a question? [email protected]

*The FX rates published are provided by Convera’s Market Insights team for research purposes only. The rates have a unique source and may not align to any live exchange rates quoted on other sites. They are not an indication of actual buy/sell rates, or a financial offer.

As global trade fractures in 2025, companies face rising tariffs, supply chain turmoil, and shifting economic dynamics.

Geopolitical pressures are reshaping global economic and financial activity leading to what is commonly called a “fractured” global economy. Among other things, a fractured economy is characterized by increased trade barriers and tariffs, geopolitical tensions and shifts to specific trading blocks (like US vs China), changing investment patterns, and supply chain disruptions.

These are not new phenomena, and over time companies have responded by implementing a variety of strategies, such as rationalizing production lines, finding new markets, or near shoring sources of supply to name but a few. 

However, 2025 is not business as usual. According to the most recent outlook, in January, by chief economists at the World Economic Forum, this global fragmentation will lead to price increases for consumers and cost increases for business, for the next three years. They also agree that developments in the US will alter the trajectory of the global economy, with the majority saying that US domestic policy will bring a long-term global economic shift rather than a short-term disruption. 

Across The Border, Across The Board

In a recent interview, Suzie Petrusic, Senior Analyst in Gartner’s Supply Chain Practice, explains that with respect to US trade policy, the big difference between the way that tariffs have been applied in the past and how they are now, is the sheer scope of the tax.

“In the past it’s usually been like taking a scalpel to the tariffs—market by market,” she said. “But these new tariffs are broadly applied, so it’s actually hard for me to imagine an industry that’s not impacted.”

Impending US tariffs, and the retaliatory protectionism expected from China, the EU, Canada and Mexico will likely have highly complex, long term disruptive effects on traditional supply chains and are expected to impact industries and economies world-wide.

For example, it’s anticipated that US tariffs on EU imports will reduce Europe’s GDP by 1.5% in 2025, US GDP will fall by 1.6%, and a 25% tariff on Canadian exports will push that economy into recession. 

Global corporate investment patterns will also be impacted.  According to recent research by Ernst & Young, the negative direction of US-China relations (as reflected in the recent US ban of TikTok) will likely prompt high-profile Chinese companies to pursue IPOs in alternative markets like Hong Kong or the European exchanges. (EY Global IPO Trends 2024)

And when it comes to specific sectors, there will be winners and losers. At a recent investor conference, Ford CEO Jim Farley, described the potential impact of these sweeping tariffs on both the US automotive industry in general, and more specifically, the bottom lines of non-American automakers.

“Long term, a 25% tariff across the Mexico and Canada borders would blow a hole in the U.S. industry that we’ve never seen,” Farley said. “Frankly, it gives free rein to South Korean, Japanese and European companies that are bringing 1.5 million to 2 million vehicles into the U.S. that wouldn’t be subject to those Mexican and Canadian tariffs. It would be one of the biggest windfalls for those companies ever.” In contrast, upon the announcement of the tax on Canadian producers, American steel maker Alcoa saw a significant bounce in their stock price as investors anticipated higher prices and bloated profit margins for American steel companies. 

Levers—Which Levers?

So, what levers will companies pull in 2025 to strategically navigate through this volatile and uncertain environment? As MP Biomedicals CFO Hendry Lim explains, “Companies like ours will continue to adjust sourcing strategies to countries not impacted by the tariff,  which allows for diversify of supply and reduction of risk.”

MP Biomedicals—a manufacturer and distributer of life science, fine chemical and diagnostic products with offices and facilities throughout Europe, Asia, Australia and the Americas— has turned its eye to imports from India and Singapore. The company is also rerouting production to their other facilities before entering the US. However, this strategy isn’t clear cut. It’s a complex modelling exercise, Lim explains. 

“Of course we’ll have to weigh the freight cost versus the tariff as well as other options, looking at things like geopolitical risk, natural disasters in certain countries, market fluctuations, and then thereafter use financial models to quantify the financial impact and to develop risk mitigation strategies. We then incorporate all these factors into our forecasting. At the end of the day it’s a matter of everyone collaborating and working together to develop a strategy, to actually counteract these risks,” he adds.

Ultimately, companies will need to bring geostrategic risk into the fore of their scenario planning.

“In doing so, the most helpful thing that any C-suite executive can do, is create alignment at the C level and clarity all the way down through the organization. If you can create that clarity and alignment strategically at the C-suite then you’re able to more confidently know that your people are making decisions that are pulling and pushing towards the same goal,” she explains.

Data Beats Cash

The ability to understand risk also boils down to a company’s investment in technology, explains Rizwan Khan, Managing Partner at Acclime Vietnam, and experienced regional CFO, CIO and auditor.

“There are multiple factors that will affect production costs in this region, like Chinese investment in a company or the percentage of Chinese inputs or raw material in their products.  So overall, the tariffs that are being imposed pose a significant risk to companies in Southeast Asia as well. Vietnamese companies will need to focus more on cost reducing efficiencies to remain competitive,” Khan says. 

Competitors around the world that are exposed to the same tariffs will have to win on cost reductions, he adds. “My focus is making sure companies are utilizing technology in the most productive way to minimize those costs. In the past, we used to say that cash is king—in the current environment, data is king.” 

With so much data available, whether it is from the procurement point of view or from the production point of view, corporate strategies in a volatile trade environment require end to end visibility, he adds. 

“When it comes to technology innovations, advanced predictive and prescriptive analytic technology can help companies understand the impact of tariff-related disruptions, by helping them quantify the impact across a supply chain, or help identify specific supplier risks, or forecast changes in demand across regions in real time. This type of end-to-end visibility ensures that companies can respond to shifting market dynamics,” he says.

For now, many are still trying to figure out how 2025 will unfold when it comes to the bubbling trade war of the worlds. How companies will fare this year will depend on how quickly they can respond to emerging barriers to trade and a volatile risk environment.

Crypto gambling has always been a wild ride: one minute, it’s a revolution, the next, regulators are breathing down its neck. What was sci-fi five years ago is now just another Tuesday. And 2025? It’s going to be glorious.

Expect AI casinos reading your soul, meme coins funding your next bet, and, of course, gambling platforms thriving in the chaos. Bitz.io, already a favorite among crypto gamblers, will likely push the boundaries further. Maybe with decentralized tournaments, NFT-based bets, or even AI-powered dealers that know when you really should stop.

Governments will help by launching their own crypto casinos, and smart contracts will be unbreakable until they aren’t. The future is just as bright as a flashing neon sign with a jackpot sound effect.

Governments Will Launch Their Own Crypto Gambling Platforms

In 2025, the same governments that once fought crypto gambling will pivot and embrace it, but on their terms. Expect state-controlled blockchain casinos, where the house edge is set by national authorities and tax collection is instant. 

Some countries will justify this as a way to protect citizens from unregulated gambling, while others will see it as a way to tap into a lucrative industry. Here are some possible ways the government might handle crypto gambling:

1. State-Owned Blockchain Casinos. Fully controlled by the government, all winnings and transactions are traceable. For instance, Thailand is considering legalizing online gambling to generate significant annual revenue. 
2. Mandatory KYC for All Crypto Bets. No more anonymity, as personal IDs will be tied to blockchain wallets. The European Union, for example, has implemented comprehensive KYC regulations to combat financial crimes. 
3. Taxes Embedded in Smart Contracts. A portion of every bet will be automatically sent to tax authorities, ensuring seamless revenue collection.
4. Banned Private Gambling Platforms. Heavy fines for anyone using non-government crypto gambling sites. In the United States, the federal government is likely to intervene against quasi-gambling products, indicating a move towards stricter regulation. 

Ironically, crypto gambling was supposed to be about decentralization. Yet, 2025 may see it being absorbed into the very regulatory frameworks it tried to escape.

Uprising in Virtual Casinos Driven by AI

Forget traditional online gambling. In 2025, AI-driven, fully immersive casinos will replace static betting sites. These casinos will act as living entities: learning player preferences, tailoring game experiences in real-time, and even simulating human dealers with near-perfect emotional responses. 

No more generic slots or table games, each experience will be dynamically generated based on the player’s behavior.

Feature	Description
Adaptive Gameplay	AI will adjust game mechanics based on player engagement.
Personalized Odds	No universal odds—AI tailors them based on player history.
Deepfake Dealers	Realistic AI dealers, are indistinguishable from real humans.
Emotion Tracking	AI reads player emotions via webcam or VR sensors.
Blockchain Enforcement	Smart contracts ensure fairness without third-party audits.

With these developments, traditional casinos will struggle to compete, as AI-generated environments will offer players an experience they can’t find anywhere else. 

As Ian Tibot, Chief Commercial Officer of Future Anthem, notes, “We see every single spin of a slot, we see every single bet, and we actually understand the experience that the player is having by creating the concept of a session out of that data.”

Meme Coins Will Rule the Gaming Industry

Bitcoin and Ethereum? How boring. In 2025, the real action will be in meme coins, where internet culture collides with high-stakes gambling in the most spectacularly irrational way possible. 

Forget boring betting – your fate now rests in the hands of Twitter trends and Elon Musk’s next cryptic tweet. Plus, putting money into a currency with a frog motif just because someone on Reddit suggested it is the epitome of responsible investing (if you ask me).

Coin Name	Concept	Price Prediction for 2025
$PEPE	A meme coin inspired by the Pepe the Frog character, gaining traction in online gambling communities.	Predicted to reach $0.01, contingent on market trends.
$DOGE	The original meme coin, Dogecoin continues to be popular in gambling circles due to its widespread recognition.	Expected to maintain stability with modest growth.
$SHIB	Shiba Inu coin, often dubbed the ‘Dogecoin killer,’ has found its niche in decentralized gambling platforms.	Forecasted to experience gradual appreciation.
$FLOKI	Named after Elon Musk’s pet, Floki Inu has carved out a space in meme coin casinos.	Anticipated to see incremental value increases.
$MEME	A token that embodies the essence of meme culture, used in various online gaming and gambling platforms.	Projected to rise to approximately €0.0183 by the end of 2025.

How to gamble responsibly with meme coins or at least minimize regret:

• Accept That Logic Doesn’t Apply: Traditional market analysis? Cute. The only trend that matters is vibes.
• Set a Limit: If your investment strategy involves hoping a Shiba Inu GIF pumps your net worth, maybe cap your losses so it won’t ruin your life.
• Stay Updated on the Circus: Your financial future may depend on the next big meme. Stay vigilant, dear gambler.
• Enjoy the Madness: You’re not here for safe bets, you’re here for the ride. Might as well have fun.

Will meme coins revolutionize crypto gambling? Probably not. Will they create a spectacularly absurd betting landscape filled with chaos, hype, and just enough wins to keep the dream alive? Absolutely.

Smart Contracts Will Introduce Uncheatable Gambling

The promise of smart contracts in gambling is simple: automated, tamper-proof, and completely fair. The reality? While these self-executing contracts eliminate some traditional risks, they are far from invincible. 

In 2025, expect increasingly sophisticated exploits, creative loopholes, and a never-ending battle between developers and hackers. The difference? Leading online site Bitz casino investing in rigorous audits and proactive security measures to stay ahead of the game.

Risk Type	Description
Oracles Can Be Hacked	Even decentralized systems rely on external data sources, which can be manipulated.
Hidden Developer Backdoors	Smart contracts are “immutable,” but some devs will still find ways to include secret exploits.
Front-Running Attacks	Betting transactions could be manipulated via MEV (maximal extractable value) attacks.
Game Theory Exploits	Players will find ways to game the system using coordinated blockchain transactions.

Smart contracts are designed to make crypto gambling fairer and more automated, but keeping them secure is still a challenge we need to tackle. It’s really important to have regular audits, keep things updated, and focus on responsible development to make sure we create a safer betting environment.

Conclusion

Crypto gambling in 2025 won’t just evolve, it’ll mutate. AI casinos will know you better than your friends, governments will protect players while taking their cut, and meme coins will turn bets into lottery tickets. Regulators? Still trying to Google Blockchain. One thing’s certain—this game never stops.

Updated on March 3rd, 2025 by Felix Martinez

The Dividend Aristocrats are a group of stocks in the S&P 500 Index with 25+ years of consecutive dividend increases. These companies have high-quality business models that have stood the test of time and shown a remarkable ability to raise dividends every year regardless of the economy.

We have compiled a list of all 69 Dividend Aristocrats, along with relevant financial metrics like dividend yield and P/E ratios. You can download the full Dividend Aristocrats list by clicking on the link below:

 

Disclaimer: Sure Dividend is not affiliated with S&P Global in any way. S&P Global owns and maintains The Dividend Aristocrats Index. The information in this article and downloadable spreadsheet is based on Sure Dividend’s own review, summary, and analysis of the S&P 500 Dividend Aristocrats ETF (NOBL) and other sources, and is meant to help individual investors better understand this ETF and the index upon which it is based. None of the information in this article or spreadsheet is official data from S&P Global. Consult S&P Global for official information.

The list of Dividend Aristocrats is diversified across multiple sectors, including consumer goods, financials, industrials, and healthcare. Surprisingly, the utility sector is underrepresented.

Only three utility stocks are on the list of Dividend Aristocrats: Consolidated Edison (ED), NextEra Energy (NEE), and Atmos Energy (ATO).

Only three utilities are on the list, which may come as a surprise, especially since utilities are widely regarded as steady dividend stocks. This article will discuss Atmos Energy’s path to becoming a Dividend Aristocrat.

Business Overview

Atmos Energy was formed in 1906 in Texas. Since then, it has grown organically and through mergers. Today, Atmos Energy distributes and stores natural gas in eight states, serving over 3 million customers.

In addition, Atmos owns about 5,700 miles of natural gas transmission lines. The utility should generate about $4.8 billion in revenue last year. The company serves over 3 million natural gas customers in eight states.

Source: Investor Presentation

Atmos posted first quarter earnings on February 5th, 2025. The company reported reported fiscal 2025 Q1 earnings of $2.23 per diluted share, with a net income of $351.9 million. Capital expenditures reached $891.2 million, with 86% dedicated to safety and reliability. The company maintains strong financials, with 60.3% equity capitalization and $5.2 billion in liquidity, alongside $150.5 million in annualized regulatory outcomes.

The company reaffirmed its fiscal 2025 earnings guidance of $7.05–$7.25 per diluted share and expects $3.7 billion in capital expenditures. The Board declared a quarterly dividend of $0.87 per share, raising the annual dividend to $3.48, an 8.1% increase from 2024.

CEO Kevin Akers highlighted the company’s ongoing commitment to safety, reliability, and modernization, crediting its 5,300 employees for delivering strong results that benefit customers and communities.

Growth Prospects

Earnings growth across the utility industry typically mimics GDP growth, plus a couple of percentage points. However, we expect Atmos Energy to continue outperforming this trend due to its focus on capital investment in its regulated operations, a constructive regulatory environment in Texas, and population growth.

As a result, the company should benefit from strong rate base growth, which will generate annual earnings per share growth in accordance with management’s 6%—8% guidance.

New customers, rate increases, and aggressive capital expenditures are Atmos Energy’s growth drivers. One benefit of operating in a regulated industry is that utilities are permitted to raise rates on a regular basis, which virtually assures a steady level of growth.

Source: Investor Presentation

The company’s primary risk is its ability to achieve timely and positive regulatory rate adjustments. If it achieves lower than expected allowed returns, this could significantly harm profits.

However, we believe Atmos can achieve at least 7% annual EPS growth through continued improvements in gross margin, reductions in operating costs as a percentage of revenue, and top-line growth via acquisitions and organic customer growth.

The company continues to file favorable rate cases with its various localities, which also provide for small revenue increases over time, as we saw again in fiscal 2024 full–year results. 

Competitive Advantages & Recession Performance

Atmos Energy’s main competitive advantage is the utility industry’s high regulatory hurdles. Gas service is necessary and vital to society. As a result, the industry is highly regulated, making it virtually impossible for a new competitor to enter the market. This provides great certainty to Atmos Energy and its annual earnings.

Another competitive advantage is the company’s stable business model and sound balance sheet, giving it an attractive cost of capital. This enables it to fund accretive acquisitions and growth capital expenditures, driving outsized earnings per share growth.

In addition, the utility business model is highly recession-resistant. While many companies experienced large earnings declines in 2008 and 2009, Atmos Energy’s earnings per share kept growing. Earnings-per-share during the Great Recession are shown below:

• 2007 earnings-per-share of $1.91
• 2008 earnings-per-share of $1.99 (4% growth)
• 2009 earnings-per-share of $2.07 (4% growth)
• 2010 earnings-per-share of $2.20 (6% growth)

The company still generated healthy growth even during the worst of the economic downturn. Results remained resilient and continued to grow during the pandemic, demonstrating Atmos’ assets’ mission-critical nature.

This resilience has allowed Atmos Energy to continue increasing its dividend each year during these unfavorable market environments.

Valuation & Expected Returns

Atmos Energy is expected to earn $7.20 this year. Based on this, the stock trades with a price-to-earnings ratio of 21.3x. This is above our fair value estimate of 19x earnings, and above the 10-year average price-to-earnings ratio for the stock.

As a result, Atmos Energy shares appear to be overvalued. If the stock valuation compresses from 21.3 to 19 over the next five years, the corresponding multiple compression would decrease annual returns by 1.6%. This could be a slight headwind for future returns.

Fortunately, the stock could still provide positive returns to shareholders, through earnings growth and dividends. We expect the company to grow earnings by 7% per year over the next five years.

In addition, the stock has a current dividend yield of 2.3%. ATO has increased its dividend for 41 consecutive years.

Putting it all together, Atmos Energy’s total expected returns could look like the following:

• 7% earnings growth
• 1.6% P/E multiple compression
• 2.3% dividend yield

Added up, Atmos Energy is expected to generate 7.7% annualized total returns over the next five years, which does not make the stock attractive for investors interested in dividend growth and total returns.

The dividend yield is not substantial but remains attractive, while the dividend appears relatively safe. The company has projected a 2025 payout ratio of ~48%, indicating a sustainable dividend. As a result, we view Atmos Energy as a blue-chip stock.

Final Thoughts

Atmos Energy stock is attractive for investors looking for an above-average yield and regular dividend growth. Because of this, it can serve a valuable purpose in an income investor’s portfolio. The stock offers a very secure and growing dividend income stream, and its dividend yield is well above the average dividend yield of the S&P 500 Index.

Note: Atmos Energy also ranks well using The Chowder Rule.

Atmos Energy is also a Dividend Aristocrat and should raise its dividend each year. With five-year expected returns of 11% per year, ATO stock is a buy.

Additionally, the following Sure Dividend databases contain the most reliable dividend growers in our investment universe:

If you’re looking for stocks with unique dividend characteristics, consider the following Sure Dividend databases:

The major domestic stock market indices are another solid resource for finding investment ideas. Sure Dividend compiles the following stock market databases and updates them monthly:

Most investors expected stability, but cryptocurrencies have delivered spectacle…

After touting his support all along the campaign trail, President Trump initially had cryptocurrencies tearing higher. But as with the rest of the financial markets, cryptos have been stuck on a rollercoaster that would test even the most iron-stomached investors since November’s election.

Indeed, Bitcoin (BTC/USD) rallied 60% in the month after the election on hopes for pro-crypto policies out of D.C. Then, worries about reinflation sent Bitcoin crashing 15%. 

As those inflation worries abated, BTC rebounded 15%… only to crash 20% on tariff fears. 

Most recently – just this past weekend – Bitcoin popped 10% in a hurry on news that Trump is set to create a strategic national reserve for cryptos. But when the president subsequently announced more tariffs on Monday, BTC gave back all those gains. 

It has been a violent and volatile ride over the past few months. The natural question on everyone’s mind is: What’s next?

We think a rally – and a pretty big one at that… 

This Week’s Bullish Development

Perhaps surprisingly, considering what we’ve just outlined, our bullishness stems from Trump. 

As we mentioned, shortly after the election, Bitcoin surged from $60,000 to $100,000 on the idea that the president would enact a series of pro-crypto policies that would support innovation and growth in the industry. Since then, however, BTC has stumbled on concerns that the president was de-prioritizing cryptos. 

That is, in his first few weeks in office, Trump hit the ground running with tariffs and federal spending cuts. But he moved rather slowly with his crypto-related promises, creating worries that his action would be less than hoped. 

That could all change later this week. 

This Friday, March 7, Trump is set to host the first-ever White House Crypto Summit. Attendees will include prominent founders, CEOs, and investors from the industry. 

We think he could announce more big things at this summit. 

Trump is well-aware of how crypto markets have struggled – and of how some crypto investors who supported him on the campaign trail may be disappointed with how the markets have fared so far during his presidency. 

That’s why we think he tried to ‘save’ the crypto markets with the announcement of a crypto strategic national reserve on Sunday… 

Since 2016, Anne-Laure Autret-Cornet has been the CFO of OSE Immunotherapeutics, a biotech dedicated to immuno-oncology and immuno-inflammation. The Nantes, France-based company went public on the Euronext Paris stock exchange in late March 2015.

Global Finance: What has been your biggest challenge as CFO?

Anne-Laure Autret-Cornet: In the biotech sector, we are always fundraising. In Europe, it is even more challenging, not only because of the economic and political challenges, but also because the markets have been rather sluggish since 2023. That said, OSE managed to secure funding until first-quarter 2027. Of course, the early stages of the COVID-19 pandemic were very challenging. The uncertainty and rapid changes in the global market required quick adaptation and strategic financial planning to ensure the stability and continuity of our operations.

GF: Where has the bulk of your energy and time been directed in the last year?

Autret-Cornet: Along with our CEO and chief business officer, I was focused on securing funding for our ongoing and upcoming research and development projects. We received a grant of €8.4 million in non-dilutive public funding to support a Phase 3 clinical trial of our cancer vaccine, Tedopi, in lung cancer. In addition, we signed a major strategic partnership with AbbVie last February. This involves the development of OSE-230, a novel monoclonal antibody, and included an upfront payment of $48 million with potential milestone payments and royalties. And we have ongoing important collaborations with other companies such as Boehringer Ingelheim and Veloxis Pharmaceuticals.

These partnerships underscore our commitment to advancing innovative therapies and highlight the value of our research and development capabilities. All this effort last year, in addition to some positive clinical trial results, has increased confidence in our company, resulting in a solid financial position until 2027 and a stock price increase of around 69% year-on-year.

GF: How important is having a top team?

Autret-Cornet: In small companies like ours, resources are stretched, and so it is critical to have the best talent to achieve our strategic goals. I aim to bring on board team members who not only have the right skills and experience but also align with our company values and culture. As CFO, I also head up human resources, legal, and information technology—so it’s critical to have people who are highly accountable, incredibly engaged, and collaborate well across the organization.

GF: Can European governments do more to boost innovation?

Autret-Cornet: European countries can increase investment in research and development, provide tax incentives for innovative companies, and foster collaboration between academia and industry. We are seeing an increased use of artificial intelligence to speed up drug discovery and development processes. OSE recently announced a strategic collaboration in this space with Scienta Lab, a leader in AI-driven precision immunology.

GF: How are you making use of AI in finance at OSE?

Autret-Cornet: AI has been implemented for two years in our financial system. Already we have seen how it helps improve efficiency, accuracy, and decision-making processes: for example, in predictive analytics, scenario modeling, risk management, and automating routine tasks. I see AI evolving to become an integral part of financial operations, providing deeper insights and enabling more strategic decision-making. Beyond the AI tools we are using in our research and development processes, we are deploying tools that help employees in some of their daily tasks, and I’ll be keeping an eye out to see what more we can do.

GF: What keeps you up at night?

Autret-Cornet: Ensuring the financial health and sustainability of the company is always on my mind. Additionally, staying ahead of market trends and regulatory changes is a constant challenge.