OncoSil Medical Limited (ASX: OSL) ("OncoSil Medical" or "the Company") is pleased to note the initiation of independent analyst coverage by Taylor Collison, which highlights the Company’s compelling growth outlook and upcoming catalyst-rich period.

The report assigns OncoSil Medical a Speculative Buy rating with a price target of A$1.46 per share (fully diluted), reflecting what the analyst views as a material disconnect between the Company’s current valuation and its long-term potential.

The coverage underscores the Company’s differentiated technology—OncoSil™, a targeted radiotherapy device designed for the treatment of unresectable locally advanced pancreatic cancer (LAPC)—and its positioning within a large, underserved market where treatment outcomes remain poor.

A Catalyst-Driven Growth Phase

The report identifies several near-term milestones expected to support increased adoption and commercial momentum:

• Expected decision under the Humanitarian Device Exemption (HDE) pathway for distal bile duct cancer (anticipated August 2026)

• Commencement of the fully funded German G-BA randomised trial (expected in 2H CY2026)

• Potential EU and UK label expansion, including use in addition to FOLFIRINOX and expansion to percutaneous delivery

These developments are expected to strengthen clinical validation, expand the addressable market, and support increased utilisation across key geographies.

Expanding Market Opportunity

The analyst estimates a ~US$631 million serviceable addressable market, encompassing ex-US pancreatic cancer and US bile duct cancer indications. In this context, OncoSil’s ability to deliver targeted radiation directly to tumours is seen as a differentiated approach that may complement existing systemic therapies.

Building Commercial Momentum

OncoSil Medical continues to expand its European footprint, with a growing number of active treatment sites and improving reimbursement pathways. The Company is also progressing manufacturing capabilities, supporting the transition toward increased scale and improved margins.

Positioning for Potential Re-rating

The report concludes that as clinical data matures and commercial traction increases, OncoSil Medical is entering a phase where execution against key milestones could support a meaningful re-rating of the Company.

If you would like a copy of the full report, please contact Taylor Collison Limited.

Important Notice:
The report referenced above has been prepared by Taylor Collison Limited. It is independent third-party research and reflects the views of the analyst. Investors should consider their own circumstances and seek professional advice before making any investment decisions.