Innate Pharma Reports Full Year 2024 Financial Results and Business Update
Innate Pharma reported its 2024 financial results with several key developments. The FDA granted Breakthrough Therapy Designation to lacutamab for Sézary syndrome treatment. The company's first patient was dosed in Phase 1 study for IPH4502 (Nectin-4 ADC) in advanced solid tumors, and IPH6501 is being evaluated in B-cell non-Hodgkin's lymphoma.
Financial highlights include a cash position of €91.1 million as of December 31, 2024, with runway extended to mid-2026. Revenue decreased 67.4% to €20.1 million in 2024 (from €61.6 million in 2023). The Institute for Follicular Lymphoma Innovation (IFLI) announced up to $7.9 million investment to support IPH6501 development.
Notable pipeline progress includes positive data from the TELLOMAK Phase 2 study and advancement of the ANKET® platform programs. The company maintains strategic focus on NK-cell engager platform innovation and ADC program acceleration.
Innate Pharma ha riportato i risultati finanziari del 2024 con diversi sviluppi chiave. La FDA ha concesso la Designazione di Terapia Innovativa a lacutamab per il trattamento della sindrome di Sézary. Il primo paziente dell'azienda è stato trattato nel primo studio di Fase 1 per IPH4502 (Nectin-4 ADC) in tumori solidi avanzati, e IPH6501 è attualmente in fase di valutazione per il linfoma non-Hodgkin a cellule B.
I punti salienti finanziari includono una posizione di cassa di 91,1 milioni di euro al 31 dicembre 2024, con un'estensione della liquidità fino a metà 2026. I ricavi sono diminuiti del 67,4% a 20,1 milioni di euro nel 2024 (rispetto ai 61,6 milioni di euro nel 2023). L'Istituto per l'Innovazione del Linfoma Follicolare (IFLI) ha annunciato un investimento fino a 7,9 milioni di dollari per sostenere lo sviluppo di IPH6501.
I progressi significativi nel pipeline includono dati positivi dallo studio TELLOMAK di Fase 2 e l'avanzamento dei programmi della piattaforma ANKET®. L'azienda mantiene un focus strategico sull'innovazione della piattaforma di ingegnerizzazione delle cellule NK e sull'accelerazione del programma ADC.
Innate Pharma reportó sus resultados financieros de 2024 con varios desarrollos clave. La FDA otorgó la Designación de Terapia Innovadora a lacutamab para el tratamiento del síndrome de Sézary. El primer paciente de la empresa fue tratado en el estudio de Fase 1 para IPH4502 (Nectin-4 ADC) en tumores sólidos avanzados, y IPH6501 se está evaluando en linfoma no-Hodgkin de células B.
Los aspectos financieros destacados incluyen una posición de efectivo de 91,1 millones de euros a 31 de diciembre de 2024, con un plazo de liquidez extendido hasta mediados de 2026. Los ingresos disminuyeron un 67,4% a 20,1 millones de euros en 2024 (desde 61,6 millones de euros en 2023). El Instituto para la Innovación del Linfoma Follicular (IFLI) anunció una inversión de hasta 7,9 millones de dólares para apoyar el desarrollo de IPH6501.
Los avances notables en la pipeline incluyen datos positivos del estudio TELLOMAK de Fase 2 y el avance de los programas de la plataforma ANKET®. La empresa mantiene un enfoque estratégico en la innovación de la plataforma de enganche de células NK y la aceleración del programa ADC.
Innate Pharma는 2024년 재무 결과를 보고하며 여러 주요 개발 사항을 발표했습니다. FDA는 세자리 증후군 치료를 위한 lacutamab에 혁신 치료제 지정을 부여했습니다. 회사의 첫 환자는 고급 고형 종양에 대한 IPH4502 (Nectin-4 ADC)의 1상 연구에서 투여되었으며, IPH6501은 B세포 비호지킨 림프종에서 평가되고 있습니다.
재무 하이라이트에는 2024년 12월 31일 기준 9100만 유로의 현금 보유액이 포함되어 있으며, 자금 조달 기간이 2026년 중반까지 연장되었습니다. 2024년 수익은 2023년 6160만 유로에서 2010만 유로로 67.4% 감소했습니다. 모낭 림프종 혁신 연구소(IFLI)는 IPH6501 개발을 지원하기 위해 최대 790만 달러의 투자를 발표했습니다.
주목할 만한 파이프라인 진행 상황에는 TELLOMAK 2상 연구에서의 긍정적 데이터와 ANKET® 플랫폼 프로그램의 발전이 포함됩니다. 회사는 NK세포 결합체 플랫폼 혁신과 ADC 프로그램 가속화에 전략적 초점을 유지하고 있습니다.
Innate Pharma a rapporté ses résultats financiers pour 2024 avec plusieurs développements clés. La FDA a accordé la Désignation de Thérapie Innovante à lacutamab pour le traitement du syndrome de Sézary. Le premier patient de l'entreprise a été traité dans l'étude de Phase 1 pour IPH4502 (Nectin-4 ADC) dans des tumeurs solides avancées, et IPH6501 est en cours d'évaluation dans le lymphome non-Hodgkin à cellules B.
Les points forts financiers incluent une position de trésorerie de 91,1 millions d'euros au 31 décembre 2024, avec une prolongation de la liquidité jusqu'à la mi-2026. Les revenus ont diminué de 67,4 % pour atteindre 20,1 millions d'euros en 2024 (contre 61,6 millions d'euros en 2023). L'Institut pour l'Innovation du Lymphome Folliculaire (IFLI) a annoncé un investissement allant jusqu'à 7,9 millions de dollars pour soutenir le développement de l'IPH6501.
Les progrès notables de la pipeline incluent des données positives de l'étude TELLOMAK de Phase 2 et l'avancement des programmes de la plateforme ANKET®. L'entreprise maintient un focus stratégique sur l'innovation de la plateforme d'engagement des cellules NK et l'accélération du programme ADC.
Innate Pharma hat ihre finanziellen Ergebnisse für 2024 mit mehreren wichtigen Entwicklungen veröffentlicht. Die FDA hat lacutamab für die Behandlung des Sézary-Syndroms die Durchbruch-Therapie-Designierung erteilt. Der erste Patient des Unternehmens wurde im Rahmen der Phase-1-Studie für IPH4502 (Nectin-4 ADC) bei fortgeschrittenen soliden Tumoren behandelt, und IPH6501 wird bei B-Zell-Nicht-Hodgkin-Lymphom evaluiert.
Zu den finanziellen Höhepunkten gehören eine Barmittelposition von 91,1 Millionen Euro zum 31. Dezember 2024, mit einer Liquiditätsverlängerung bis Mitte 2026. Die Einnahmen sanken um 67,4 % auf 20,1 Millionen Euro im Jahr 2024 (von 61,6 Millionen Euro im Jahr 2023). Das Institut für Innovation bei follikulärem Lymphom (IFLI) gab eine Investition von bis zu 7,9 Millionen Dollar zur Unterstützung der Entwicklung von IPH6501 bekannt.
Bemerkenswerte Fortschritte in der Pipeline umfassen positive Daten aus der TELLOMAK-Phase-2-Studie und den Fortschritt der ANKET®-Plattformprogramme. Das Unternehmen behält einen strategischen Fokus auf Innovationen der NK-Zell-Engager-Plattform und die Beschleunigung des ADC-Programms bei.
- FDA Breakthrough Therapy Designation granted for lacutamab
- Cash runway extended to mid-2026
- First patient dosed in Phase 1 study for IPH4502
- Up to $7.9M investment from IFLI for IPH6501 development
- Positive TELLOMAK Phase 2 study results
- Revenue declined 67.4% to €20.1M in 2024
- Cash position decreased to €91.1M from €102.3M year-over-year
- Sanofi terminated license agreement for IPH67 program
- SAR'514/IPH6401 Phase 1/2 study terminated early
Insights
Innate Pharma's 2024 results reveal significant pipeline advancement despite revenue contraction. The FDA Breakthrough Therapy Designation for lacutamab represents a major regulatory milestone that could accelerate approval for relapsed/refractory Sézary syndrome. This designation isn't granted lightly and signals the therapy's potential to address a serious unmet need in this rare T-cell lymphoma.
The company has executed well on clinical advancement with first patient dosing in two key programs: IPH6501 (proprietary ANKET® NK-cell engager) in B-cell lymphoma and IPH4502 (Nectin-4 ADC) in solid tumors. These represent the company's strategic pivot toward next-generation modalities with potentially differentiated profiles in competitive spaces.
Financially, while revenue decreased substantially (€20.1m vs €61.6m year-prior), this was expected due to the non-recurring nature of the significant upfront payment from Sanofi in 2023. The cash position of €91.1m with runway extension to mid-2026 provides sufficient operational flexibility through multiple clinical readouts. The IFLI partnership bringing up to
The transitioning portfolio shows maturation with both promising data (monalizumab's increased response rates in NSCLC) and strategic reshuffling (regaining rights to IPH67 after Sanofi termination). Overall, Innate is successfully balancing pipeline advancement with prudent cash management during this capital-intensive clinical development phase.
From a clinical perspective, Innate's data readouts strengthen their position in difficult-to-treat hematologic malignancies. The lacutamab Breakthrough Therapy Designation represents significant regulatory recognition of its efficacy profile in Sézary syndrome, where treatment options are severely The favorable quality-of-life data presented at ASH 2024 is particularly noteworthy as it addresses patient-centric outcomes beyond tumor response.
The ANKET® platform continues to demonstrate scientific validity with IPH6501's preclinical data showing superior B-cell depletion with reduced cytokine release compared to T-cell engagers - addressing a key safety concern with current immunotherapies. The publication in Science Immunology provides critical peer validation of this mechanism.
In the broader oncology landscape, Innate's approach to both NK-cell engagers and ADCs represents rational diversification into two of the most promising modalities. The IPH4502 data showing efficacy in enfortumab vedotin refractory models suggests potential utility in patients who've progressed on current Nectin-4 targeting therapies.
SAR'579's preliminary efficacy signal in AML (5 complete responses at the 1mg/kg dose) is encouraging in this difficult-to-treat population, with the durable complete responses exceeding 10 months in three patients demonstrating meaningful disease control. The continued progress of monalizumab in the PACIFIC-9 and NeoCOAST-2 trials, with the latter showing
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FDA Breakthrough Therapy Designation granted to lacutamab for relapsed or refractory Sézary syndrome
- New data, including lacutamab improved health-related quality of life data from TELLOMAK Phase 2 study in patients with cutaneous T cell lymphoma were presented at ASH 2024
- The first patient was dosed in a Phase 1 study for IPH4502, Nectin-4 ADC in patients with selected advanced solid tumors
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IPH6501, Innate's proprietary ANKET® drug candidate, is being evaluated in a Phase 1/2 clinical trial in patients with B-cell non-Hodgkin's lymphoma
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Innate Pharma and the Institute for Follicular Lymphoma Innovation (IFLI) announced up to
$7.9m
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Innate Pharma and the Institute for Follicular Lymphoma Innovation (IFLI) announced up to
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Cash position of
€91.1 million 1 as of December 31, 2024 with a cash horizon extended to mid 2026 - Conference call to be held today at 2:00 p.m. CET / 9:00 a.m. EDT
Innate Pharma SA (Euronext Paris: IPH; Nasdaq: IPHA) (“Innate” or the “Company”) today reported its consolidated financial results for the year ending December 31, 2024. The consolidated financial statements are attached to this press release.
“Our strategy is clear: drive innovation through our ANKET® NK-cell engager platform and accelerate our ADC programs. We are making strong clinical progress, with our lead proprietary ANKET®, IPH6501 advancing in B-cell non-Hodgkin’s lymphoma and commencing the Phase 1 study for the Nectin-4 ADC IPH4502 in solid tumors. The FDA’s Breakthrough Therapy Designation for lacutamab highlights its potential to transform treatment for Sézary syndrome. With these achievements as well as disciplined financial management, we are pleased to extend our cash runway to mid 2026, reinforcing our commitment to delivering innovative new therapies for patients,” said Jonathan Dickinson, Chief Executive Officer of Innate Pharma.
Webcast and conference call will be held today at 2:00pm CET (9:00am EDT) Access to live webcast: https://events.q4inc.com/attendee/485278198
Participants may also join via telephone using the registration link below: https://registrations.events/direct/Q4I39065986
This information can also be found on the Investors section of the Innate Pharma website, www.innate-pharma.com. A replay of the webcast will be available on the Company website for 90 days following the event.
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1 Including short term investments ( |
Pipeline highlights:
ANKET® (Antibody-based NK cell Engager Therapeutics):
ANKET® is Innate’s proprietary platform for developing next-generation, multi-specific NK cell engagers to treat certain types of cancer. Innate’s pipeline includes five drug candidates that have emerged from the ANKET® platform:
IPH6501 (proprietary)
IPH6501 is Innate’s proprietary CD20-targeted IL-2v bearing second-generation ANKET®. In March 2024 the first patient was dosed in the Phase 1/2 clinical trial evaluating IPH6501 in B cell Non-Hodgkin’s lymphoma (B-NHL). The study is planned to enroll up to 184 patients. Clinical sites are open in the US,
- Innate presented preclinical data of IPH6501 at the American Society of Clinical Oncology (ASCO) Annual Meeting and European Hematology Association (EHA) Annual congress in June 2024. Preclinical data showed that IPH6501 depletes autologous CD20+ B cells from healthy donors with greater efficacy and lower induction of pro-inflammatory cytokines than a CD20-T-cell engager. IPH6501 also effectively and preferentially stimulates NK cell proliferation from peripheral blood mononuclear cells of relapsed /refractory B-cell non-hodgkin’s lymphoma (R/R NHL) patients.
- In November 2024, preclinical data demonstrating the potential of IPH6501 were published in Science Immunology.
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Innate Pharma and the Institute for Follicular Lymphoma (IFLI) entered into an agreement to clinically study the potential of IPH6501 in follicular lymphoma (FL). To support the Phase 1/2 trial and inclusion of FL patients, IFLI will initially invest
3m USD into new shares of Innate, issued through a capital increase reserved to IFLI at a price of€1.56 per share and representing2.26% of the share capital of Innate. IFLI may also invest up to an additional4.9m USD into new shares of Innate, depending on the completion of certain milestones, at a price to be determined at the time of the said investments.
IPH67 (proprietary)
Following termination of its license by Sanofi during the third quarter 2024, Innate regained full rights on IPH67, a NK-cell engager program in solid tumors from Innate’s ANKET® platform under development.
SAR’579/IPH6101, SAR’514/IPH6401, IPH62 (partnered with Sanofi)
SAR’579/IPH6101
- The Phase 1/2 clinical trial by Sanofi is progressing well. Updated efficacy and safety results from the dose-escalation part of the Phase 1/2 study with SAR'579 / IPH6101, were shared in an oral presentation at the EHA 2024 Congress. The data demonstrated that SAR’579 continues to show clinical benefit and durable responses along with a favorable safety profile in patients with relapsed or refractory acute myeloid leukemia (AML), with 5 complete responses (4 CR / 1 CRi) achieved at 1 mg/kg, with durable CR (>10 months) observed in 3 patients.
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In April 2024, Sanofi advanced SAR’579 / IPH6101, to the Phase 2 preliminary dose expansion of the trial. Under the terms of the 2016 research collaboration with Sanofi, the progression to the dose expansion part of the trial has triggered a milestone payment from Sanofi to Innate of
€4m .
SAR’514/IPH6401
- The Sanofi-led Phase 1/2 study (clinical study identifier: NCT05839626) for the treatment of patients with relapsed or refractory multiple myeloma will be terminated early as SAR’514/IPH6401 will now be pursued in autoimmune indications.
IPH62 and other target
- IPH62 is a NK-cell engager program targeting B7-H3 under development from Innate’s ANKET® platform. Following a research collaboration period and upon candidate selection, Sanofi will be responsible for all development, manufacturing and commercialization.
- Sanofi still retains the option of one additional ANKET® target under the terms of the 2022 research collaboration and license agreement.
Antibody Drug Conjugates:
IPH4502 (Nectin-4 ADC):
IPH4502 is Innate’s novel and differentiated topoisomerase I inhibitor ADC targeting Nectin-4.
- First preclinical data for IPH45 were presented in an oral presentation at the American Association for Cancer Research (AACR) Annual Meeting 2024 and the Society for Immunotherapy of Cancer (SITC) 2024. In preclinical studies, IPH4502 showed anti-tumor efficacy in vivo, in Nectin-4 expressing tumors including in enfortumab vedotin refractory models.
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In September, the
U.S Food and Drug Administration cleared Innate’s investigational new drug (IND) application to initiate a Phase 1 clinical study of IPH4502 in Nectin-4 expressing solid tumor indications. - The first patient was dosed in a Phase 1 study in January 2025. The Phase 1 includes a part 1 dose escalation and a part 2 dose optimization, and will assess the safety, tolerability, and preliminary efficacy of IPH4502 in advanced solid tumors known to express Nectin-4, including but not limited to urothelial carcinoma, non-small cell lung, breast, ovarian, gastric, esophageal, and colorectal cancers. The study plans to enroll approximately 105 patients.
- New preclinical data will be presented at the AACR Annual Meeting 2025.
Lacutamab (anti-KIR3DL2 antibody):
Cutaneous T Cell Lymphoma
TELLOMAK is a global, open-label, multi-cohort Phase 2 clinical trial evaluating lacutamab in patients with Sézary syndrome and mycosis fungoides.
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Favorable results from the Phase 2 TELLOMAK study with lacutamab in mycosis fungoides were presented at the ASCO Annual Meeting in June 2024. The data demonstrate that treatment with lacutamab resulted in meaningful antitumor activity, regardless of the KIR3DL2 baseline expression, and an overall favorable safety profile. The global objective response rate was
16.8% (Olsen 2011) and22.4% (Olsen 2022), including 2 complete responses and 16 partial responses. - Quality of life data and translational analysis from the TELLOMAK trial in patients with relapsed/refractory cutaneous T-cell lymphoma were presented at the ASH Annual Meeting 2024.
- Long Term Follow up for Sezary syndrome and mycosis fungoides will be presented at an upcoming medical congress.
- During the financial quarter ending September 30, 2024, the FDA provided encouraging initial feedback on Innate Pharma’s proposed regulatory pathway, which could potentially include Accelerated Approval for Sézary syndrome, and the Company continues to align with the FDA around the confirmatory Phase 3 trial.
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In February 2025, the FDA granted Breakthrough Therapy Designation to lacutamab for relapsed or refractory Sézary syndrome based on TELLOMAK Phase 2 results demonstrating efficacy and a favorable safety profile in patients with advanced Sézary syndrome, heavily pretreated, post-mogamulizumab. Breakthrough Therapy Designation is intended to accelerate the development and regulatory review in the
U.S. of drugs that are intended to treat a serious condition. Partnering discussions are underway.
Peripheral T Cell lymphoma (PTCL)
The Phase 2 KILT (anti-KIR in T Cell Lymphoma) trial, an investigator-sponsored, randomized controlled trial led by the Lymphoma Study Association (LYSA) to evaluate lacutamab in combination with chemotherapy GEMOX (gemcitabine and oxaliplatin) versus GEMOX alone in patients with KIR3DL2-expressing relapsed/refractory PTCL is ongoing and continues to recruit patients.
Monalizumab (anti-NKG2A antibody), partnered with AstraZeneca:
- The Phase 3 PACIFIC-9 trial run by AstraZeneca evaluating durvalumab (anti-PD-L1) in combination with monalizumab or AstraZeneca’s oleclumab (anti-CD73) in patients with unresectable, Stage III non-small cell lung cancer (NSCLC) who have not progressed following definitive platinum-based concurrent chemoradiation therapy (CRT) is ongoing.
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After the period, the Independent Data Monitoring Committee recommended the continuation of the Phase 3 PACIFIC-9 trial based on a pre-planned analysis.
- Updated results from COAST, a Phase 2 study of durvalumab with oleclumab or monalizumab in patients with Stage III unresectable non-small-cell lung cancer were presented at the ASCO 2024 Annual Meeting, in June 2024 showing increased objective response rate, prolonged progression free survival, and trended toward improved overall survival compared to durvalumab alone.
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AstraZeneca presented interim results from the randomized NeoCOAST-2 Phase 2 platform trial during the 2024 World Conference on Lung Cancer in September 2024. In this preliminary analysis on the first 60 of 72 patients randomized to Arm 2, monalizumab added to durvalumab plus platinum-based chemotherapy doublet induced a pathological complete response rate of
26.7% [95% CI; 16.1–39.7] and a major pathological response rate of53.3% [95% CI; 40.0–66.3] which are numerically higher than the durvalumab plus platinum doublet approved regimen. Treatment in Arm 2 showed manageable safety profile and no impact on surgical rate. The NeoCOAST-2 platform study is intended to assess the safety and efficacy of neoadjuvant durvalumab alone or combined with novel immuno-oncology agents and chemotherapy in resectable, early-stage NSCLC, followed by adjuvant treatment with durvalumab with or without the novel agents.
IPH5201 (anti-CD39), partnered with AstraZeneca:
- The MATISSE Phase 2 clinical trial conducted by Innate in neoadjuvant lung cancer for IPH5201, an anti-CD39 blocking monoclonal antibody developed in collaboration with AstraZeneca, is ongoing and recruitment is on track. Following a pre-planned interim analysis, the MATISSE Phase 2 trial continues according to plans.
IPH5301 (anti-CD73):
- The investigator-sponsored CHANCES Phase 1 trial of IPH5301 with Institut Paoli-Calmettes is ongoing.
Corporate Update:
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As of December 31, 2024, the balance available under our April 2023 sales agreement under the At-The-Market program remains at
$75 million
Post period event
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In February 2025, Arvind Sood, Executive Vice President, President of
U.S. Operations left the Company and resigned from his position as member of the Executive Board.
Financial highlights for 2024:
The key elements of Innate’s financial position and financial results as of and for the year ended December 31, 2024 are as follows:
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Cash, cash equivalents, short-term investments and financial assets amounting to
€91.1 million (€m) as of December 31, 2024 (€102.3m as of December 31, 2023), including€10.3m in short-term investments (€9.8m as of December 31, 2023). -
As of December 31, 2024, financial liabilities amount to
€31.0m (€39.9m as of December 31, 2023). This change is mainly due to loan repayments. -
Revenue and other income from continuing operations amounted to
€20.1m in 2024 (2023:€61.6m , -67.4% ). It mainly comprises revenue from collaboration and licensing agreements (€12.6m in 2024 vs€51.9m in 2023, -75.7% ), and research tax credit (€7.5m in 2024 vs€9.7m in 2023, -23.3% ):-
Revenue from collaboration and licensing agreements mainly resulted from the partial or entire recognition of the proceeds received pursuant to the agreements with AstraZeneca and Sanofi. They are recognized when the entity's performance obligation is met. Their accounting is made at a point in time or spread over time according to the percentage of completion of the work that the Company is committed to carry out under these agreements:
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(i) Revenue from collaboration and licensing agreements for monalizumab decreased by
€5.1m to€4.4m in 2024 (€9.5m in 2023). This decrease is mainly due to the recognition of an increase in revenues in the first half of 2023. Indeed, at June 30, 2023, the Company had carried out an analysis of the cost base used to calculate the progress of Phase 1/2 trials, taking into account their progression. This analysis led to a reduction in the cost base through a re-estimation of projected expenditure. Consequently, this adjustment to the cost base had a positive impact on the percentage of completion and led to the recognition of additional revenue of5.9 million euros for the first half of 2023, which did not recur in 2024; -
(ii) Revenue related to the research collaboration and licensing agreement signed with Sanofi in 2022 amounted
€2.1m as of December 31, 2024 (€34.7m as of December 31, 2023). On January 25, 2023, the Company announced the expiration of the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 and the effectiveness of the licensing agreement as of January 24, 2023. Consequently, the Company received an upfront payment of€25.0m in March 2023, including€18.5m for the exclusive license,€1.5m for the research work and€5.0m for the two additional targets options, for which the Company will recognize the related revenues either at the reporting date or the latest five years after the effective date. The€18.5m upfront payment relating to the exclusive license has been fully recognized in revenue since June 30, 2023. On December 19, 2023, the Company announced that Sanofi had exercised one of the two license options for a new program based on the Company's ANKET® platform. This decision triggered a milestone payment of€15.0m , including€13.3m for the exclusive license, fully recognized in revenue as of December 31, 2023, and€1.7m for research work to be carried out by the Company as well as the recognition in revenue of an amount of€2.5m initially received in March 2023 in connection with this option. On October 9, 2024, the company received a letter terminating the license agreement for IPH67, a NKCE program, from ANKET® platform, currently under development in solid tumors. Termination was effective at the end of a 90 days notice period, i.e. on January 7, 2025. As a result, Innate did recover full rights to IPH67; -
(iii) Revenue related to the license and collaboration agreement signed with Sanofi in 2016 increased by
€2.0m , to€4.0m for year ended December 31, 2024, as compared to€2.0m for year ended December 31, 2023. On April 15, 2024, the Company announced the treatment of the first patient in the phase 2 dose extension of the Sanofi-led study evaluating the NK Cell EngagerSAR443579 /IPH6101 in various blood cancers. Under the terms of the 2016 agreement, this trial progress triggered a milestone payment of4.0 million euros , fully recognized in revenue during the first quarter of 2024 and collected by the Company on May 17, 2024. As a reminder, last year, the Company announced that, in June 2023, the first patient was dosed in a Sanofi-sponsored Phase 1/2 clinical trial evaluating SAR'514/IPH6401 in relapsed or refractory Multiple Myeloma. As provided by the licensing agreement signed in 2016, Sanofi made a milestone payment of€2.0 million , fully recognized in revenue since of June 30, 2023. This amount was received by the Company on July 21, 2023;
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(i) Revenue from collaboration and licensing agreements for monalizumab decreased by
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The research tax credit (CIR) of
€7.5m of as December 31, 2024 (€9.7m for year ended December 31, 2023. The24% decrease resulted from the eligible costs decrease.
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Revenue from collaboration and licensing agreements mainly resulted from the partial or entire recognition of the proceeds received pursuant to the agreements with AstraZeneca and Sanofi. They are recognized when the entity's performance obligation is met. Their accounting is made at a point in time or spread over time according to the percentage of completion of the work that the Company is committed to carry out under these agreements:
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Operating expenses from continuing operations amounted to
€71.7m in 2024 (2023:€74.3m , -3.5% ):-
General and administrative (G&A) expenses from continuing activities amounted to
€19.7m in 2024 (2023:€18.3m ,7.8% ). These expenses represented25% and27% of net operating expenses for continuing operations for the years ended December 31, 2023 and 2024 respectively. G&A expenses mainly comprise personnel costs not allocated to research and development, as well as costs of services relating to the management of the Company. The increase in this item between 2023 and 2024 results cumulatively from (i) the increase in Other income and expenses, mainly related to the financing of the 2023 R&D tax credit for€0.8m ; (ii) the increase in non-scientific fees, partially offset by (iii) the decrease in personnel expenses, and (iv) the decrease in depreciation and amortization. -
Research and development (R&D) expenses from continuing activities amounted to
€52.0m in 2024 (2023:€56.0m , -7.2% ). This change was mainly due to a decrease in direct research and development expenses in line with the maturity of clinical development programs and a decrease in indirect research and development expenses mainly in the fields of personnel costs and depreciation, amortization and impairment.
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General and administrative (G&A) expenses from continuing activities amounted to
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A net financial income of
€2.1m in 2024 (2023:€5.1m gain). The financial income has been reduced due to unfavorable fx impact. -
A net loss of
€49.5m in 2024 (2023: net loss of€7.6m ).
The table below summarizes the IFRS consolidated financial statements as of and for the year ended December 31, 2024, including 2023 comparative information.
In thousands of euros, except for data per share |
December 31, 2024 |
December 31, 2023 |
Revenue and other income |
20,121 |
61,641 |
Research and development |
(51,980) |
(56,022) |
Selling, general and administrative |
(19,716) |
(18,288) |
Total operating expenses |
(71,696) |
(74,310) |
Operating income (loss) before impairment |
(51,575) |
(12,669) |
Impairment of intangible asset |
— |
— |
Operating income (loss) after impairment |
(51,575) |
(12,669) |
Net financial income (loss) |
2,104 |
5,099 |
Income tax expense |
— |
— |
Net income (loss) from continuing operations |
(49,471) |
(7,570) |
Net income (loss) from discontinued operations |
— |
— |
Net income (loss) |
(49,471) |
(7,570) |
Weighted average number of shares outstanding (in thousands) |
81,052 |
80,453 |
Basic income (loss) per share |
(0.61) |
(0.09) |
Diluted income (loss) per share |
(0.61) |
(0.09) |
Basic income (loss) per share from continuing operations |
(0.61) |
(0.09) |
Diluted income (loss) per share from continuing operations |
(0.61) |
(0.09) |
Basic income (loss) per share from discontinued operations |
— |
— |
Diluted income (loss) per share from discontinued operations |
— |
— |
|
||
|
December 31, 2024 |
December 31, 2021 |
Cash, cash equivalents and financial asset |
91,051 |
102,252 |
Total assets |
111,059 |
175,187 |
Shareholders’ equity |
8,834 |
51,901 |
Total financial debt |
30,995 |
39,893 |
About Innate Pharma:
Innate Pharma S.A. is a global, clinical-stage biotechnology company developing immunotherapies for cancer patients. Its innovative approach aims to harness the innate immune system through three therapeutic approaches: multi-specific NK Cell Engagers via its ANKET® (Antibody-based NK cell Engager Therapeutics) proprietary platform and Antibody Drug Conjugates (ADC) and monoclonal antibodies (mAbs).
Innate’s portfolio includes several ANKET® drug candidates to address multiple tumor types as well as IPH4502, a differentiated ADC in development in solid tumors. In addition, anti-KIR3DL2 mAb lacutamab is developed in advanced form of cutaneous T cell lymphomas and peripheral T cell lymphomas, and anti-NKG2A mAb monalizumab is developed with AstraZeneca in non-small cell lung cancer.
Innate Pharma is a trusted partner to biopharmaceutical companies such as Sanofi and AstraZeneca, as well as leading research institutions, to accelerate innovation, research and development for the benefit of patients.
Headquartered in
Learn more about Innate Pharma at www.innate-pharma.com and follow us on LinkedIn and X.
Information about Innate Pharma shares:
ISIN code Ticker code LEI |
FR0010331421 Euronext: IPH Nasdaq: IPHA 9695002Y8420ZB8HJE29 |
Disclaimer on forward-looking information and risk factors:
This press release contains certain forward-looking statements, including those within the meaning of applicable securities laws, including the Private Securities Litigation Reform Act of 1995. The use of certain words, including “anticipate,” “believe,” “can,” “could,” “estimate,” “expect,” “may,” “might,” “potential,” “expect” “should,” “will,” or the negative of these and similar expressions, is intended to identify forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks and uncertainties include, among other things, the uncertainties inherent in research and development, including related to safety, progression of and results from its ongoing and planned clinical trials and preclinical studies, review and approvals by regulatory authorities of its product candidates, the Company’s reliance on third parties to manufacture its product candidates, the Company’s commercialization efforts and the Company’s continued ability to raise capital to fund its development. For an additional discussion of risks and uncertainties, which could cause the Company's actual results, financial condition, performance or achievements to differ from those contained in the forward-looking statements, please refer to the Risk Factors (“Facteurs de Risque") section of the Universal Registration Document filed with the French Financial Markets Authority (“AMF”), which is available on the AMF website http://www.amf-france.org or on Innate Pharma’s website, and public filings and reports filed with the
In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by the Company or any other person that the Company will achieve its objectives and plans in any specified time frame or at all. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
This press release and the information contained herein do not constitute an offer to sell or a solicitation of an offer to buy or subscribe to shares in Innate Pharma in any country.
Summary of Consolidated Financial Statements and Notes as of December 31, 2024
Consolidated Statements of Financial Position (in thousand euros) |
|
December 31, 2024 |
December 31, 2023 |
|
|
|
Assets |
|
|
|
|
|
Cash and cash equivalents |
66,396 |
70,605 |
Short-term investments |
14,374 |
21,851 |
Trade receivables and others - current |
4,972 |
55,557 |
Total current assets |
85,742 |
148,013 |
|
|
|
Intangible assets |
0 |
416 |
Property and equipment |
5,133 |
6,322 |
Non-current financial assets |
10,281 |
9,796 |
Other non-current assets |
575 |
87 |
Trade receivables and others - non-current |
9,328 |
10,554 |
Total non-current assets |
25,317 |
27,175 |
|
|
|
Total assets |
111,059 |
175,187 |
|
|
|
Liabilities |
|
|
Trade payables and others |
16,007 |
17,018 |
Collaboration liabilities – Current portion |
7,443 |
7,647 |
Financial liabilities – Current portion |
8,709 |
8,936 |
Deferred revenue – Current portion |
616 |
5,865 |
Provisions – Current portion |
207 |
171 |
Total current liabilities |
32,982 |
39,636 |
|
|
|
Collaboration liabilities – Non current portion |
41,128 |
45,030 |
Financial liabilities – Non-current portion |
22,286 |
30,957 |
Defined benefit obligations |
2,730 |
2,441 |
Deferred revenue – Non-current portion |
2,825 |
4,618 |
Provisions – Current portion |
274 |
603 |
Total non-current liabilities |
69,243 |
83,650 |
|
|
|
Share capital |
4,192 |
4,044 |
Share premium |
390,979 |
384,255 |
Retained earnings |
(336,893) |
(329,323) |
Other reserves |
27 |
495 |
Net income (loss) |
(49,471) |
(7,570) |
Total shareholders’ equity |
8,834 |
51,901 |
|
|
|
Total liabilities and shareholders’ equity |
111,059 |
175,187 |
Consolidated Statements of Income (loss) (in thousand euros) |
|
December 31, 2024 |
December 31, 2023 |
|
|
|
|
|
|
Revenue from collaboration and licensing agreements |
12,622 |
51,901 |
Government financing for research expenditures |
7,488 |
9,729 |
Sales |
11 |
11 |
|
|
|
Revenue and other income |
20,121 |
61,641 |
|
|
|
Research and development expenses |
(51,980) |
(56,022) |
Selling, general and administrative expenses |
(19,716) |
(18,288) |
Operating expenses |
(71,696) |
(74,310) |
|
|
|
Operating income (loss) before impairment of intangible assets |
(51,575) |
(12,669) |
|
|
|
Impairment of intangible assets |
— |
— |
|
|
|
Operating income (loss) after impairment of intangible assets |
(51,575) |
(12,669) |
|
|
|
Financial income |
6,079 |
6,934 |
Financial expenses |
(3,975) |
(1,835) |
Net financial income (loss) |
2,104 |
5,099 |
|
|
|
Net income (loss) before tax |
(49,471) |
(7,570) |
|
|
|
Income tax expense |
— |
— |
Net income (loss) from continuing operations |
(49,471) |
(7,570) |
|
|
|
Net income (loss) from discontinued operations |
0 |
0 |
|
|
|
Net income (loss) |
(49,471) |
(7,570) |
|
|
|
Net income (loss) per share: |
|
|
(in € per share) |
|
|
- basic income (loss) per share |
(0.61) |
(0.09) |
- diluted income (loss) per share |
(0.61) |
(0.09) |
- Basic income (loss) per share from continuing operations |
(0.61) |
(0.09) |
- Diluted income (loss) per share from continuing operations |
(0.61) |
(0.09) |
- Basic income (loss) per share from discontinued operations |
— |
— |
- Diluted income (loss) per share from discontinued operations |
— |
— |
Consolidated Statements of Cash Flows (in thousand euros) |
|
December 31, 2024 |
December 31, 2023 |
Net income (loss) |
(49,471) |
(7,570) |
Depreciation and amortization |
1,994 |
5,091 |
Employee benefits costs |
324 |
285 |
Provisions for charges |
(293) |
(966) |
Share-based compensation expense |
3,944 |
4,256 |
Change in valuation allowance on financial assets |
(1,335) |
(1,592) |
Gains (losses) on financial assets |
(885) |
544 |
Change in valuation allowance on financial assets |
(380) |
— |
Gains (losses) on assets and other financial assets |
— |
(991) |
Disposal of property and equipment (scrapping) |
20 |
470 |
Other profit or loss items with no cash effect |
24 |
6 |
Operating cash flow before change in working capital |
(46,058) |
(467) |
Change in working capital |
39,162 |
(32,092) |
Net cash generated from / (used in) operating activities: |
(6,896) |
(32,559) |
Acquisition of intangible assets, net |
— |
(2,000) |
Acquisition of property and equipment, net |
(391) |
(351) |
Disposal of property and equipment |
— |
150 |
Disposal of other assets |
— |
66 |
Acquisition of other assets |
— |
(3) |
Disposal of current financial instruments |
9,590 |
— |
Disposal of non-current financial instruments |
— |
22,768 |
Net cash generated from / (used in) investing activities: |
9,200 |
20,630 |
Proceeds from the exercise / subscription of equity instruments |
2,928 |
395 |
Repayment of borrowings |
(8,936) |
(2,361) |
Net cash generated from financing activities: |
(6,008) |
(1,966) |
Effect of the exchange rate changes |
(505) |
274 |
Net increase / (decrease) in cash and cash equivalents: |
(4,209) |
(13,619) |
Cash and cash equivalents at the beginning of the year: |
70,605 |
84,225 |
Cash and cash equivalents at the end of the year : |
66,396 |
70,605 |
Revenue and other income
The following table summarizes operating revenue for the periods under review:
In thousands of euro |
December 31, 2024 |
December 31, 2023 |
Revenue from collaboration and licensing agreements |
12,622 |
51,901 |
Government financing for research expenditures |
7,488 |
9,729 |
Other income |
11 |
11 |
Revenue and other income |
20,121 |
61,641 |
Revenue from collaboration and licensing agreements
Revenue from collaboration and licensing agreements from continuing operations decreased by
-
A
€5.1 million decrease in revenue related to monalizumab to€4.4 million for the year ended December 31, 2024, as compared to€9.5 million for the year ended December 31, 2023. This€5.1 million decrease is primarily explained by the accounting of an exceptional revenue catch-up during the first half of 2023. Indeed, as of June 30, 2023, the Company had conducted an analysis of the cost basis used to calculate the progress of Phase 1/2 trials in light of their advancement. This analysis led to a reduction in this cost basis through a reassessment of projected expenses. Consequently, this adjustment to the cost basis had a positive impact on the percentage of completion and resulted in the recognition of an additional revenue of€5.9 million for the first half of 2023, which did not recur in 2024. As of December 31, 2024, the amount not recognized as revenue amounted to€0.2 million , and is presented in full under "Current contract liabilities" given the maturity of the Phase 1/2 trials; -
The recognition of
€2.1 million in revenue as of December 31, 2024, relating to the research collaboration and licensing agreement signed with Sanofi in 2022. On January 25, 2023, the Company announced the expiration of the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 and the effectiveness of the licensing agreement as of January 24, 2023. Consequently, the Company received an upfront payment of€25.0m in March 2023, including€18.5m for the exclusive license,€1.5m for the research work and€5.0m for the two additional targets options, for which the Company will recognize the related revenues either at the reporting date or three years after the effective date. The€18.5m upfront payment relating to the exclusive license has been fully recognized in revenue since June 30, 2023. On December 19, 2023, the Company announced that Sanofi had exercised one of the two license options for a new program based on the Company's ANKET® platform. This decision triggered a milestone payment of€15.0m , including€13.3m for the exclusive license, fully recognized in revenue as of December 31, 2023, and€1.7m for research work to be carried out by the Company. Following the notification of the exercise of the option, the Company also recognized in revenue an amount of€2.5m initially received in March 2023 and related to this option. The cumulative payments of€3.2m received for research work are recognized on a straight-line basis over the duration of the research work that the Company has agreed to carry out. As of December 31, 2023, the Company recognize in revenue an amount of€2.1 million based on the stage of completion of this work. The remaining amount of€0.7 million is recognized in deferred-revenue. Sanofi still retains a license option for an additional ANKET® target, in accordance with the license agreement. Consequently, the corresponding upfront payment is also recognized in deferred-revenue as of December 31, 2023 for an amount of€2.5m . On October 9, 2024, the Company received a termination letter for the license agreement concerning this option. The termination ends the research work. The revenue of€1.7 million was therefore fully recognized as revenue on December 31, 2024; -
A
€2.0 million increase in revenue from the collaboration and research license agreement with Sanofi, to€4.0 million for the year ended December 31, 2024, as compared to€2.0 million for the year ended December 31, 2023. On April 15, 2024, the Company announced the treatment of the first patient in the dose-expansion phase 2 of the study conducted by Sanofi evaluating the NK Cell Engager IPH6101/SAR443579 in various blood cancers. According to the terms of the 2016 agreement, this trial progression triggered a milestone payment of€4.0 million , fully recognized as revenue during the first quarter of 2024, and was received by the Company on May 17, 2024. As a reminder, the Company announced that, in June 2023, the first patient was dosed in a Sanofi-sponsored Phase 1/2 clinical trial evaluating SAR'514/IPH6401 in relapsed or refractory Multiple Myeloma. As provided by the licensing agreement signed in 2016, Sanofi made a milestone payment of€2.0 million , fully recognized in revenue since of June 30, 2023. This amount was received by the Company on July 21, 2023; -
A
€0.9 million increase in revenue from invoicing of research and development costs to€2.1 million for the year ended December 31, 2024, as compared to€1.2 million for the year ended December 31, 2023.
Government funding for research expenditures
Government funding for research expenditures decreased by
The research tax credit is calculated as
Operating expenses
The table below presents our operating expenses from continuing operations for the years ended December 31, 2024 and 2023:
In thousands of euros |
December 31, 2024 |
December 31, 2023 |
Research and development expenses |
(51,980) |
(56,022) |
General and administrative expenses |
(19,716) |
(18,288) |
Operating expenses |
(71,696) |
(74,310) |
Research and development expenses
Research and development (“R&D”) expenses from continuing operations decreased by
Direct research and development expenses decreased by
As of December 31, 2024, the collaboration liabilities relating to monalizumab and the agreements signed with AstraZeneca in April 2015, October 2018 and September 2020 amounted to
Personnel and other expenses allocated to research and development decreased by
As of December 31, 2024, the Company had 139 employees, including Leadership Team members, in research and development functions, compared to 140 as of December 31, 2023.
General and administrative expenses
General and administrative (“G&A”) expenses from continuing operations increased by
Personnel expenses, which includes the compensation paid to our employees and consultants, decreased by
Non-scientific advisory and consulting expenses mostly consist of auditing, accounting, legal and hiring services. These expenses increased by
Other general and administrative expenses relate to intellectual property, depreciation and amortization and other general, administrative expenses. These expenses increased by
Financial income (loss), net
We recognized a net financial loss of
Balance sheet items
Cash, cash equivalents, short-term investments and financial assets (current and non-current) amounted to
The other key balance sheet items as of December 31, 2024 are:
-
Deferred revenue of
€3.4 million (including€2.8 million booked as ‘Deferred revenue – non-current portion’) and collaboration liabilities of€48.6 million (including€41.1 million booked as ‘Collaboration liability – non-current portion’) relating to the remainder of the initial payment received from AstraZeneca with respect to monalizumab, not yet recognized as revenue or used to co-fund the research and the development work performed by AstraZeneca including co-funding of the monalizumab program with AstraZeneca, notably the INTERLINK-1 and PACIFIC-9 Phase 3 trials; -
Receivables of
€14.3million including non-current receivables for€7.5 million from the French government related to the research tax credit for the 2024 after the loss of SME status since December 31, 2023; -
Shareholders’ equity of
€8.8 million , including the net loss of the period of€49.5 million ; -
Financial liabilities amounting to
€31.0 million (€39.9 million as of December 31, 2023).
Cash-flow items
The net cash flow used over the year ended December 31, 2024 amounted to
The net cash flow used during the period under review mainly results from the following:
-
Net cash used from operating activities of
€6.9 million , mainly explained by i) the receipt of€29.5 million related to 2019 and 2020 tax credit refunds, (ii) the receipt of€8.6 million pursuant to a financing agreement with Natixis including the assignment of the Company's receive with respect to future CIR payments (corresponding to the CIR for the financial year ending December 31, 2023 that will be paid in 2027), (iii) the receipt of€15.0 million in January 2024 following Sanofi's decision to exercise one of its two license option for an NK Cell Engager program in solid tumors, derived from the Company's ANKET® (Antibody-based NK Cell Engager Therapeutics) platform, pursuant to the terms of the research collaboration and license agreement signed in December 2022, (iv) the collection in May 2024 of€4.8 million (including value-added tax) the treatment of the first patient in the Phase 2 dose expansion part of the Sanofi-sponsored clinical trial evaluating NK Cell EngagerSAR443579 / IPH6101 in various blood cancer. As a reminder, in 2023, the net cash flow used in operating activities included (i) the receipt of€25.0 million from Sanofi in March 2023 following the entry into force of the research collaboration and licensing agreement signed in December 2022 under which the Company granted Genzyme Corporation, a wholly-owned subsidiary of Sanofi ("Sanofi") an exclusive licence to Innate Pharma's B7H3 ANKET® program and options on two additional targets, (ii) the receipt in May 2023 of a payment of€4.6 million ($5.0 million €2.0 million following the treatment of the first patient in the Phase 1/2 clinical trial sponsored by Sanofi evaluating IPH6401/SAR'514 in patients with relapsed or refractory multiple myeloma. Lastly, during 2023, the Company benefited from the early repayment of the CIR claim relating to the 2022 financial year, amounting to€9.2 million , paid to the Company by the French Treasury in July 2023. Excluding these specific effects, net cash flows used by operating activities for the year ended December 31, 2024 decreased by€9.4 million . This decrease is mainly explained by (i) the decrease in the operating expenses. -
Net cash generated in investing activities for an amount of
€9.2 million , mainly included a€4.2 million of current financial instrument with a July 2024 fixed term and various non current financial assets sales for a total of€5.0 million to cope with Company dollars cash needs. These cash in were partially offset by acquisitions of property, plant and equipment and intangible assets for a net amount€0.4 million . As a reminder, net cash flow used in investing activities for the year ended December 31, 2023 amounted to€20.6 million and were mainly composed of a disposal of a non-current financial instrument which generated a net cash collection of€22.8 million partially offset by acquisitions of property, plant and equipment and intangible assets for a net amount€2.2 million . -
Net cash flows from financing activities for an amount of
€6.0 million for the year ended December 31, 2024 as compared to net cash flows from financing activities of€2.0 million for the year ended December 31, 2023. Loan repayments amounted to€8.9 million for the year ended December 31, 2024 as compared to€2.4 million for the year ended December 31, 2023. The start of PGE loans repayment in 2024 result in an increase in repayment amounting to€7.0 million . Receipts from capital transactions amount to€2.9 million in 2024, compared with€0.2 million in 2023. The change is mainly explained by the amount received from a new equity partner for€2.9 million .
Post period event
- On January 27, 2025, the Company announced the first patient was dosed in its Phase 1 study (NCT06781983), investigating the safety and tolerability of IPH4502, an innovative Antibody-Drug Conjugate (ADC), in patients with advanced solid tumors known to express Nectin-4. The Phase 1, open-label, multi-center study, includes a Part 1 Dose Escalation and a Part 2 Dose Optimization, and will assess the safety, tolerability, and preliminary efficacy of IPH4502 as a single agent in advanced solid tumors known to express Nectin-4, including but not limited to urothelial carcinoma, non-small cell lung, breast, ovarian, gastric, esophageal, and colorectal cancers. The study plans to enroll approximately 105 patients.
-
On February 3, 2025, Mr. Arvind Sood resigned from his position as member of the Executive Board and left the Company. The position of Vice President, President of
U.S. Operations is not contemplated to be filled at this time. -
On February 17, 2025, the Company announced that the
U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy Designation (BTD) to lacutamab, an anti-KIR3DL2 cytotoxicity-inducing antibody, for the treatment of adult patients with relapsed or refractory (r/r) Sézary syndrome (SS) after at least 2 prior systemic therapies including mogamulizumab.
Nota
This press release contains financial data approved by the Executive Board on March 26, 2025 based on our consolidated financial statements for the year ended December 31, 2024. They were reviewed by the Supervisory Board on March 26, 2025. The audit is in progress at the date of this communication.
Risk factors
Risk factors (“Facteurs de Risque”) identified by the Company are presented in section 3 of the registration document (“Universal Registration Document”) filed with the French Financial Markets Authority (“Autorité des Marchés Financiers” or “AMF”), which is available on the AMF website http://www.amf-france.org or on the Company’s website as well as in the Risk Factors section of the Company’s Annual Report on Form 20-F for the year ended December 31, 2024 filed with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20250326363810/en/
For additional information, please contact:
Investors & Media
Innate Pharma
Henry Wheeler
Tel.: +33 (0)4 84 90 32 88
henry.wheeler@innate-pharma.fr
Newcap
Arthur Rouillé
Tel.: +33 (0)1 44 71 00 15
innate@newcap.eu
Source: Innate Pharma SA
FAQ
What is the significance of FDA Breakthrough Therapy Designation for IPHA's lacutamab?
How much cash does IPHA have and what is their runway?
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