Innate Pharma(IPHA)

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Innate Pharma(IPHA) - 2024 Q4 - Annual Report
2025-04-30 13:01
UNITED STATES OR OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report For the transition period from _________ to _________ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ende ...
Innate Pharma(IPHA) - 2024 Q4 - Earnings Call Transcript
2025-03-27 20:49
Financial Data and Key Metrics Changes - Revenue and other income from continuing operations amounted to EUR 20.1 million in 2024, primarily from collaboration licensing agreements and a resource tax credit [43] - Operating expenses from continuing operations totaled EUR 71.7 million in 2024, with 73% related to R&D, and general and administrative expenses increased by EUR 1.4 million compared to the prior year [44] - Cash, cash equivalents, short-term investments, and financial assets were EUR 91.1 million as of December 31, 2024, providing sufficient cash to fund operations through mid-2026 [46] Business Line Data and Key Metrics Changes - The ANKET platform is a critical component of the company's strategy, with three key programs: IPH65 in Phase 1, IPH61 in Phase 2, and IPH64 in Phase 1 [13][14][15] - The Nectin-4 targeted ADC, IPH45, had its first patients dosed in January 2025, following IND clearance in September 2024 [9][16] - Lacutamab has received FDA breakthrough therapy designation, moving closer to potential accelerated approval [10][18] Market Data and Key Metrics Changes - The company is focusing on the oncology market, particularly hematological malignancies and autoimmune diseases, with significant advancements in their pipeline [8][12] - The competitive landscape in non-Hodgkin lymphoma is acknowledged as crowded, but the company believes in the efficacy of its therapies based on preclinical data [53] Company Strategy and Development Direction - The strategic focus for 2025 includes three key growth pillars: NK cell engagers, antibody drug conjugates, and late-stage assets [12][15][18] - The company aims to deliver breakthrough therapies to patients in need and is excited about the opportunities in the coming years [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential of IPH65, IPH45, and lacutamab to address unmet needs in oncology and autoimmune diseases [8][12] - The company is actively preparing regulatory packages for FDA and EMA to proceed with Phase 3 trials for lacutamab [40] Other Important Information - The company is advancing a robust pipeline with eight innovative assets currently in the clinic, demonstrating the productivity of its R&D organization [21] - The company has received various regulatory designations for lacutamab, including orphan drug designation for CTCL in the US [40] Q&A Session Summary Question: Expectations for IPH6501 in NHL - Management acknowledged the crowded space but expressed confidence in IPH6501's efficacy based on preclinical data and a benign safety profile [53][54] Question: Update on IPH6401's focus shift - Management confirmed that IPH6401 is being refocused from multiple myeloma to autoimmune diseases, viewing this as a positive signal [60][61] Question: Status of partnering discussions for lacutamab - Management indicated that several parallel discussions with potential partners are progressing well [64] Question: Confirmatory trial strategies for lacutamab - Management is working to align with FDA and EMA on a global randomized control study, with primary endpoints likely to be PFS [74][76] Question: Decision on moving forward with lacutamab - Management clarified that accelerated approval can only be obtained once the Phase 3 trial is underway, and they are actively working on this [80][83] Question: Cash burn expectations - Management stated that cash burn estimates do not include potential proceeds from partnerships, focusing only on controllable cash inflows [85] Question: Working capital variation and trade receivables - Management explained that a significant decrease in trade receivables was due to the repayment of research tax credits, amounting to nearly EUR 40 million [88][89]
Innate Pharma(IPHA) - 2024 Q4 - Earnings Call Presentation
2025-03-27 16:05
Full Year 2024 Business Update and Financial Results 27 March 2024 Disclaimer on Forward-Looking Information and Risk Factors This document has been prepared by Innate Pharma S.A. (the "Company") solely for the purposes of a presentation to investors concerning the Company. This document is not to be reproduced by any person, nor to be distributed. This document contains forward-looking statements. The use of certain words, including "believe," "potential," "expect" and "will" and similar expressions, is in ...
Innate Pharma: Moving Into The Padcev Space
Seeking Alpha· 2025-03-21 13:10
Core Insights - The article emphasizes the importance of understanding the science behind biotech investments to avoid pitfalls in the industry [1] Group 1 - The author has a PhD in biochemistry and extensive experience analyzing clinical trials and biotech companies [1] - The mission is to educate investors on the scientific aspects of biotech businesses [1]
Innate Pharma: Looking Like A Company We'll Regret Ignoring
Seeking Alpha· 2024-11-25 16:54
Group 1 - The author has a PhD in biochemistry and extensive experience analyzing clinical trials and biotech companies, emphasizing the importance of understanding the science behind investments in this sector [1] - The mission is to educate investors on conducting due diligence to avoid pitfalls in biotech investments [1] Group 2 - There is a potential for initiating a short position in IPHA through short-selling or purchasing put options within the next 72 hours [2] - The article expresses personal opinions and does not involve compensation from any mentioned companies [2]
Innate Pharma(IPHA) - 2024 Q3 - Earnings Call Transcript
2024-11-13 18:09
Financial Data and Key Metrics Changes - The company reported a cash position of approximately €96.4 million as of the end of September, which is expected to fund operations through the end of 2025 [45] Business Line Data and Key Metrics Changes - The lead proprietary asset, lacutamab, is in development for T cell lymphoma, with Phase 2 data already presented [9] - The ANKET platform continues to progress, with the lead proprietary ANKET IPH65 now in Phase 1 trials [11] - The ADC targeting Nectin-4, IPH4502, has received IND clearance and is set to start Phase 1 trials by Q1 next year [12] Market Data and Key Metrics Changes - The company anticipates a series of potential clinical data readouts and catalysts in the short to mid-term, leveraging its R&D engine [15] Company Strategy and Development Direction - The company aims to develop first and best-in-class antibody-based therapies for cancer, focusing on proprietary R&D efforts and partnerships [8] - The strategy includes advancing proprietary assets along the clinical development pathway to transform cancer care [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of lacutamab, especially following positive FDA feedback regarding its regulatory pathway [49] - The company is actively seeking partnerships to support the confirmatory Phase 3 trial for lacutamab [55] Other Important Information - The company has eight clinical assets in total, with three proprietary and four partnered [45] - Monalizumab, partnered with AstraZeneca, is advancing well in Phase 3 trials for lung cancer [13] Q&A Session Summary Question: Can you provide some color on lacutamab data to be presented at ASH? - Management indicated that they cannot provide details due to embargoes but confirmed that the FDA has given encouraging feedback regarding the regulatory pathway for lacutamab [48][49] Question: What is the timing for the next steps regarding the FDA alignment for the Phase 3 confirmatory trial? - Management stated that timing will depend on the business case and potential partnerships, with discussions ongoing [50][51] Question: Is finding a partner necessary for the confirmatory study? - Management confirmed that finding a partner is important for the confirmatory study, but they are also exploring other options [53][55] Question: Do you have an internal deadline for finding a partner? - Management indicated that discussions are ongoing and they expect to make progress in the coming months [60][63] Question: What are the options to extend the cash runway? - Management is monitoring financing needs and exploring both dilutive and non-dilutive options [64] Question: Can you provide guidance on the timing for updates from the IPH6501 program? - Management expects to complete dose escalation by 2025, with initial safety and efficacy data anticipated [78]
Innate Pharma(IPHA) - 2024 Q3 - Earnings Call Presentation
2024-11-13 13:50
| --- | --- | --- | |-----------------------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | Q3 2024 Business Update and | | | | Financial Results | | | | 13 November 2024 | | | | | | | Disclaimer on Forward-Looking Information and Risk Factors 2 This document has been prepared by Innate Pharma S.A. (the "Company") solely for the purposes of a presentation to investors concerning the Company. This document is not to be reproduced by any person, nor to be distributed. This document c ...
Innate Pharma(IPHA) - 2024 Q2 - Earnings Call Transcript
2024-09-12 15:19
Financial Data and Key Metrics Changes - Revenue and other income for the first half of 2024 amounted to $12.3 million, primarily from collaboration and licensing agreements, and governmental funding for research of $4.1 million [22] - Operating expenses reached $38.7 million, with 75% related to R&D, which decreased by 5% to $29.1 million due to lower personnel and other R&D expenses [23] - Cash and cash equivalents totaled $102.1 million as of June 30, 2024, sufficient to fund operations until the end of 2025 [23] Business Line Data and Key Metrics Changes - The lead proprietary asset, lacutamab, is in development for T cell lymphoma, with topline data expected to be presented at ASH in December [4] - The ANKET platform continues to progress, with the lead candidate SAR443579 transitioning from Phase 1 to Phase 2, and IPH6501 continuing in Phase 1 [5] - The ADC asset IPH45 is progressing through Phase 1, targeting Nectin-4 [5][18] Market Data and Key Metrics Changes - The TELLOMAK trial for lacutamab in Cutaneous T Cell Lymphoma showed a global objective response rate of 16.8% and a median progression-free survival of 10.2 months [10] - The potential patient population for lacutamab in CTCL could expand from 1,500 to 5,000 with a proposed registration strategy for fast-to-market approval [11][12] Company Strategy and Development Direction - The company aims to create near-term value through lacutamab and longer-term value by leveraging antibody engineering capabilities [4] - The strategy includes building partnerships across the industry, as seen with monalizumab partnered with AstraZeneca [6] - The company is focused on developing innovative drug candidates with a strong pipeline of differentiated antibodies [4] Management's Comments on Operating Environment and Future Outlook - Management is engaged with the FDA on a proposed registration strategy for lacutamab, which could benefit from expedited approval programs [28] - The company is optimistic about the potential of its pipeline, with several first-in-class opportunities and a strong cash position to fund operations [24] Other Important Information - The company is celebrating its 25th anniversary and will host an investor meeting in New York on October 3 [25] - The termination of the partnership with Takeda was due to a strategic review on their side, with no significant data generated that would inform the ADC program [30] Q&A Session Summary Question: Insights on NeoCOAST-2 data and monalizumab's potential role - The NeoCOAST data shows encouraging efficacy for monalizumab, but further data is awaited as the trial is ongoing [26][28] Question: CEO appointment timeline and strategic decision-making - The process for appointing a permanent CEO is ongoing, and strategic decisions will be made by the Board with the CEO in place [31][44] Question: Details on PACIFIC 9 interim analysis - No additional details can be provided regarding the interim analysis; the trial is continuing based on the IDMC's recommendation [33] Question: Timing for regulatory interactions with lacutamab - Regulatory interactions for lacutamab are expected in the fourth quarter of this year [34][35] Question: Progress in PTCL indication for lacutamab - The KILT Phase 2 trial for lacutamab in PTCL is ongoing and expected to report data late next year [43]
Innate Pharma(IPHA) - 2024 Q2 - Quarterly Report
2024-09-12 10:07
Financial Performance - The company reported a net loss of €24.8 million for the first half of 2024, compared to a net income of €1.7 million for the same period in 2023[10]. - Revenue and other income decreased by €27.9 million to €12.3 million for the six months ended June 30, 2024, down from €40.2 million in the same period of 2023[12]. - Revenue from collaboration and licensing agreements was €8.3 million, a significant decrease from €35.3 million in the first half of 2023[13]. - The company expects to incur additional losses until it can generate significant revenues from its drug candidates in development[7]. - Basic loss per share for the six months ended June 30, 2024, was €(0.31), compared to a basic income per share of €0.02 for the same period in 2023[141]. Revenue Breakdown - Revenue from collaboration and licensing agreements decreased by €27.1 million, to €8.3 million for the six months ended June 30, 2024, compared to €35.3 million for the same period in 2023, representing a decline of approximately 76.7%[14]. - Revenue related to monalizumab decreased by €6.5 million, to €3.0 million for the six months ended June 30, 2024, compared to €9.5 million for the same period in 2023, a decrease of about 68.4%[17]. - Revenue from the Sanofi licensing agreement (2016) increased by €2.0 million, reaching €4.0 million for the six months ended June 30, 2024, compared to €2.0 million for the same period in 2023, marking a 100% increase[18]. - Revenues under the Takeda licensing agreement were nil for the first half of 2024, compared to €4.6 million for the first half of 2023, indicating a complete recognition of the initial payment in the previous year[23]. Research and Development Expenses - Operating expenses totaled €38.7 million, a decrease from €40.6 million in the first half of 2023, with 75.2% attributed to research and development[10]. - Research and development expenses were €29.1 million, down from €31.5 million in the first half of 2023, reflecting a 7.6% decrease[10]. - Personnel and other expenses allocated to R&D decreased by €2.2 million, or 15.4%, to €12.0 million for the six months ended June 30, 2024, compared to €14.2 million for the same period in 2023[36]. - Direct R&D expenses decreased by €0.2 million, or 1.1%, to €17.1 million for the six months ended June 30, 2024, primarily due to a €2.5 million increase in preclinical program expenses offset by a €2.7 million decrease in clinical program expenses[33]. Cash and Financial Position - Cash, cash equivalents, and financial assets amounted to €102.1 million as of June 30, 2024, slightly down from €102.3 million at the end of 2023[10]. - Financial liabilities were €35.5 million, including €26.6 million of non-current liabilities, compared to €39.9 million at the end of 2023[10]. - Total current assets decreased to €111.6 million as of June 30, 2024, down from €148.0 million at the end of 2023[57]. - Cash and cash equivalents amounted to €70.0 million as of June 30, 2024, a decrease of €0.6 million compared to December 31, 2023[46]. Employee and Operational Metrics - The company had 168 full-time equivalent employees as of June 30, 2024, down from 180 in the previous year[8]. - The company reported a total of 1,403,500 performance employees for the year 2023, with 66,250 being new members[105]. - The company plans to add 25,000 new members in 2024[105]. Deferred Revenue and Liabilities - Deferred revenue amounted to €6.9 million as of June 30, 2024, including €4.1 million booked as 'Deferred revenue – non-current portion'[45]. - The deferred revenue related to monalizumab as of June 30, 2024, is €2.0 million, classified entirely as "Deferred revenue—Current portion"[18]. - The total change in collaboration liabilities related to the monalizumab agreement decreased from €63,211 thousand as of December 31, 2022, to €56,058 thousand as of June 30, 2023[114]. Legal and Compliance - The Company has no acknowledged litigation as of June 30, 2024, indicating no significant legal risks at this time[132]. - The interim condensed consolidated financial statements were prepared in accordance with IAS 34 and IFRS standards[70].
Innate Pharma(IPHA) - 2024 Q1 - Earnings Call Transcript
2024-05-14 15:03
Financial Data and Key Metrics Changes - The company reported a strong cash position with approximately EUR 115 million as of the end of March 2024, providing operational runway until the end of 2025 [63] Business Line Data and Key Metrics Changes - Lacutamab is being developed for cutaneous T cell lymphoma, with a focus on Sezary syndrome and mycosis fungoides, where KIR3DL2 is expressed in over 90% and approximately 50% of patients respectively [8] - The ANKET platform is advancing with IPH6501 entering Phase 1 trials, targeting CD20 in B-cell non-Hodgkin's lymphoma [9][51] - The ADC program IPH45 targeting Nectin-4 has shown strong anti-tumor efficacy in preclinical models, with plans to file an IND this year [28][56] Market Data and Key Metrics Changes - The company is pursuing a fast-to-market strategy for lacutamab in Sezary syndrome, having received U.S. fast track designation and EU PRIME designation [19] - The upcoming ASCO conference is expected to be significant for the company, with presentations on lacutamab and IPH6501 [32][50] Company Strategy and Development Direction - The company aims to develop innovative drug candidates that transform cancer care, focusing on a robust pipeline of differentiated antibody and antibody-derived drug candidates [46] - Partnerships with AstraZeneca and Sanofi are crucial for advancing the development of their proprietary products and expanding their pipeline [6][47] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the upcoming data presentations at ASCO, which will inform regulatory discussions and potential market strategies [32][84] - The company is committed to addressing unmet medical needs in oncology, particularly in the crowded PTCL space, while leveraging its strong safety profile [77][90] Other Important Information - The company is actively exploring the potential of the ANKET platform beyond oncology, considering applications in autoimmune diseases [67] - The collaboration with Sanofi is prioritized within their oncology pipeline, with ongoing development of two ANKET molecules [72] Q&A Session Summary Question: What is the intent regarding biomarker thresholds in the TELLOMAK study? - The company is prospectively screening patients for KIR3DL2 expression levels and has created cohorts based on these levels to define potential biomarker thresholds [37] Question: What is the regulatory path forward for lacutamab after ASCO? - The aim is to ensure lacutamab reaches patients quickly, with plans to file with the FDA without additional registrational studies [41][42] Question: What updates can be expected from the collaboration with Sanofi? - The collaboration is active, with two ANKET molecules in development, and updates are anticipated this year [72] Question: Can you elaborate on the fast-to-market strategy for lacutamab? - The strategy includes the possibility of accelerated approval based on the ongoing registrational trial and the need for a 12-month durability of response [90] Question: What are the expectations for the PTCL data readout next year? - The PTCL space is crowded but presents unmet medical needs, and lacutamab's safety profile is a significant advantage [77]