PresentationJonathan DickinsonCEO & Director So good morning to everybody here in New York, and good morning to our participants online, and good afternoon to everybody in Europe. We're very excited to be here this morning. We have, from Innate Pharma perspective, our Lacutamab KOL Event, where we'll be reviewing the clinical perspectives and the commercial outlook for lacutamab. I'm very excited that we have over 100 people joining us this morning online and here in the room in New York City. So we will b ...

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Lacutamab KOL Event Clinical perspectives and Commercial outlook New-York, October 28th, 2025 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 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 expr ...

Innate Pharma (NasdaqGS:IPHA) Update / Briefing October 28, 2025 08:00 AM ET Speaker0We're very excited to be here this morning. We have, from an eight pharma perspective, our lacutamab KOL event, where we will be reviewing the clinical perspectives and the commercial outlook for lacutamab. I'm very excited that we have over 100 people joining us this morning online and here in the room in New York City. So we will be making some forward looking statements.So we have our standard disclosure statement here. ...

Core Insights - Innate Pharma SA is hosting an analyst and investor event focused on lacutamab, which has a potential path to Accelerated Approval based on long-term follow-up data from the Phase 2 TELLOMAK study [1] Company Overview - The event will provide clinical perspectives and market outlook for lacutamab, indicating the company's commitment to transparency and engagement with investors [1] Event Details - The event is scheduled for Tuesday, October 28, 2025, and will be held both in person and virtually, starting at 8:00 a.m. [1]

Core Insights - The company is focused on the development of transcript-related projects, indicating a commitment to enhancing their offerings in this area [1] - The publication of thousands of quarterly earnings calls per quarter suggests a significant volume of content being generated and shared with readers [1] - The ongoing growth and expansion of coverage highlight the company's strategic direction towards increasing its market presence and service offerings in transcript-related services [1]

Financial Data and Key Metrics Changes - For the first half of 2025, the company reported total revenue of $4.9 million, primarily driven by collaborations with AstraZeneca and Sanofi, as well as governmental funding for research expenditures [29] - Operating expenses reached $30.3 million, with R&D expenses at $20.5 million, reflecting a 29% decrease compared to the prior year, while G&A expenses remained stable at $9.8 million [29] - As of June 30, 2025, the company had $70.4 million in cash, cash equivalents, and financial assets, providing a cash runway until the end of the third quarter of 2026 [29] Business Line Data and Key Metrics Changes - The company is focusing investments on three high-value clinical assets: IPH4502, Lacutamab, and Monalizumab, which are expected to create meaningful value and transform care [5][31] - IPH4502 is currently in phase one development, with enrollment progressing well and expected to complete by the end of Q1 2026 [12][15] - Lacutamab is close to finalizing the phase three protocol, with potential for accelerated approval in Sézary syndrome [16][21] Market Data and Key Metrics Changes - The company identified approximately 1,000 Sézary syndrome patients in the U.S., with around 300 new cases each year, representing a significant market opportunity for Lacutamab [24] - The total agreement for Monalizumab with AstraZeneca is worth up to $1.275 billion, with $450 million already received in upfront and milestone payments [28] Company Strategy and Development Direction - The company has made a strategic decision to streamline its organization and focus on high-value clinical assets, aligning its strategy, science, and investments [5][31] - The company is exploring partnerships and investor support to advance Lacutamab towards phase three, with a focus on maximizing value for both patients and shareholders [21][39] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic refocus and the potential of the clinical pipeline to deliver value for patients and shareholders [31] - The restructuring plan is fully embedded into the cash runway, ensuring financial visibility until the end of Q3 2026 [55] Other Important Information - The Chief Scientific Officer, Eric Vivier, will transition to a role as an advisor to the R&D Committee of the Board of Directors, ensuring continued collaboration [6] - The company is actively collecting additional market data for Lacutamab and plans to share insights at a focused investor event by the end of the year [26] Q&A Session Questions and Answers Question: What should we take away on the potential of targeting NK cells now that ANKET® assets are not included in your prioritization today? - Management clarified that while NK cells are not the main priority, they are still working on NK cell programs and will base future decisions on clinical data [33][35] Question: Any commentary on where Sanofi is with the assets that they currently are developing? - Management indicated that Sanofi continues to progress the BCMA-targeted ANKET® and updates are expected soon [38] Question: Regarding the phase three start for Lacutamab, should we still assume that unless you have a partner signed up ahead of the start of the study, it'll still be a wait and watch? - Management confirmed they are actively working with investors and partners to keep options open for advancing Lacutamab into phase three [39][40] Question: Based on the preclinical data that you have generated so far, what potential indications do you think IPH4502 will be effective? - Management highlighted that IPH4502 could be effective in urothelial cancer patients who became refractory to enfortumab vedotin, with potential for accelerated market approval [41][42] Question: Can you provide an update on how enrollment has been progressing for IPH4502? - Management reported that enrollment is going extremely well, with plans to finish by Q1 2026 and a pool of data expected from 50-60 patients [46][48]

Financial Data and Key Metrics Changes - For the first half of 2025, the company reported total revenue of $4.9 million, primarily driven by collaborations with AstraZeneca and Sanofi, as well as governmental funding for research expenditures [28] - Operating expenses reached $30.3 million, with R&D expenses at $20.5 million, reflecting a 29% decrease compared to the prior year, while G&A expenses remained stable at $9.8 million [28] - As of June 30, 2025, the company had $70.4 million in cash, cash equivalents, and financial assets, providing a cash runway until the end of the third quarter of 2026 [28] Business Line Data and Key Metrics Changes - The company is focusing investments on three high-value clinical assets: IPH4502, Lacutamab, and Monalizumab, which are expected to create meaningful value [4][30] - IPH4502 is currently in phase one development, with enrollment progressing well and expected to complete by the end of Q1 2026 [11][14] - Lacutamab is close to completing the phase three protocol, with potential accelerated approval in Sézary syndrome anticipated by 2027 [21][25] Market Data and Key Metrics Changes - The company identified approximately 1,000 Sézary syndrome patients in the U.S., with around 300 new cases each year, representing a significant market opportunity for Lacutamab [24][25] - The total agreement with AstraZeneca for Monalizumab is worth up to $1.275 billion, with $450 million already received in upfront and milestone payments [27] Company Strategy and Development Direction - The company has made a strategic decision to streamline its organization and focus on high-value clinical assets to drive forward programs that can make a significant difference [4][30] - The company is actively working with investors and partners to secure funding for the phase three trial of Lacutamab, while also exploring options for IPH4502 [38][39] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic refocus and the potential of the clinical pipeline to deliver value for patients and shareholders [30] - The restructuring plan is fully embedded into the cash runway, ensuring financial visibility through the end of Q3 2026 [54] Other Important Information - The Chief Scientific Officer, Eric Vivier, will transition to a role as an advisor to the R&D Committee of the Board of Directors, ensuring continued collaboration [5] - The company is exploring the potential of IPH4502 in urothelial cancer patients who have become refractory to enfortumab vedotin, with a focus on addressing high unmet medical needs [41] Q&A Session Summary Question: What should we take away on the potential of targeting NK cells now that ANKET® assets are not included in your prioritization today? - Management clarified that while NK cells are not the main priority, they are still working on NK cell engagers and will base future decisions on clinical data [32][33] Question: Any commentary on where Sanofi is with the assets that they currently are developing? - Management indicated that Sanofi continues to progress the BCMA-targeted ANKET® and updates are expected soon [37] Question: Regarding the phase three start for Lacutamab, should we still assume that unless you have a partner signed up ahead of the start of the study, it'll still be a wait and watch? - Management confirmed they are actively working with investors and partners to keep options open for moving forward with Lacutamab [38] Question: Based on the preclinical data that you have generated so far, what potential indications do you think IPH4502 will be effective? - Management highlighted a focus on urothelial cancer patients who are refractory to enfortumab vedotin, with potential for accelerated market approval [41] Question: Can you provide an initial estimate of the investment requirements if you decide to go to trial without a partner? - Management stated they would not normally communicate specific costs but indicated it would be similar to other oncology phase 3 trials [56]

Financial Data and Key Metrics Changes - For the first half of 2025, the company reported total revenue of EUR 4.9 million, primarily driven by collaborations with AstraZeneca and Sanofi, as well as governmental funding for research expenditures [29] - Operating expenses reached EUR 30.3 million, with EUR 20.5 million in R&D and EUR 9.8 million in G&A expenses; R&D expenses decreased by 29% compared to the prior year [29] - As of June 30, 2025, the company had EUR 70.4 million in cash, cash equivalents, and financial assets, providing a cash runway until the end of the third quarter of 2026 [29] Business Line Data and Key Metrics Changes - The company is focusing investments on three high-value clinical assets: IPH4502, lacutamab, and monalizumab, which are expected to create meaningful value [5][31] - IPH4502 is currently in phase one development, with enrollment on track to complete by the end of Q1 2026 [12] - Lacutamab has secured FDA breakthrough therapy designation and is preparing for phase III protocol submission [22][31] Market Data and Key Metrics Changes - The company identified approximately 1,000 Sézary syndrome patients in the U.S., with around 300 new cases each year, representing a significant market opportunity for lacutamab [25] - There are approximately 20,000 CTCL patients in the U.S., with an incidence of about 5,000 patients, suggesting a larger population than previously estimated [26] Company Strategy and Development Direction - The company has made a strategic decision to streamline its organization and focus on high-value clinical assets to drive forward programs that can make a significant difference [5][31] - The partnership with AstraZeneca for monalizumab is a significant value driver, with a total agreement worth up to $1.275 billion [28] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the strategic refocus and the potential of the clinical pipeline to deliver value for patients and shareholders [31] - The restructuring plan is fully embedded into the cash runway, ensuring financial visibility until the end of Q3 2026 [54] Other Important Information - The Chief Scientific Officer responsibilities have been assumed by the COO following the departure of the CSO, who will continue to support the company as an advisor [6][7] Q&A Session Summary Question: What should we take away on the potential of targeting NK cells now that ANKET assets are not included in your prioritization today? - Management clarified that while NK cells are not the main priority, they are still working on NK cell programs and will base future decisions on clinical data [34][35] Question: Any commentary on where Sanofi is with the assets that they currently are developing? - Management indicated that Sanofi continues to progress the BCMA-targeted ANKET and expects updates in the near future [37] Question: Regarding the phase III start for lacutamab, should we still assume that unless you have a partner signed up ahead of the start of the study, it'll still be a wait and watch? - Management is actively working with investors and partners to keep options open for moving forward with lacutamab [38][39] Question: Based on the preclinical data that you have generated so far, what potential indications do you think IPH4502 will be effective? - Management highlighted a focus on urothelial cancer patients who became refractory or resistant to PADCEV, with potential for accelerated market approval [40][41] Question: Can you provide an initial estimate of the investment requirements if you decide to go to trial without a partner? - Management refrained from providing specific cost estimates but indicated that it would be similar to standard oncology phase III trials [56]