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Innate Pharma(IPHA) - 2022 Q4 - Annual Report
2023-04-06 10:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 Date of report: For the month of April 2023 Commission File Number: 001-39084 Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F [ X ] Form 40-F [ ] Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Re ...
Innate Pharma(IPHA) - 2022 Q4 - Earnings Call Presentation
2023-03-27 18:13
Europe Demonstrates better anti-tumor efficacy than approved benchmark antibodies in preclinical tumor models. | --- | --- | --- | --- | --- | --- | --- | --- | |------------------|----------------------|--------|-----------------------------------|----------------|-------|-----------------------|----------------| | | | | | | | | | | | IPH6101/SAR'579 | | IPH6401/SAR'514 | IPH62 | | OPTION | | | Ongoing programs | CD123 Phase 1 in AML | | Progression towards IND | B7-H3 Research | | 2 undisclosed targets | ...
Innate Pharma(IPHA) - 2022 Q4 - Earnings Call Transcript
2023-03-23 19:13
Financial Data and Key Metrics Changes - The revenue and other income amounted to €57.7 million, primarily from collaboration and licensing agreements and governmental funding [70] - Operating expenses were €74.1 million, a 1% increase compared to 2021, while R&D expenses rose by 10% to €51.7 million due to clinical and nonclinical research [71] - Cash and cash equivalents stood at €136.6 million as of December 31, 2022, with an additional €25 million payment from Sanofi expected to be added [51][52] Business Line Data and Key Metrics Changes - The company is focusing on its lead product candidate, lacutamab, which is in development for T cell lymphoma, with final readouts expected in the second half of 2023 [9][21] - The ANKET platform continues to progress, with Sanofi signing a second deal, and multiple programs in early development [11][39] - Monalizumab is advancing in Phase 3 trials for lung cancer, with AstraZeneca leading the efforts [12][25] Market Data and Key Metrics Changes - The company is expanding its presence in the NK cell space, leveraging its antibody engineering capabilities to develop innovative molecules [18][36] - The partnership with AstraZeneca for monalizumab is expected to yield significant milestones, with a total package of up to $1.275 billion [34] Company Strategy and Development Direction - The company aims to create near-term value through its proprietary product candidate lacutamab and to build a sustainable foundation through various partnerships [8][19] - The focus remains on maximizing the value of its products while advancing its R&D engine to create a sustainable business [10][54] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the progress in clinical trials and partnerships, highlighting the importance of upcoming data readouts over the next 24 months [44][93] - The company is strategically managing resources to ensure continued investment in its vision and pipeline [40][55] Other Important Information - The company has received Fast Track designation for lacutamab in the U.S. and PRIME designation in the EU, indicating regulatory support for its development [29] - The company is exploring ADC technology alongside its ANKET platform, indicating a diversified approach to drug development [63] Q&A Session Summary Question: Can you elaborate on the registrational pathway for mycosis fungoides? - Management indicated that they are keeping options open for a complete registration trial on mycosis fungoides or a combination with Sézary syndrome, ensuring alignment with regulators [58][60] Question: Where does the linker payload technology for the ADC program come from? - The company confirmed that they have selected a development candidate for the ADC program IPH4501 and will provide updates later in the year [61] Question: What changes have occurred in the guidance for outcomes in CTCL? - Management noted that there have been clarifications in the guidance, and they will provide more details in upcoming calls [64][79] Question: Can you provide more details on the inclusion and exclusion criteria for the COMBO study? - The monotherapy trial is focused on KIR3DL2 positive patients with no maximum lines of therapy, while the COMBO study includes a comparator arm with chemotherapy [82][96] Question: How should we think about costs in 2023? - Management indicated that the cash burn for 2023 will be in the same range or slightly lower than previous years, allowing for funding of new studies without increasing costs [101]
Innate Pharma(IPHA) - 2023 Q1 - Quarterly Report
2023-03-23 10:00
[2022 Annual Report Overview](index=1&type=section&id=Innate%20Pharma%20Reports%20Full%20Year%202022%281%29%20Financial%20Results%20and%20Business%20Update) Innate Pharma advanced its clinical pipeline and maintained a strong financial position in 2022, marked by key partnerships and milestone payments [2022 Business and Financial Highlights](index=1&type=section&id=2022%20Business%20and%20Financial%20Highlights) In 2022, Innate Pharma advanced its clinical and preclinical pipeline, notably expanding its ANKET® platform partnership with Sanofi, which included a €25 million payment. The company reported encouraging efficacy data for lacutamab and received a $50 million milestone payment from AstraZeneca for monalizumab. The company maintained a solid financial position with a cash runway anticipated into mid-2025 - Expanded partnership with Sanofi for NK cell engager therapeutics, including the B7-H3 ANKET® program, resulting in a **€25 million payment**[3](index=3&type=chunk)[5](index=5&type=chunk) - Reported encouraging preliminary Phase 2 efficacy data for lacutamab in advanced cutaneous T cell lymphoma (Sézary syndrome and mycosis fungoides)[3](index=3&type=chunk)[5](index=5&type=chunk) - Received a **$50 million milestone payment** from AstraZeneca after the first patient was dosed in the monalizumab PACIFIC-9 Phase 3 lung cancer trial[5](index=5&type=chunk)[3](index=3&type=chunk) - Cash position was **€136.6 million** as of December 31, 2022, with an anticipated cash runway into mid-2025. This figure does not include the **€25 million payment** from Sanofi received post-period[5](index=5&type=chunk) [Pipeline Update](index=2&type=section&id=Pipeline%20highlights%3A) Innate Pharma's pipeline progressed with key clinical trials for lacutamab and ANKET® programs, alongside strategic advancements in partnered assets [Lacutamab (IPH4102)](index=2&type=section&id=Lacutamab%20%28IPH4102%2C%20anti-KIR3DL2%20antibody%29%3A) Lacutamab showed promising clinical activity and a favorable safety profile in advanced cutaneous T-cell lymphomas (CTCL). Final data from the TELLOMAK Phase 2 trial for mycosis fungoides (MF) and Sézary syndrome are expected in H2 2023. Additionally, two trials are ongoing for peripheral T-cell lymphoma (PTCL), with initial data also expected in H2 2023 - In the TELLOMAK Phase 2 trial, preliminary data for mycosis fungoides (MF) patients showed a global objective response rate (ORR) of **28.6%**[8](index=8&type=chunk) - For heavily pretreated Sézary syndrome patients, lacutamab demonstrated a global ORR of **21.6%** in the ITT population, with a **37.8% ORR** in blood and **35.1% ORR** in skin[8](index=8&type=chunk) - Two trials are ongoing for relapsed/refractory peripheral T-cell lymphoma (PTCL), a Phase 1b monotherapy trial and the Phase 2 KILT combination trial, with initial data for both expected in H2 2023[8](index=8&type=chunk) [ANKET® Platform](index=2&type=section&id=ANKET%C2%AE%20%28Antibody-based%20NK%20cell%20Engager%20Therapeutics%29%3A) The proprietary ANKET® platform is advancing with four public candidates. The partnership with Sanofi was expanded to include the B7-H3 targeted program (IPH62) and two additional targets, triggering a **€25 million** upfront payment. Sanofi is also progressing IPH6101 and IPH6401. Innate's proprietary tetra-specific ANKET®, IPH6501, is progressing towards a Phase 1 trial in 2023 - Sanofi licensed IPH62 (B7-H3 targeted) and has options for two more targets. Innate received a **€25 million upfront payment** and is eligible for up to **€1.35 billion** in milestones plus royalties[12](index=12&type=chunk) - Sanofi's decision to advance IPH6401 (BCMA-targeting) into IND-enabling studies triggered a **€3 million milestone payment** to Innate[12](index=12&type=chunk) - The proprietary CD20-targeted tetra-specific ANKET®, IPH6501, is on track for a Phase 1 clinical trial in 2023[10](index=10&type=chunk) [Monalizumab (Partnered with AstraZeneca)](index=3&type=section&id=Monalizumab%20%28anti-NKG2A%20antibody%29%2C%20partnered%20with%20AstraZeneca%3A) Monalizumab's development is focused on non-small cell lung cancer (NSCLC). The PACIFIC-9 Phase 3 trial in Stage III NSCLC is ongoing, triggering a **$50 million** milestone payment from AstraZeneca. However, the INTERLINK-1 Phase 3 study in head and neck cancer was discontinued due to futility - A **$50 million milestone payment** was received from AstraZeneca for dosing the first patient in the PACIFIC-9 Phase 3 trial for unresectable, Stage III NSCLC[13](index=13&type=chunk) - The Phase 3 INTERLINK-1 study in head and neck cancer was discontinued after a planned futility analysis did not meet the pre-defined efficacy threshold[13](index=13&type=chunk) - Phase 2 COAST trial results showed monalizumab with durvalumab reduced the risk of disease progression by **58%** (HR of **0.42**) compared to durvalumab alone in Stage III NSCLC[13](index=13&type=chunk) [Other Pipeline Assets](index=4&type=section&id=Other%20Pipeline%20Assets) The company is advancing other assets through partnerships and internal development. The MATISSE Phase 2 trial for IPH5201 (anti-CD39) in lung cancer has started, triggering a **$5 million** milestone from AstraZeneca. The Phase 1 trial for proprietary IPH5301 (anti-CD73) is ongoing. Conversely, development of avdoralimab (anti-C5aR1) in bullous pemphigoid has been discontinued - **IPH5201 (anti-CD39):** The MATISSE Phase 2 trial in neoadjuvant lung cancer has started, triggering a **$5 million milestone payment** from partner AstraZeneca[14](index=14&type=chunk)[17](index=17&type=chunk) - **IPH5301 (anti-CD73):** The investigator-sponsored CHANCES Phase 1 trial is ongoing, evaluating IPH5301 in combination therapy for HER2+ cancer patients[15](index=15&type=chunk) - **Avdoralimab (anti-C5aR1):** The company has discontinued the development of avdoralimab in bullous pemphigoid and will evaluate out-licensing options[16](index=16&type=chunk) [Corporate and Preclinical Update](index=5&type=section&id=Corporate%20Update%3A) Innate Pharma focused on advancing its ANKET® platform and ADCs, regained rights to preclinical programs, and made key corporate appointments in 2022 [Preclinical and Corporate Developments](index=5&type=section&id=Preclinical%20and%20Corporate%20Developments) Innate is focused on developing novel cancer treatments through its ANKET® platform and exploring Antibody Drug Conjugates (ADCs). The company regained full rights to four preclinical programs after AstraZeneca declined its option. Corporate actions in 2022 included establishing a **$75 million** At-The-Market (ATM) program, which remains unused, and making key appointments to the Supervisory Board and Leadership Team - Innate regained full rights to four preclinical molecules after AstraZeneca did not exercise its option under the "Future Programs Option Agreement"[19](index=19&type=chunk) - An At-The-Market (ATM) program was established to potentially offer and sell up to **$75 million** in American Depositary Shares (ADS), with the full amount remaining available as of year-end 2022[19](index=19&type=chunk) - Key leadership changes included the appointment of Dr. Sally Bennett to the Supervisory Board and two new members to the Leadership Team in January 2023[19](index=19&type=chunk) [Financial Performance](index=6&type=section&id=Financial%20highlights%20for%202022%3A) In 2022, Innate Pharma saw significant revenue growth from collaborations but reported an increased net loss due to a substantial non-cash impairment charge [Financial Summary](index=6&type=section&id=Financial%20Summary) For the year ended December 31, 2022, Innate Pharma's revenue more than doubled to **€57.7 million**, driven by collaboration agreements. However, the company recorded a net loss of **€58.1 million**, an increase from 2021, primarily due to a significant non-cash impairment charge of **€41.0 million** related to the discontinuation of the avdoralimab program. The company ended the year with a cash position of **€136.6 million** Financial Metric (in thousands of euros) | Financial Metric (in thousands of euros) | Dec 31, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | **Income Statement** | | | | Revenue and other income | 57,674 | 24,703 | | Total operating expenses | (74,099) | (72,528) | | Impairment of intangible asset | (41,000) | — | | Operating income (loss) | (57,425) | (47,825) | | Net income (loss) | (58,103) | (52,809) | | Basic loss per share (€) | (0.73) | (0.66) | | **Balance Sheet** | | | | Cash, cash equivalents and financial assets | 136,604 | 159,714 | | Total assets | 207,863 | 267,496 | | Shareholders' equity | 54,151 | 107,440 | | Total financial debt | 42,251 | 44,251 | - A significant non-cash impairment charge of **€41.0 million** was recorded for the avdoralimab intangible asset, following the decision to halt its development[22](index=22&type=chunk)[49](index=49&type=chunk) - Cash position stood at **€136.6 million** at year-end. This does not include a **€25.0 million payment** from Sanofi received in March 2023[22](index=22&type=chunk)[57](index=57&type=chunk) [Revenue Analysis](index=13&type=section&id=Revenue%20and%20other%20income) Total revenue and other income increased significantly to **€57.7 million** in 2022 from **€24.7 million** in 2021, primarily driven by a more than fourfold increase in collaboration and licensing agreements, partially offset by decreased government funding for research Revenue Source (in thousands of euros) | Revenue Source (in thousands of euros) | Dec 31, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | Revenue from collaboration and licensing agreements | 49,580 | 12,112 | | Government financing for research expenditures | 8,035 | 12,591 | | **Total Revenue and other income** | **57,674** | **24,703** | - Collaboration revenue growth was driven by several key events: Monalizumab: **€14.9 million** increase due to a milestone from the PACIFIC-9 trial; IPH5201: **€4.7 million** recognized from a milestone payment; AstraZeneca Preclinical Programs: **€17.4 million** recognized after AstraZeneca declined its license option; Sanofi: **€3.0 million** milestone payment for advancing IPH6401/SAR'514[37](index=37&type=chunk) - Government funding for research decreased by **€4.6 million** (**36.2%**), mainly due to a reduction in the research tax credit from lower eligible expenses and a provision following a tax inspection[38](index=38&type=chunk) [Operating Expenses Analysis](index=14&type=section&id=Operating%20expenses) Operating expenses rose slightly by **2.2%** to **€74.1 million** in 2022, driven by increased R&D costs for preclinical programs, while G&A expenses decreased due to lower personnel and advisory fees Expense Category (in thousands of euros) | Expense Category (in thousands of euros) | Dec 31, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | Research and development expenses | (51,663) | (47,004) | | Selling, general and administrative expenses | (22,436) | (25,524) | | **Total Operating expenses** | **(74,099)** | **(72,528)** | - R&D expenses increased by **€4.7 million**, mainly due to a **€5.0 million** increase in preclinical development program costs (notably IPH6501), partially offset by a **€4.3 million** decrease in clinical program expenses[41](index=41&type=chunk)[42](index=42&type=chunk) - G&A expenses decreased by **€3.1 million**, primarily due to lower wages, reduced non-scientific advisory fees, and a decrease in legal and compliance support costs[45](index=45&type=chunk)[46](index=46&type=chunk)[47](index=47&type=chunk) [Balance Sheet and Cash Flow](index=17&type=section&id=Balance%20sheet%20and%20Cash-flow%20items) As of December 31, 2022, Innate Pharma held **€136.6 million** in cash, with net cash used in operations improving to **€19.2 million**, influenced by significant milestone receipts from partners - Total cash, cash equivalents, and financial assets stood at **€136.6 million**, down from **€159.7 million** in 2021[54](index=54&type=chunk) - Shareholders' equity decreased to **€54.2 million** from **€107.4 million**, largely due to the net loss of **€58.1 million** for the period[56](index=56&type=chunk) Cash Flow Activity (in thousands of euros) | Cash Flow Activity (in thousands of euros) | Dec 31, 2022 | Dec 31, 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | (19,154) | (58,457) | | Net cash from / (used in) investing activities | 1,877 | (917) | | Net cash from / (used in) financing activities | (1,828) | 26,818 | - A post-period event in March 2023 was the receipt of a **€25.0 million payment** from Sanofi related to the B7-H3 ANKET® program license agreement[57](index=57&type=chunk)
Innate Pharma(IPHA) - 2022 Q3 - Earnings Call Transcript
2022-11-14 19:40
Innate Pharma S.A. (NASDAQ:IPHA) Q3 2022 Earnings Conference Call November 14, 2022 8:00 AM ET Company Participants Henry Wheeler – Head-Investor Relations Mondher Mahjoubi – Chief Executive Officer Joyson Karakunnel – Executive Vice President and Chief Medical Officer Yannis Morel – Executive Vice President-Business Development and Product Portfolio Strategy Conference Call Participants Yigal Nochomovitz – Citigroup Daina Graybosch – SVB Securities Swayampakula Ramakanth – HCW Operator Hello, and thank you ...
Innate Pharma(IPHA) - 2022 Q3 - Earnings Call Presentation
2022-11-14 15:59
Q3 2022 Financial Results and Business Update November 14, 2022 PARIS: IPH.PA NASDAQ: IPHA © 2021 Innate Pharma. All rights reserved. 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 "believ ...
Innate Pharma S.A. (IPHA) First Half 2022 Financial Results and Business Update Transcript
2022-09-15 18:44
Summary of Innate Pharma S.A. First Half 2022 Financial Results and Business Update Company Overview - **Company**: Innate Pharma S.A. (NASDAQ: IPHA) - **Date of Call**: September 15, 2022 - **Participants**: CEO Mondher Mahjoubi, CFO Frédéric Lombard, and other executives Key Industry and Company Insights Strategic Priorities - **Three Key Priorities**: 1. **Near-term Value Creation**: Focus on lead asset lacutamab for T cell lymphoma with expected readouts in H2 2022 [6] 2. **Mid to Long-term Pipeline Development**: Emphasis on antibody engineering capabilities, particularly the ANKET platform [6] 3. **Sustainable Business Foundation**: Building partnerships across industry and academia, including ongoing collaborations with AstraZeneca [7] Pipeline Overview - **Lacutamab**: - First-in-class monoclonal antibody targeting KIR3DL2, with promising data from ongoing trials [10] - Fast Track designation in the U.S. and PRIME designation in the EU [11] - Enrollment on track for both Sézary syndrome and mycosis fungoides [11] - **Monalizumab**: - Licensed to AstraZeneca, currently in lung cancer trials [12] - Phase 3 trial PACIFIC9 initiated based on promising Phase 2 COAST data [13][14] - **Adenosine Pathway Assets**: - Progressing anti-CD39 (IPH5201) to Phase 2 in collaboration with AstraZeneca, with a $5 million milestone payment received [16] - Anti-CD73 (IPH5301) in an investigator-sponsored Phase 1 trial [16] Financial Highlights - **Cash Position**: €158.2 million as of June 30, 2022, providing a runway into H2 2024 [21][68] - **Revenue**: €45.6 million in H1 2022, up from €14.7 million in H1 2021, primarily from collaboration and licensing agreements [22] - **R&D Expenses**: Increased to €25 million, representing 67.3% of total operating expenses [22] Future Milestones - **Clinical Readouts**: Anticipated data from lacutamab trials and updates on the ANKET platform in the coming years [24] - **Partnership Strategy**: Open to collaborations for early-stage R&D and later-stage opportunities to maximize asset potential [58] Additional Important Insights - **Regained Rights**: Innate Pharma has regained rights to four preclinical molecules from AstraZeneca, which will be further developed [8][42] - **Market Potential**: Significant unmet medical need in peripheral T-cell lymphoma, with approximately 20,000 new diagnoses annually [57] - **Collaboration with AstraZeneca**: Despite setbacks, the partnership remains strong, with ongoing development of key assets [60][63] Conclusion - Innate Pharma is strategically positioned to leverage its innovative pipeline and partnerships to create value for patients and shareholders, with a strong financial foundation supporting its growth initiatives [68]
Innate Pharma(IPHA) - 2022 Q2 - Earnings Call Presentation
2022-09-15 14:03
Half Year 2022 Financial Results and Business Update September 15, 2022 PARIS: IPH.PA NASDAQ: IPHA © 2021 Innate Pharma. All rights reserved. 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 ...
Innate Pharma(IPHA) - 2022 Q2 - Quarterly Report
2022-09-15 10:12
INNATE PHARMA SA HALF-YEAR FINANCIAL REPORT JUNE 30, 2022 INNATE PHARMA S.A. French société anonyme governed by an Executive Board and a Supervisory Boardé with a share capital of 3,995,355.70 euros composed of 79,893,019 ordinary shares, and 14,095 preferred shares with a nominal value of 0.05 euros each Registered office: 117, Avenue de Luminy, F-13009 Marseille, France Registered with the Company and Trade Register of Marseille under number 424 365 336 The following interim condensed consolidated financi ...
Innate Pharma(IPHA) - 2022 Q1 - Earnings Call Transcript
2022-05-14 15:08
Innate Pharma SA (NASDAQ:IPHA) Q1 2022 Earnings Conference Call May 10, 2022 8:00 AM ET Company Participants Henry Wheeler - VP and Head of IR Mondher Mahjoubi - Chairman of Executive Board and CEO Joyson Karakunnel - Executive VP and Chief Medical Officer Yannis Morel - Executive VP of Product Portfolio Strategy and Business Development and Member of Executive Board Conference Call Participants Daina Graybosch - SVB Leerink Olga Smolentseva - Bryan Garnier Jingming Chen - Evercore Arthur He - H.C. Wainwrig ...