Financial Data and Key Metrics Changes - Revenue and other income amounted to EUR 9 million, including EUR 2.8 million from licensing and collaboration agreements and EUR 6.2 million in governmental funding for research expenditures [55] - Operating expenses were EUR 63 million, with R&D expenses decreasing by 16% year-over-year to EUR 43.6 million, reflecting study maturity and reduced indirect R&D expenses [56] - Cash position at the end of 2025 was EUR 44.8 million, providing funding visibility until the end of the third quarter of 2026 [57] Business Line Data and Key Metrics Changes - Focus on three priority programs: lacutamab, IPH4502, and monalizumab, with significant progress reported in each [6][11] - Lacutamab received FDA clearance for the TELLOMAK 3 phase III trial, expected to initiate in the second half of 2026 [8][18] - IPH4502 is advancing rapidly with early signs of antitumor activity in heavily pretreated patients, particularly in urothelial cancer [9][40] Market Data and Key Metrics Changes - Estimated 300 incident patients per year in Sézary syndrome in the U.S., with a prevalence of around 1,000 patients, primarily treated in specialized academic centers [22] - Mycosis fungoides represents a larger opportunity with approximately 3,000 incident patients per year and a prevalence of around 12,000 patients in the U.S. [25] - Mogamulizumab generated approximately $300 million in annual sales in 2025, projected to reach $350 million in 2026 [25] Company Strategy and Development Direction - Company aims to deliver high-value differentiated therapies for patients with significant unmet medical needs, focusing on late-stage development of its pipeline [4][5] - Strategic focus on three high-value clinical assets allows for concentrated resource allocation to generate clinical impact and long-term value [6] - Plans to leverage internal expertise and platform capabilities to advance the next generation of antibody-drug conjugates (ADCs) [6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of IPH4502 to address significant unmet needs in the post-PADCEV setting and expand into other tumor types [60] - The company is negotiating non-dilutive financing options to support the initiation of the TELLOMAK 3 study for lacutamab [61] - Upcoming data readouts for monalizumab and IPH4502 are expected to create inflection points for the company [110] Other Important Information - The partnership with AstraZeneca for monalizumab includes potential milestones of up to $1.275 billion, with $450 million already received [52] - The MATISSE phase II trial for IPH5201 is ongoing, with results from an interim analysis expected to be presented at the AACR Annual Meeting [51] Q&A Session Summary Question: Updates on IPH4502 program and competitive positioning - Management highlighted strong interest in IPH4502 and its differentiation as a topo 1 ADC, focusing on the post-PADCEV setting [66] Question: MATISSE interim data presentation at AACR - The interim analysis will provide insights into the trial's efficacy and the potential path forward for lung cancer development [70] Question: Collaboration revenue from monalizumab program - Management clarified that revenue from the old agreement has dropped as the project is now fully under AstraZeneca's control [72] Question: Updates on lacutamab partnership discussions - Management is evaluating options for financing and partnership structures to maximize shareholder value [90] Question: Sales infrastructure for lacutamab - If pursued independently, a small sales team of around 20 people would be needed, focusing on specialized academic centers [105]

Financial Data and Key Metrics Changes - Revenue and other income amounted to EUR 9 million, including EUR 2.8 million from licensing and collaboration agreements and EUR 6.2 million in governmental funding for research expenditures [33] - Operating expenses were EUR 63 million, with R&D expenses decreasing by 16% year-over-year to EUR 43.6 million, reflecting study maturity and reduced indirect R&D expenses [33] - Cash position at the end of 2025 was EUR 44.8 million, providing funding visibility until the end of the third quarter of 2026 [33] Business Line Data and Key Metrics Changes - The company is prioritizing three high-value clinical assets: IPH4502, lacutamab, and monalizumab, focusing resources on these areas to generate clinical impact and long-term value [5][6] - Lacutamab has received FDA clearance to proceed with the TELLOMAK 3 phase III trial, expected to initiate in the second half of 2026 [7][10] - IPH4502 is progressing rapidly with early signs of antitumor activity in heavily pretreated patients, particularly in urothelial cancer [7][8] Market Data and Key Metrics Changes - The market for lacutamab in CTCL is concentrated, with approximately 300 incident patients per year in Sézary syndrome and around 1,000 patients in total, primarily treated in specialized academic centers [14][15] - Mycosis fungoides represents a larger opportunity with approximately 3,000 incident patients per year and a prevalence of around 12,000 patients in the U.S. [15] - Mogamulizumab generated approximately $300 million in annual sales in 2025, projected to reach $350 million in 2026, highlighting the market potential for lacutamab [15] Company Strategy and Development Direction - The company aims to advance its pipeline of differentiated therapies for significant unmet medical needs, focusing on late-stage development and key clinical and regulatory milestones [4][5] - A streamlined organization supports efficient decision-making and disciplined capital allocation, with a redundancy plan expected to be completed by the end of April [5] - The strategic focus on high-value clinical assets allows the company to concentrate resources effectively [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the progress of IPH4502 and its potential to address unmet needs in the post-PADCEV setting, with a focus on expanding into earlier lines of therapy [36] - The company is negotiating non-dilutive financing options to support the initiation of the TELLOMAK 3 study for lacutamab [36] - The upcoming data readouts for monalizumab and IPH4502 are expected to create significant inflection points for the company [36][37] Other Important Information - The partnership with AstraZeneca for monalizumab and IPH5201 includes potential milestone payments of up to $1.275 billion and $885 million, respectively [31][32] - The MATISSE phase II trial for IPH5201 is ongoing, with results from an interim analysis expected to be presented at the AACR Annual Meeting [30][44] Q&A Session Summary Question: Can you provide specifics regarding the IPH4502 program and its competitive positioning? - Management highlighted strong interest in IPH4502 and its differentiation as a Topo 1 ADC, focusing on the post-PADCEV setting [40][41] Question: What can be expected from the MATISSE interim data presentation at AACR? - The interim analysis will provide insights into the trial's efficacy and the potential path forward for development in lung cancer [44] Question: What is the status of collaboration revenue from the monalizumab program? - Revenue from the collaboration has dropped as the project is now fully under AstraZeneca's control, with future development dependent on upcoming results [46] Question: How does CD39 fit in relation to CD73 in the context of the MATISSE trial? - CD39 is upstream in the adenosine pathway, and blocking it can enhance immune stimulation, making it a valuable target in combination with chemotherapy [55][56] Question: What sales infrastructure is the company considering for lacutamab? - The company is evaluating whether to build its own sales team or partner with a BD partner, estimating a small commercial infrastructure would suffice for the CTCL market [72]

Financial Data and Key Metrics Changes - Revenue and other income for 2025 amounted to EUR 9 million, including EUR 2.8 million from licensing and collaboration agreements and EUR 6.2 million in governmental funding for research expenditures [33] - Operating expenses were EUR 63 million, with R&D expenses at EUR 43.6 million, a decrease of 16% year-over-year, reflecting study maturity and reduced indirect R&D expenses [33] - Cash position at the end of 2025 was EUR 44.8 million, providing funding visibility until the end of Q3 2026 [33] Business Line Data and Key Metrics Changes - The company is focusing on three high-value clinical assets: IPH4502, lacutamab, and monalizumab, with significant progress reported in their development [5][6] - IPH4502 is showing preliminary antitumor activity in heavily pretreated patients, particularly in urothelial cancer [7][23] - Lacutamab has received FDA clearance for the TELLOMAK 3 phase III trial, expected to initiate in the second half of 2026 [9][10] Market Data and Key Metrics Changes - In the U.S., there are approximately 300 incident patients per year in Sézary syndrome, with a prevalence of around 1,000 patients, primarily treated in specialized academic centers [14][15] - Mycosis fungoides represents a larger opportunity with approximately 3,000 incident patients per year and a prevalence of around 12,000 patients in the U.S. [16] Company Strategy and Development Direction - The company aims to deliver high-value differentiated therapies for significant unmet medical needs, focusing on late-stage development of its pipeline [5][6] - A strategic focus on IPH4502, lacutamab, and monalizumab allows for concentrated resource allocation to generate clinical impact and long-term value [6] - The company is exploring potential pharma partnerships and royalty-based structures to support late-stage development while preserving shareholder value [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the progress of their clinical programs and the potential for multiple catalysts in the near and medium term [8][36] - The company is negotiating non-dilutive financing options to support the initiation of the TELLOMAK 3 study for lacutamab [36] Other Important Information - The partnership with AstraZeneca for monalizumab and IPH5201 includes significant milestone payments, with potential royalties on sales [31][32] - The company has streamlined its organization to ensure efficient decision-making and disciplined capital allocation [6] Q&A Session Summary Question: Can you provide specifics regarding the IPH4502 program and its competitive positioning? - Management highlighted strong interest in IPH4502 and its differentiation as a Topo 1 ADC, focusing on the post-PADCEV setting [39][40] Question: What can be expected from the MATISSE interim data presentation at AACR? - The interim analysis will provide insights into the trial's efficacy and the potential path forward for development in lung cancer [42][44] Question: How is the collaboration revenue from the monalizumab program expected to evolve? - Future development will depend on upcoming results from the PACIFIC-9 trial, with current revenue reflecting the transition to AstraZeneca's control [45] Question: What updates can be shared regarding lacutamab's partnership discussions? - The company is evaluating options for financing and partnerships to bring lacutamab to market efficiently [58][60] Question: What kind of sales infrastructure is being considered for lacutamab? - If pursued independently, a small sales team of around 20 people would be sufficient due to the concentrated treatment landscape [70][71]

Core Insights - Innate Pharma reported strong execution in 2025, with significant advancements in its clinical pipeline, including the finalization of the TELLOMAK-3 design and FDA clearance for lacutamab, which is set for Phase 3 initiation in H2 2026 [3][6] - The company is experiencing a decrease in revenue from collaboration and licensing agreements, primarily due to reduced recognition from agreements with AstraZeneca and Sanofi [15][36] - Innate Pharma's cash position as of December 31, 2025, is €44.8 million, which is expected to sustain operations until the end of Q3 2026 [6][48] Financial Performance - Total revenue and other income decreased by 55.2% to €9.0 million in 2025 from €20.1 million in 2024, with collaboration and licensing revenue dropping by 77.9% to €2.8 million [16][35] - Research and development expenses decreased by 16.1% to €43.6 million in 2025, reflecting lower direct costs associated with clinical programs [39][40] - The net loss for 2025 was €49.2 million, slightly improved from a net loss of €49.5 million in 2024, with basic and diluted loss per share at €0.55 [19][20] Clinical Pipeline Updates - Lacutamab is advancing towards a confirmatory Phase 3 trial in cutaneous T-cell lymphoma, with the trial design approved by the FDA [6][9] - IPH4502, a Nectin-4 exatecan ADC, is showing early signs of anti-tumor activity in heavily pre-treated patients, with ongoing cohort enrichment at pharmacologically active dose levels [3][10] - The PACIFIC-9 Phase 3 trial for monalizumab, partnered with AstraZeneca, is on track for data readout in H2 2026 [8][11] Corporate Developments - The company is implementing a redundancy plan to streamline operations, expected to be completed in H1 2026 [16] - Innate Pharma has retained rights to SAR'579/IPH6101 and is exploring next steps for its development following a strategic review [12] - The company is negotiating non-dilutive financing options, including pharma partnerships and royalty structures, to support its operations [49][50]

Core Viewpoint - Innate Pharma will hold a conference call and webcast on March 26, 2026, to discuss its financial results for the full year ending December 31, 2025 [1]. Group 1: Conference Call Details - The conference call is scheduled for 2 p.m. CET / 9 a.m. EDT [1]. - A live webcast will be available at a specified link, and participants can also join via telephone using a registration link [2]. - A replay of the webcast will be accessible on the company website for 90 days following the event [2]. Group 2: Company Overview - Innate Pharma S.A. is a global, clinical-stage biotechnology company focused on developing immunotherapies for cancer patients [3]. - The company specializes in antibody-engineering and innovative target identification to create next-generation antibody therapeutics [3]. Group 3: Product Pipeline - Innate Pharma is advancing a portfolio of differentiated potential first and/or best-in-class assets, including IPH4502, lacutamab, and monalizumab, targeting high unmet medical needs in oncology [4]. - IPH4502 is a Nectin-4 ADC for solid tumors, lacutamab is an anti-KIR3DL2 antibody for cutaneous T cell lymphomas, and monalizumab is an anti-NKG2A antibody developed in collaboration with AstraZeneca for non-small cell lung cancer [4]. Group 4: Collaborations - The company has established collaborations with leading biopharmaceutical companies such as Sanofi and AstraZeneca, as well as academic and research institutions to enhance innovation in immuno-oncology [5].

Summary of Innate Pharma Conference Call Company Overview - **Company**: Innate Pharma (NasdaqGS:IPHA) - **Date of Conference**: March 09, 2026 Key Programs Discussed 1. Nectin-4 ADC (IPH4502) - **Mechanism**: Targets Nectin-4 with a topoisomerase I payload, positioned as a growth driver for the company [2][5] - **Differentiation**: Compared to other Nectin-4 ADCs, IPH4502 has a superior antibody and linker, leading to better efficacy, especially in low Nectin-4 expression scenarios [7][8] - **Clinical Development**: Ongoing Phase 1 study in various tumor types, with potential indications in triple-negative breast cancer, prostate cancer, and non-small cell lung cancer [14][15] - **Study Size**: Expanded from 185 to approximately 120 patients, aiming for 10-15 patients in key tumor types to establish clinical signals [16] - **Data Release**: On track for data release by the end of Q2 2026, with a decision pending on whether to release early or wait for a more substantial dataset [21][22] 2. Lacutamab - **Type**: KIR3DL2 monoclonal antibody for cutaneous and peripheral T-cell lymphomas [38] - **Regulatory Status**: Received Breakthrough Therapy Designation (BTD) from the FDA, with an accelerated path to approval agreed upon [39] - **Confirmatory Study**: An umbrella protocol with two cohorts (Sézary syndrome and mycosis fungoides) is in place, comparing against active treatments [40] - **Funding Needs**: Currently seeking funding to initiate the confirmatory study, with options including strategic partnerships and equity raises [42][44] - **Market Potential**: High unmet medical need in early-stage patients, with potential to prevent disease progression [56] 3. Monalizumab - **Collaboration**: In partnership with AstraZeneca, focusing on early-stage lung cancer [71] - **Biological Rationale**: Combines with chemotherapy to enhance efficacy, supported by previous phase 2 studies showing improved progression-free survival (PFS) [72][73] - **Data Timeline**: Expected primary completion by the end of June 2026, with potential data release in the second half of the year [74] Financial Considerations - **Cash Runway**: Currently has cash through Q3 2026, exploring options to extend runway through royalty financing and potential equity raises [81][83] Additional Insights - **Market Dynamics**: The company is aware of competitive pressures in larger tumor settings and is focusing on differentiation through clinical signals and unmet needs [17][18] - **Regulatory Strategy**: Emphasizes the importance of strong clinical signals for investor confidence and market positioning [26] - **Potential for Early Use**: Lacutamab may be positioned for earlier treatment stages, creating a new market opportunity [56] This summary encapsulates the key points discussed during the conference call, highlighting the strategic direction and clinical development of Innate Pharma's leading programs.

Company Overview - Innate Pharma S.A. is a global, clinical-stage biotechnology company focused on developing immunotherapies for cancer patients [3] - The company specializes in antibody-engineering and innovative target identification to create next-generation antibody therapeutics [3] Product Pipeline - Innate Pharma is advancing a portfolio of differentiated potential first and/or best-in-class assets, including: - IPH4502, a Nectin-4 ADC developed for solid tumors - Lacutamab, an anti-KIR3DL2 antibody for cutaneous T cell lymphomas and peripheral T cell lymphomas - Monalizumab, an anti-NKG2A antibody developed in collaboration with AstraZeneca for non-small cell lung cancer [4] Collaborations - The company has established partnerships with leading biopharmaceutical companies such as Sanofi and AstraZeneca, as well as renowned academic and research institutions to enhance innovation in immuno-oncology [5] Share Information - As of February 19, 2026, Innate Pharma has a total of 93,743,243 ordinary shares and 6,140 Preferred Shares from 2016 and 7,581 from 2017, resulting in a total of 94,484,443 theoretical voting rights [1] - The total number of exercisable voting rights is 94,465,868, calculated without considering shares held in treasury or with suspended voting rights [2]

Q3 2025 Business Update and Financial Results November 13 2025 This document contains data pertaining to the Company's potential markets and the industry and environment in which it operates. Some of this data comes from external sources that are recognized in the field or from Company's estimates based on such sources. This presentation discusses product candidates that are under clinical development, and which have not yet been approved for marketing by the U.S. Food and Drug Administration or the Europea ...

Core Insights - Innate Pharma reported strong execution across key programs, including FDA clearance for TELLOMAK-3, advancing lacutamab towards Phase 3 and potential accelerated approval in Sézary syndrome [2][13] - The company is on track for dose-escalation data from IPH4502 in the first half of 2026 and expects monalizumab PACIFIC-9 results in the second half of 2026 [2][5] - The cash position as of September 30, 2025, was €56.4 million, providing a runway until the end of Q3 2026 [5][17] Pipeline Highlights - Lacutamab is progressing towards Phase 3 initiation in H1 2026 after FDA clearance for the TELLOMAK-3 trial [5][13] - IPH4502, a Nectin-4 ADC, is in Phase 1 with enrollment progressing well and pharmacologically active dose reached [5][14] - Monalizumab PACIFIC-9 trial is ongoing, with data expected in H2 2026 [9][20] Financial Results - Revenues for the first nine months of 2025 were €2.3 million, down from €10.2 million in the same period in 2024 [18] - Financial liabilities amounted to €24.8 million as of September 30, 2025 [17] Corporate Update - The company is prioritizing investments in high-value clinical assets, including IPH4502, lacutamab, and monalizumab [3][20] - A redundancy plan is in place to streamline the organization, expected to be completed in the first half of 2026 [23]

Core Perspective - The event focuses on the clinical and commercial outlook for lacutamab, highlighting its significance in the market [1][2]. Medical Perspective - The presentation will include insights from medical experts Pierluigi Porcu and Sonia Quaratino, discussing the landscape and future steps for lacutamab [2]. Commercial Perspective - Stéphanie Cornen from Innate and Chris Stuessy-Vidas from ZS Associates will present on the commercial opportunities for lacutamab, including new claims data that indicate a promising market potential [3].