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].

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]

Summary of Innate Pharma Update / Briefing (October 28, 2025) Company Overview - **Innate Pharma** is a biotechnology company with 26 years of experience, specializing in monoclonal antibody engineering and developing a clinical pipeline to address high unmet medical needs [3][4] Key Assets and Strategy - The company has refocused its strategy on three priority assets: 1. **Lacutamab**: An anti-KIR3DL2 antibody targeting cutaneous T cell lymphoma (CTCL) with breakthrough therapy designation from the FDA [6][7] 2. **Monalizumab**: In collaboration with AstraZeneca, currently in a Phase III study (PACIFIC-nine) with expected data in 2026 [8][9] 3. **IPH4502**: A novel antibody-drug conjugate (ADC) targeting NETIN4, with ongoing Phase I study and early clinical activity [10][12] Clinical Development and Regulatory Path - **Lacutamab**: - Targets CTCL, specifically mycosis fungoides and Sézary syndrome, with an accelerated path to approval agreed with the FDA [7][13] - A confirmatory Phase III study is planned to validate the indications and is expected to initiate in 2026 [17][73] - Anticipated regulatory milestones include: - Accelerated approval for Sézary syndrome in 2027 - Full approval for mycosis fungoides and Sézary syndrome in 2029 [81] - **Monalizumab**: - The PACIFIC-nine study has completed enrollment and passed a futility analysis, with significant potential financial milestones [9] - **IPH4502**: - Expected to provide early efficacy and safety data by the end of 2023 or early 2024 [12] Market Opportunity and Commercial Insights - The company has identified a significant commercial opportunity for lacutamab based on new claims data, indicating a larger market than previously estimated [17] - The CTCL market analysis conducted by ZS Associates highlights the prevalence and treatment patterns, emphasizing the need for effective therapies [85] Unmet Medical Needs in CTCL - CTCL, particularly Sézary syndrome and mycosis fungoides, presents significant unmet medical needs due to poor prognosis and limited effective therapies [21][46] - Current therapies often lack durable responses, leading to a need for continuous treatment and management of symptoms [47][49] - Lacutamab is positioned to address these needs with a favorable safety profile and potential for profound responses [71][72] Clinical Data Highlights - **TELEMAC Study**: Demonstrated rapid response rates and significant improvements in quality of life for patients with Sézary syndrome and mycosis fungoides [61][63] - Lacutamab showed a median time to global response of 2.8 months and a median duration of response of nearly 14 months in mycosis fungoides [63] Conclusion - Innate Pharma is strategically positioned to advance lacutamab through clinical trials and regulatory pathways, addressing significant unmet needs in the CTCL market while leveraging its expertise in monoclonal antibody development [4][73]

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]