Investor update
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Innate Pharma (IPH) Investor update summary

Event summary combining transcript, slides, and related documents.

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Investor update summary

3 Sep, 2026

Strategic and Portfolio Focus

  • Announced a €30 million equity raise, priced at €1.70 per share, resulting in 18.76% dilution and net proceeds of €27.6 million, with closing expected August 18, 2026.

  • Strategic partnership with Sobi includes €75 million upfront, up to €40 million in near-term milestones, and €465 million in additional regulatory and commercial milestones, plus double-digit royalties on future sales.

  • Focused on advancing lacutamab (TELLOMAK-3), IPH4502, preclinical ADC portfolio, and monalizumab in collaboration with AstraZeneca.

  • Organization reshaped for agile execution, leveraging in-house antibody discovery and ADC technologies.

  • Cash runway extended through Q1 2028 with new funds and Sobi partnership proceeds.

Clinical Pipeline and Progress

  • TELLOMAK-3 phase III study in cutaneous T-cell lymphoma initiated, advancing toward BLA filing for Sézary syndrome under FDA Breakthrough Therapy Designation.

  • Lacutamab shows durable responses and favorable safety in Phase 2 for Sézary syndrome and mycosis fungoides, supporting accelerated approval.

  • IPH4502 completed Phase 1 dose escalation with preliminary anti-tumor activity in post-PADCEV urothelial cancer, non-small cell lung cancer, and head and neck cancer; favorable safety profile observed.

  • Preclinical ADC portfolio advancing with focus on bispecifics, enhanced internalization, and novel dual payloads.

  • Monalizumab, co-developed with AstraZeneca, is in Phase 3 PACIFIC-9 trial for NSCLC, with enrollment completed and data expected H2 2026.

Financial and Operational Outlook

  • Cash position of €25.4m as of March 31, 2026, with expected extension of cash runway through Q1 2028 upon closing of Sobi partnership and share offering.

  • Proceeds prioritized for clinical development of IPH4502, advancement of preclinical ADC portfolio, and general corporate purposes.

  • Continues to explore additional financing to support strategic priorities.

  • All milestones, projected sales, and timelines are based on management's current expectations and subject to change.

  • Offering anchored by European and US healthcare investors, with Bpifrance Participations S.A. committed to a €3 million order.

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