Thursday, November 3, 2016 - 06:59

  • Cash, cash equivalents and financial assets amounting to €239.6 million [1]
  • Continued progress with key clinical trials
  • Safety data for lirilumab in combination in Phase I studies presented at the ESMO 2016 Congress
    • The combination of lirilumab and nivolumab in a Phase I study of advanced solid tumors showed no added toxicity over nivolumab monotherapy
    • Efficacy data for the lirilumab-nivolumab combination in head and neck cancer will be presented at the SITC 2016 annual meeting
  • Encouraging preliminary safety and clinical activity results for IPH4102 in a Phase I study presented at the 3WCCL 2016 meeting

Innate Pharma SA (the “Company” - Euronext Paris: FR0010331421 – IPH) today announces its revenues and cash position for the first nine months of 2016.

Cash, cash equivalents and financial instruments of the Company amounted to €239.6 million at September 30, 2016, including current and non-current financial assets (€243.6 million at June 30, 2016). At the same date, its financial liabilities amounted to €5.6 million (€4.1 million at June 30, 2016).

The consumption of cash, cash equivalents and financial instruments amounted to €4.0 million for the third quarter of 2016. This includes the collection during the period of the research tax credit relating to the year 2015 (€7.0 million) and of €2.0 million relating to finance-leases.

This revenue mainly results from:

  • €27.2 million resulting from the co-development and commercialization agreement with AstraZeneca, corresponding to the recognition over the period of the initial payment received in April 2015 (€5.9 million for the same period in 2015);
  • €0.7 million from the collaboration and licensing agreement with Bristol-Myers Squibb corresponding to the recognition of the upfront payment received in July 2011 (€4.4 million from a milestone payment for the same period in 2015).

As a reminder, within the frame of the collaboration and licensing agreement signed with Bristol-Myers Squibb in July 2011, the upfront payment received (€24.9 million, $35.3 million) was recognized in revenue during the expected period of duration of the clinical program in progress at the date of the contract. This upfront payment was entirely recognized as of June 30, 2016.

Regarding the co-development and commercialization agreement with AstraZeneca, the Company recognizes the initial payment of $250 million  over the period during which the Company is committed to complete the studies and based on actual expenses incurred. The measurement of progress has been based on actual expenses incurred compared to the total estimated amount of expenses to be incurred for these studies.

Hervé Brailly, Chief Executive Officer of Innate Pharma, commented: “Innate Pharma is pleased to report another period of significant progress, as our core programs continue to advance in the clinic and we are maintaining a solid cash position. Preliminary safety and clinical activity results for IPH4102 have been presented at the world congress of cutaneous lymphomas. These results are encouraging for this wholly-owned program. Recently, our partner Bristol-Myers Squibb reported safety data for lirilumab and we now look forward to the release of efficacy data at the SITC annual meeting in a few days. Beyond our clinical programs, we have continued to invest in our proprietary preclinical pipeline as we seek to build the Company’s wholly-owned portfolio of programs and improve cancer treatment and clinical outcomes for patients.”


[1] CTCL is a group of rare cutaneous lymphomas of T lymphocytes with poor prognosis and few therapeutic options at advanced stages.


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