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Innate Pharma Posts 2025 Results, Flags H2 2026 CTCL Phase 3 Start Amid Cash Runway to Q3

Story Highlights
  • Innate Pharma detailed 2025 pipeline gains, led by lacutamab’s planned H2 2026 Phase 3 CTCL trial and early IPH4502 ADC activity alongside advancing AstraZeneca-partnered studies.
  • The company cut staff, reprioritized assets and ended 2025 with €44.8 million in cash and reduced revenues, signaling funding pressure with runway only to late 2026 and reliance on partnerships and its ATM.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Innate Pharma Posts 2025 Results, Flags H2 2026 CTCL Phase 3 Start Amid Cash Runway to Q3

Meet Samuel – Your Personal Investing Prophet

The latest announcement is out from Innate Pharma SA ( (FR:IPH) ).

Innate Pharma on March 26, 2026 reported full-year 2025 results, highlighting pipeline progress led by lacutamab, where the TELLOMAK-3 Phase 3 confirmatory trial in cutaneous T-cell lymphoma is slated to start in the second half of 2026 pending non-dilutive financing. The company also advanced IPH4502, a Nectin-4 exatecan antibody-drug conjugate showing early anti-tumor activity with a favorable safety profile, and continued to benefit from AstraZeneca-partnered programs including the PACIFIC-9 Phase 3 monalizumab trial and the IPH5201 MATISSE Phase 2 lung cancer study.

Operationally, Innate streamlined its organization through a redundancy plan to be completed in the first half of 2026 and discontinued the IPH6501 B-cell lymphoma study as part of pipeline prioritization, while Sanofi deprioritized the BCMA engager IPH6401/SAR’514 but kept its license. Financially, cash and financial assets fell to €44.8 million at year-end 2025 from €91.1 million a year earlier, with revenue halving to €9.0 million mainly due to lower collaboration income, leaving an expected cash runway only through the end of the third quarter of 2026 and underscoring the importance of planned partnering and potential use of its undrawn $75 million ATM program.

The most recent analyst rating on (FR:IPH) stock is a Hold with a EUR1.50 price target. To see the full list of analyst forecasts on Innate Pharma SA stock, see the FR:IPH Stock Forecast page.

More about Innate Pharma SA

Innate Pharma SA is a French biotechnology company focused on immuno-oncology, developing antibody-based therapies and NK-cell engagers targeting receptors such as KIR3DL2, Nectin-4, NKG2A, CD39, CD73 and CD123. The company advances a mix of wholly owned and partnered assets, notably collaborations with AstraZeneca and Sanofi in solid tumors and hematologic malignancies.

Average Trading Volume: 170,639

Technical Sentiment Signal: Sell

Current Market Cap: €108M

For detailed information about IPH stock, go to TipRanks’ Stock Analysis page.

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