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Innate Pharma SA (FR:IPH)
:IPH
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Innate Pharma SA
(OTC:IPH)
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Rating:48Neutral
Price Target:
€2.00
▲(12.36% Upside)
Innate Pharma SA's overall stock score is primarily impacted by its weak financial performance, characterized by declining revenues and high leverage. While the strategic focus on high-value clinical assets is promising, the company's valuation metrics and technical indicators present challenges. The earnings call provided some positive insights, but concerns about reduced R&D spending and leadership changes weigh on the outlook.
Positive Factors
Strategic Focus on High-Value Clinical Assets
Focusing on high-value clinical assets can drive long-term growth by concentrating resources on promising therapies, enhancing potential for successful outcomes and market impact.
Financial Stability
A strong cash position provides financial stability, enabling the company to fund ongoing research and development activities and strategic initiatives without immediate liquidity concerns.
Lacutamab's Potential in CTCL
FDA breakthrough designation for lacutamab highlights its potential efficacy, accelerating its development and enhancing its market potential in treating specific cancer types.
Negative Factors
Declining Revenue
A significant decline in revenue indicates challenges in sustaining business operations and could impact the company's ability to invest in future growth opportunities.
High Debt Levels
High debt levels can strain financial resources, limiting flexibility and increasing financial risk, potentially impacting long-term sustainability and growth.
Reduction in R&D Expenses
Reduced R&D spending may hinder innovation and the development of new therapies, potentially affecting the company's competitive position and future growth prospects.
Innate Pharma SA (IPH) vs. iShares MSCI France ETF (EWQ)
Market Cap
$159.45M
Dividend YieldN/A
Average Volume (3M)173.09K
Price to Earnings (P/E)―
Beta (1Y)0.87
Revenue Growth-75.86%
EPS Growth-30.54%
CountryFR
Employees181
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.25
Shares Outstanding92,183,525
10 Day Avg. Volume228,457
30 Day Avg. Volume173,094
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)13.31
Price to Sales (P/S)9.32
P/FCF Ratio-16.14
Enterprise Value/Market Cap0.62
Enterprise Value/Revenue7.86
Enterprise Value/Gross Profit-3.23
Enterprise Value/Ebitda-2.06
Forecast
1Y Price Target
$2.11Price Target Upside18.73% Upside
Rating ConsensusHold
Number of Analyst Covering2
Innate Pharma SA Business Overview & Revenue Model
Company DescriptionInnate Pharma SA (IPH) is a biotechnology company based in France that specializes in the development of innovative immunotherapy treatments for cancer. The company focuses on harnessing the immune system to fight cancer through its proprietary antibody technology, particularly in the development of monoclonal antibodies and other therapeutic agents targeting various cancer indications. Innate Pharma aims to provide breakthrough therapies that improve patient outcomes in oncology.
How the Company Makes MoneyInnate Pharma generates revenue primarily through collaborations and partnerships with pharmaceutical companies, which may include upfront payments, milestone payments, and royalties on sales of products developed from their technology. The company also engages in clinical trial collaborations, licensing agreements, and may receive grant funding for specific research projects. Key revenue streams include the monetization of its drug candidates, particularly those in late-stage development or with promising clinical trial results, as well as any potential sales of products that successfully reach the market. Significant partnerships with larger pharmaceutical firms enhance its financial stability and growth prospects.
Innate Pharma SA Earnings Call Summary
Earnings Call Date:Sep 17, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Mar 19, 2026
Earnings Call Sentiment Neutral
The earnings call reflected a strategic shift towards prioritizing high-value clinical assets with promising progress in key trials. However, there were concerns over reduced R&D spending and the deprioritization of certain research areas, alongside the departure of a key scientific leader. The company's financial position remains stable, providing support for its strategic objectives.Q2-2025 Updates
Positive Updates
Strategic Focus on High-Value Clinical Assets
Innate Pharma has decided to focus its investment on three high-value clinical assets: IPH4502, lacutamab, and monalizumab, which are expected to create meaningful value for patients and shareholders.
IPH4502 Phase I Enrollment Progress
Enrollment in the first-in-human Phase I study of IPH4502 is progressing well, with completion expected by the end of Q1 2026. Preliminary safety and activity data are anticipated in the first half of 2026.
Lacutamab's Potential in CTCL
Lacutamab has received FDA breakthrough therapy designation for relapsed or refractory Sézary syndrome, with strong long-term follow-up data presented at ASCO 2025, supporting its potential for accelerated approval.
Monalizumab Phase III Trial Progress
The Phase III PACIFIC-9 trial for monalizumab, conducted by AstraZeneca, is fully recruited with primary completion expected in the first half of 2026 and data expected in the second half of 2026.
Financial Stability
Innate Pharma reported EUR 70.4 million in cash and financial assets as of June 30, 2025, providing a cash runway until the end of Q3 2026.
Negative Updates
Reduction in R&D Expenses
R&D expenses decreased by 29% compared to the previous year, reflecting the phasing of certain clinical programs, indicating a potential slowdown in broader research activities.
CSO Eric Vivier's Departure
CSO Eric Vivier is leaving his full-time position to return to academic research, although he will continue to support the company in an advisory role.
Strategic Deprioritization of NK Cell Programs
The ANKET programs and NK cell targeting have been deprioritized in the company's strategy, potentially affecting future innovation in this area.
Company Guidance
During the Innate Pharma conference call on September 17, 2025, the company provided guidance on its strategic focus and financial outlook. The company will concentrate its investments on three high-value clinical assets: IPH4502, lacutamab, and monalizumab, which have the potential to transform cancer care. Innate Pharma is undertaking a strategic refocus and organizational streamlining with a cash runway extending to the end of the third quarter of 2026. Financial results for the first half of 2025 included total revenue of EUR 4.9 million and operating expenses of EUR 30.3 million. The company reported EUR 70.4 million in cash, cash equivalents, and financial assets as of June 30, 2025. Innate Pharma aims to complete enrollment in the IPH4502 Phase I trial by Q1 2026, with preliminary data expected in the first half of 2026. Meanwhile, they plan to advance lacutamab to Phase III, targeting a potential accelerated approval in 2027, and anticipate Phase III data for monalizumab in H2 2026.Innate Pharma SA Financial Statement Overview
Summary
Income Statement
30
Negative
Balance Sheet
40
Negative
Cash Flow
35
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.64M | 12.62M | 51.90M | 49.64M | 12.11M | 69.77M |
| Gross Profit | -30.79M | -31.86M | 5.62M | 6.01M | -34.89M | 20.07M |
| EBITDA | -48.11M | -50.99M | -1.84M | -61.30M | -43.23M | 13.30M |
| Net Income | -46.05M | -49.47M | -7.57M | -58.10M | -52.81M | -63.98M |
Balance Sheet | ||||||
| Total Assets | 92.94M | 111.06M | 184.19M | 207.86M | 267.50M | 307.42M |
| Cash, Cash Equivalents and Short-Term Investments | 60.03M | 80.77M | 92.46M | 101.48M | 119.84M | 151.64M |
| Total Debt | 27.03M | 31.00M | 39.89M | 42.25M | 44.25M | 19.09M |
| Total Liabilities | 87.79M | 102.22M | 132.29M | 153.71M | 160.06M | 151.45M |
| Stockholders Equity | 5.14M | 8.83M | 51.90M | 54.15M | 107.44M | 155.97M |
Cash Flow | ||||||
| Free Cash Flow | -41.26M | -7.29M | -34.91M | -20.28M | -59.79M | -63.09M |
| Operating Cash Flow | -41.10M | -6.90M | -32.56M | -19.15M | -58.46M | -51.81M |
| Investing Cash Flow | 15.24M | 9.20M | 20.63M | 1.88M | -917.00K | -13.37M |
| Financing Cash Flow | 8.79M | -6.01M | -1.97M | -1.83M | 26.82M | -1.14M |
Innate Pharma SA Technical Analysis
Positive
1.78
Price Trends
1.80
Negative
1.76
Positive
1.82
Negative
Market Momentum
>-0.01
Negative
54.30
Neutral
59.46
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:IPH, the sentiment is Positive. The current price of 1.78 is above the 20-day moving average (MA) of 1.70, below the 50-day MA of 1.80, and below the 200-day MA of 1.82, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 54.30 is Neutral, neither overbought nor oversold. The STOCH value of 59.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:IPH.
Innate Pharma SA Peers Comparison
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1.78
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-7.48%
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0.36
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.