INNATE PHARMA : Third quarter 2017 report
15 Novembre 2017 - 7:00AM
Third quarter 2017
report
-
Cash, cash
equivalents and financial assets[*] amounting
to €195.7 million
-
Robust cash
position allows for further investment in portfolio of proprietary
immuno-oncology programs
-
Innate Pharma
continues its clinical
development plans for its first-in-class programs, IPH4102 and
IPH5401, and expects to provide an update early in
2018
Marseille, France, November 15, 2017, 7:00 AM
CET
Innate Pharma SA (the "Company" -
Euronext Paris: FR0010331421 - IPH) today announces its revenues
and cash position for the first nine months of 2017.
Mondher Mahjoubi,
Chief Executive Officer of Innate Pharma, commented: "Our robust cash position as of September 30 2017, provides
us with the ability to further invest in our proprietary discovery
and development portfolio of first-in-class immuno-oncology
programs, including our lead product candidates IPH4102 and
IPH5401. Clinical development plans for both
candidates are in the process of being shaped and we expect to
provide an update early in 2018. Following the promising results
for IPH4102 presented at the 2017 EORTC meeting, Innate Pharma remains committed to bringing IPH4102 to
patients on our own as quickly as possible, in line with our
strategy of becoming an independent, fully integrated
biopharmaceutical company."
Cash, cash equivalents and
financial assets of the Company amounted to €195.7 million at
September 30, 2017, including current and non-current financial
assets (€239.6 million at September 30, 2016). At the same date,
its financial liabilities amounted to €4.9 million
(€5.6 million at September 30, 2016).
The net consumption of cash, cash
equivalents and financial assets* amounted to €8.4 million for
the third quarter of 2017. This includes the collection during the
period of the research tax credit relating to the year 2016 (€8.8
million).
The table below shows the revenue
for the first nine months of 2016 and 2017, as well as the revenue
for the third quarter of the same years:
In thousand of euros |
Nine-month period ended
September 30 |
Three-month
period ended
September 30 |
2017 |
2016 |
2017 |
2016 |
Revenue
from collaboration and licensing agreements |
27,934 |
27,900 |
12,380 |
11,214 |
Revenue |
27,934 |
27,900 |
12,380 |
11,214 |
For the nine-month period ended
September 30, 2017, revenue results from the co-development and
commercialization agreement with AstraZeneca, corresponding to the
recognition over the period of the initial payment received in
April 2015 (€27.2 million for the same period in 2016).
The nine-month period ended
September 30, 2016 included a €0.7 million amount resulting from
the collaboration and licensing agreement with Bristol-Myers Squibb
corresponding to the recognition of the upfront payment received in
July 2011.
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.
About Innate
Pharma:
Innate Pharma S.A. is a
clinical-stage biotechnology company dedicated to improving cancer
treatment and clinical outcomes for patients through first-in-class
therapeutic antibodies that harness the innate immunity.
Innate Pharma specializes in
immuno-oncology, a new therapeutic field that is changing cancer
treatment by mobilizing the power of the body's immune system to
recognize and kill cancer cells.
The Company's broad pipeline
includes four first-in-class clinical stage antibodies as well as
preclinical candidates and technologies that have the potential to
address a broad range of cancer indications with high unmet medical
needs.
Innate Pharma has pioneered the
discovery and development of checkpoint inhibitors, with a
unique expertise and understanding of Natural Killer cell biology.
This innovative approach has resulted in major alliances with
leaders in the biopharmaceutical industry including AstraZeneca,
Bristol-Myers Squibb, Novo Nordisk A/S and Sanofi. Innate Pharma is
building the foundations to become a fully-integrated
biopharmaceutical company.
Based in Marseille, France, Innate
Pharma has more than 180 employees and is listed on Euronext
Paris.
Learn more about Innate Pharma at
www.innate-pharma.com
Information about
Innate Pharma shares:
ISIN code
Ticker code |
FR0010331421
IPH |
Disclaimer:
This press release contains
certain forward-looking statements. Although the company believes
its expectations are based on reasonable assumptions, these
forward-looking statements are subject to numerous risks and
uncertainties, which could cause actual results to differ
materially from those anticipated. For a discussion of risks and
uncertainties which could cause the company's actual results,
financial condition, performance or achievements to differ from
those contained in the forward-looking statements, please refer to
the Risk Factors ("Facteurs de Risque") section of the Document de Reference prospectus filed with the AMF,
which is available on the AMF website (http://www.amf-france.org)
or on Innate Pharma's website.
This press release and the
information contained herein do not constitute an offer to sell or
a solicitation of an offer to buy or subscribe to shares in Innate
Pharma in any country.
For additional
information, please contact:
Investors
Innate
Pharma
Dr Markus Metzger / Jérôme Marino
Investor relations
Tel.: +33 (0)4 30 30 30 30
investors@innate-pharma.com
|
International Media
Consilium Strategic Communications
Mary-Jane Elliott /
Jessica Hodgson
Tel.: +44 (0)20 3709 5700
InnatePharma@consilium-comms.com |
|
French Media
ATCG Press
Marie Puvieux
Mob: +33 (0)6 10 54 36 72
presse@atcg-partners.com
|
* Including current and
non-current financial assets
PR in English
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: INNATE PHARMA via Globenewswire
Innate Pharma (EU:IPH)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Innate Pharma (EU:IPH)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024