INNATE PHARMA : Third quarter 2017 report
15 Novembre 2017 - 7:01AM
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
codeTicker code |
FR0010331421IPH |
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 MarinoInvestor 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
Attachments:
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