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IPHA · NASDAQ · Biotechnology

Innate Pharma (ADR)

Develops innate-immunity-based antibody therapies for cancer alongside AstraZeneca and Sanofi collaborations.

$2.22

After-hours close0.00 (0.00%)

At close$2.22(−0.45%)

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Profile

Innate Pharma S.A.IPHAHealth Care

Develops antibody-based cancer therapies through monoclonal antibodies, ANKET NK-cell engagers, and ADCs. Its lead assets include lacutamab, IPH4502, and AstraZeneca-partnered monalizumab, while collaborations with Sanofi and AstraZeneca shape clinical development.

Develops antibody-based cancer therapies rooted in innate-immune biology and natural-killer-cell engagement. Its clinical portfolio spans monoclonal antibodies, ANKET multispecific NK-cell engagers, and antibody-drug conjugates, following an earlier anti-KIR focus.

Lacutamab, IPH4502, and AstraZeneca-partnered monalizumab are the cited lead assets. Clinical programs cover T-cell lymphomas, solid tumors, and non-small-cell lung cancer; Sanofi and AstraZeneca collaborations form a core part of the development model.

Operations are based in Marseille, with a U.S. office in Rockville, Maryland. The business depends on advancing ongoing proprietary clinical programs and partner-led development, licensing, and commercialization arrangements.

Company facts

CEOJonathan Dickinson

ListedOct 17, 2019

ExchangeNASDAQ

HeadquartersMarseille, France

CountryFrance

Employees174

CIK0001598599

ISINUS45781K2042

Key statistics

Market cap$208.5M

EPS (ttm)−$0.6234

P/E (ttm)−3.56

ROE593.9%

P/B−7.90

P/S63.21

Dividend yield—

Beta1.62vs XLV 0.08

Year to date +22.0% · Average volume (30d) 283.9K

Analysts

Price target, next 12 months$7.00+215.3%Median of 6 analysts · vs the Aug 28 close

ConsensusBuy4 of 6 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $2.22

High$9.00+305.4%

Median$7.00+215.3%

Low$4.00+80.2%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating	Prior target	Target
Aug 12, 2026	BTIG	Reiterate		Buy		$9
Aug 11, 2026	Leerink Partners	Target			$2	$4
Aug 11, 2026	Citigroup	Upgrade	Buy	Outperform
Aug 10, 2026	H.C. Wainwright	Reiterate		Buy	$5	$7
Oct 29, 2025	H.C. Wainwright	Target				$5

Earnings

EPS

Estimate−$0.35

ReportedDue Sep 17, 2026

Revenue

Estimate$5.8M

ReportedDue Sep 17, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
May 13, 2026	−$0.16	−$0.35	−116.4%	$5.7M	$4.8M	−16.1%	+64.39%
Sep 17, 2025Q2 FY25	−$0.14	−$0.29	−106.5%	$2.0M	$5.7M	+192.0%	−5.37%
May 12, 2025	−$0.27	−$0.32	−18.3%	$18.2M	$285.8K	−98.4%	−12.07%
Nov 17, 2020	−$0.34	−$0.15	+56.1%	$39.7M	$41.3M	+4.0%	+4.80%

View details

Financial highlights

	Q2 FY23	Q4 FY23	Q2 FY24	Q4 FY24	Q2 FY25	Q4 FY25
Revenue	$41.0M	$19.2M	$14.3M	$319.8K	$5.6M	−$2.4M
Gross profit	$22.7M	−$3.6M	−$19.4M	$34.0M	−$18.1M	$21.4M
Operating income	−$6.1M	−$8.6M	−$30.5M	−$29.3M	−$29.5M	−$32.4M
Net income	$2.0M	−$10.8M	−$28.7M	−$28.6M	−$24.7M	−$32.0M
Diluted EPS	$0.02	−$0.14	−$0.36	−$0.35	−$0.29	−$0.35
Gross margin	55.5%	-18.9%	-135.5%	10,634.8%	-322.2%	—
Operating margin	-14.9%	-44.8%	-213.1%	-9,152.9%	-523.2%	—

Balance sheet, Dec 31, 2025Cash & short-term investments $39.7M · Total debt $26.1M · Total assets $72.6M · Shareholders' equity −$25.1M

Dividends

No dividends on record.

Ownership

Institutions 0.20%Insiders —

Shares outstanding 93.90M · Float 70.57M · 75.2% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Sanofi	8.35M	9.05%	13G	Apr 29, 2025
MedImmune Limited	7.83M	8.30%	13D	Feb 6, 2026
Caisse des depots et consignations	7.32M	7.90%	13D	May 7, 2025
Lion Point Capital, LP	81.2K	0.09%	13F	May 15, 2026
Morgan Stanley	43.5K	0.05%	13F	May 15, 2026

Insider tradesForm 4

Nothing filed in the last 12 months.