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Jun 30
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Innate Pharma SA Q2 2025 Earnings Report
Innate Pharma SA reported a sharp revenue decline in Q2 2025 while maintaining solid progress in its clinical pipeline and preserving cash runway.
Key Takeaways
Innate Pharma posted weak revenues in Q2 2025 due to lower milestone payments, but reinforced its cash position and continued progress in its ANKET®, ADC, and Lacutamab programs.
Revenue was €2.2M, significantly below the €35.2M in Q2 2024.
Net loss reached €8.1M, compared to a net income of €15.5M in Q2 2024.
Cash position stood at €70.4M as of June 30, 2025, ensuring runway to Q3 2026.
Continued advancement of Lacutamab, IPH4502 and IPH6501 in clinical pipeline.
Innate Pharma SA
Innate Pharma SA
Innate Pharma SA Revenue by Geographic Location
Revenue by Geographic Location
Global Revenue
CapyFin.com Forward Guidance
Innate expects continued progress in clinical development with data readouts ahead and sufficient liquidity through Q3 2026.
Positive Outlook
- Cash runway expected through Q3 2026.
- Ongoing Phase 1 for IPH4502 with preliminary data expected.
- IPH6501 progressing in Phase 1/2 B-NHL study.
- Lacutamab moving toward registrational trial with FDA alignment.
- Sanofi partnership expanded with €15M equity investment.
Challenges Ahead
- Revenue dropped significantly year-over-year.
- No new milestone payments recognized in the quarter.
- Operating losses widened due to lower income.
- Continued dependence on partnerships for revenue.
- No major regulatory approvals or new deals announced this quarter.