Innate Pharma S.A. Q1 FY2025 earnings call

• Strategic pillars: Three key growth pillars include NK-Cell Engagers (ANKET platform with IPH65, IPH61, IPH64), Antibody Drug Conjugates (IPH45, IPH43), and late-stage assets (lacutamab, monalizumab). • Pipeline: Eight innovative assets in clinic, including IPH65 for B-cell lymphomas, IPH45 targeting Nectin-4 expressing solid tumors, lacutamab for CTCL/PTCL, and monalizumab in partnership with AstraZeneca. • Sanofi partnership: Sanofi invested €50M, returned rights to IPH6101 on July 1, pivoted IPH6401 to autoimmune disease. • Upcoming presentations: ASCO to feature long-term lacutamab data, IPH4502 trial-in-progress, and monalizumab updates. • Science behind platforms: ANKET is NK Cell Engager platform; ADCs like IPH45 target Nectin-4 with bystander activity and efficacy in low-expression tumors. • Clinical progress: IPH6501 in Phase 1, IPH4502 in Phase 1 with first patients dosed, lacutamab with FDA breakthrough therapy designation.

No detailed absolute revenue and contribution % breakdown by product segments provided; focus is on pipeline and program progress across strategic pillars.

• Cash position of €72.5M (excluding Sanofi's €15M) enables operations through mid-2026. • Anticipate first data from IPH4502 Phase 1 later in the year. • Near-term focus on finalizing lacutamab Phase 3 confirmatory study and advancing partnering discussions. • IPH6101 transition from Sanofi ongoing, need to evaluate data to determine next steps.

• Uncertainties in regulatory approvals for clinical programs. • Variability in clinical trial outcomes affecting program progress. • Market competition in target areas like B7H3, which could impact product positioning.

Q: Talk about IPH6101 data and Innate's bar for further investment.

A: Transition of IPH6101 back to Innate is ongoing; data not fully received yet. Decision on further investment depends on data and setting (refractory, first line, maintenance) once data is reviewed.

Q: High-level strategy for utilizing resources with 87M+ in bank.

A: Focus on advancing 6501 and 4502 to next decision points; aim to secure funding via partnerships or raises; lacutamab partnering discussions underway.

Q: Lacutamab long-term follow-up data and suitors.

A: Data is in the data room for partners under CDA; long-term data strengthens lacutamab's case, supporting BTD designation.

Q: B7H3 ANKET (IPH62) rationale and vs ADC.

A: IPH62 is part of Sanofi collaboration; ANKET offers orthogonal immune mechanism with NK cells as an alternative to ADCs targeting B7H3.

Q: Financial visibility and financing options for lacutamab Phase 3.

A: Current cash runway doesn't include Phase 3; preferred option is partnership to fund Phase 3; won't do bad deal for lacutamab, exploring various funding options.