Innate Pharma S.A. (IPH) Earnings Call Transcripts
Innate Pharma S.A.'s Latest Earnings Call - March 26, 2026
Innate Pharma S.A. reported its Full Year 2025 results on March 26, 2026, with total revenue of EUR 9 million, reflecting a decrease from the previous year. The company is focusing on three key clinical assets: lacutamab, IPH4502, and monalizumab, with significant upcoming milestones expected in the second half of 2026. Management emphasized a disciplined approach to capital allocation and strategic partnerships to support late-stage development, while maintaining a cash position of EUR 44.8 million, providing funding visibility until Q3 2026.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | EUR 9 million (miss) |
| Operating Expenses | EUR 63 million (inline) |
| R&D Expenses | EUR 43.6 million (positive) |
| Cash Position | EUR 44.8 million (neutral) |
| Market Opportunity for Lacutamab | up to EUR 150 million (positive) |
| Potential Market for Lacutamab | over EUR 500 million (positive) |
Guidance from management
Management maintained guidance for continued focus on key clinical assets and emphasized the importance of strategic partnerships to support late-stage development. They expect to initiate the TELLOMAK-3 trial in the second half of 2026.
What management said
Sure. We have established the MTD, and this is going to be, let's say, at an expected level according to what we know for other exatecan-based assets. And it is very encouraging to see this preliminary activity at the therapeutic dose in different tumor types. And we are going to eventually explore even further this clinical activity.
With regards to the revenue, you have to be careful because, in fact, it relates to the old agreement where we were co-developing the early stage of development. So this is the very leftover, and those projects are over. So now the project is completely in the end of AstraZeneca. So the accounting treatment is slightly different. It's not going through the revenue, it's through collaboration liabilities of the balanc...
What analysts pressed on
Analysts expressed concerns regarding the drop in collaboration revenue for monalizumab and the need for clarity on future milestone payments. There were also questions about the competitive landscape for IPH4502 and the potential for additional data readouts in the near term.
Main topics on the call
- Focus on Key Clinical Assets — Management reiterated their commitment to advancing three high-value programs: lacutamab, IPH4502, and monalizumab. CEO Jonathan Dickinson stated, "we remain focused on advancing our pipeline and delivering on these upco...
- Lacutamab Phase III Trial Initiation — Innate received FDA clearance to proceed with the TELLOMAK-3 Phase III trial for lacutamab, expected to initiate in the second half of 2026. This trial is crucial for potential accelerated approval in cutaneous T-cell ly...
- Progress of IPH4502 — IPH4502 is showing early signs of antitumor activity in heavily pretreated patients, with a favorable safety profile. Management noted, "we are starting to validate our preclinical hypothesis," indicating confidence in t...
- Monalizumab Trial Updates — The PACIFIC-9 Phase III trial for monalizumab has completed enrollment, with data expected in the second half of 2026. This trial is pivotal for assessing the drug's efficacy in non-small cell lung cancer.
Read the full Innate Pharma S.A. transcript (March 26, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Innate Pharma S.A.
Innate Pharma S.A. (IPH) is a publicly listed company in the Biotechnology industry, within the Health Care sector. It trades on ENXTPA and is based in FR. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 50 calls on record spanning February 12, 2020 to May 13, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 50 Innate Pharma S.A. earnings call transcripts on record, spanning February 12, 2020 to May 13, 2026. Based on this history, Innate Pharma S.A. reports quarterly. The most recent call on file is dated May 13, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- IPH
- Exchange
- ENXTPA
- Country
- FR
- Sector
- Health Care
- Industry
- Biotechnology
- Calls on record
- 50
- First call
- February 12, 2020
- Most recent
- May 13, 2026
- Reporting cadence
- quarterly