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Innate Pharma SA (IPH) AI Stock Analysis
Innate Pharma SA
(Paris:IPH)
The overall score is driven primarily by very weak financial health, including collapsing revenue, sustained losses, negative equity, and continued cash burn, which indicate high risk despite some operational stability. Technical indicators currently show soft momentum with the stock trading below most key moving averages, offering only limited support to the profile. Valuation is constrained by loss-making operations and lack of dividends, while a positive, catalyst-rich earnings call with extended cash runway and strong partnerships provides a meaningful but insufficient offset to the underlying financial distress.
Innate Pharma SA (IPH) vs. iShares MSCI France ETF (EWQ)
- Market Cap
- EUR 141.70M
- Dividend Yield
- ―
- Average Volume (3M)
- 459.00K
- Price to Earnings (P/E)
- -2.3
- Beta (1Y)
- 0.83
- Revenue Growth
- -29.48%
- EPS Growth
- 7.91%
- Country
- France
- Employees
- 120
- Sector
- Healthcare
- Sector Strength
- 51
- Industry
- Biotechnology
Innate Pharma SA Business Overview & Revenue Model
Company Description
Innate Pharma S.A. is a biotechnology firm dedicated to the discovery, development, and commercialization of innovative antibody-based therapies, primarily for cancer indications, operating both in France and internationally. The company's pipeline i...
Innate Pharma SA Earnings Call Summary
The call was broadly positive, with significant progress across the portfolio, including the closing of the Sobi partnership, initiation of lacutamab's Phase 3 study, completion of IPH4.5 thousand dose escalation, completion of PACIFIC-9 enrollment, positive preliminary IPH4.5 thousand activity and safety observations, and a projected cash runway through the end of the first quarter of 2028. The main constraints were that IPH4.5 thousand data remain early, enrollment in its non-small cell lung cancer cohort was somewhat lower, and broader development could require additional funding.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
Innate is targeting the first patient in TELLOMAK-3 in Q1 2027, with a filing for accelerated approval in Sezary Syndrome currently planned for the second half of 2027; the company expects lacutamab to be listed in the NCCN guidelines for both Sezary Syndrome and mycosis fungoides and expects some off label usage in the first line setting. PACIFIC-9 enrollment is complete, with the Phase 3 readout expected in the second half of 2026, and IPH4.5 thousand initial Phase 1 dose escalation data are scheduled for November 18, 2026; the company expects relevant and informative safety data and response data from 11 different indications and 76 patients. The $75 million Sobi upfront payment and €30 million equity offering, representing €28 million in expected net proceeds, are expected to extend cash runway through the end of the first quarter of 2028, and the company is funded to take IPH4.5 thousand forward seamlessly into dose optimization, while broadening the program across additional tumor types would require additional funding. Pricing research established that lacutamab can be priced between $500 thousand and $650 thousand per patient per annum, and the monalizumab agreement includes up to $825 million in additional potential milestones, double digit royalties outside Europe, and 50% profit sharing in Europe.
Innate Pharma SA Financial Statement Overview
Summary
Score reflects collapsing revenue from €70M in 2020 to €2.8M in 2025, persistent deep losses, negative equity and shrinking assets, and ongoing cash burn with only modest improvement in operating cash flow.
Income Statement
25NegativeBalance Sheet
35NegativeCash Flow
30Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.04M | 2.79M | 12.62M | 51.90M | 49.64M | 12.11M |
| Gross Profit | 18.45M | 2.79M | -31.86M | 5.62M | 6.01M | -34.89M |
| EBITDA | -52.20M | -55.97M | -50.99M | -1.84M | -61.30M | -43.23M |
| Net Income | -47.46M | -49.18M | -49.47M | -7.57M | -58.10M | -52.81M |
Balance Sheet | ||||||
| Total Assets | 34.73M | 62.72M | 111.06M | 184.19M | 207.86M | 267.50M |
| Cash, Cash Equivalents and Short-Term Investments | 10.90M | 34.31M | 80.77M | 92.46M | 101.48M | 119.84M |
| Total Debt | 20.21M | 22.57M | 31.37M | 39.89M | 42.25M | 44.25M |
| Total Liabilities | 75.23M | 84.42M | 102.22M | 132.29M | 153.71M | 160.06M |
| Stockholders Equity | -40.51M | -21.70M | 8.83M | 51.90M | 54.15M | 107.44M |
Cash Flow | ||||||
| Free Cash Flow | -42.81M | -52.90M | -7.29M | -34.91M | -20.28M | -59.79M |
| Operating Cash Flow | -42.63M | -52.76M | -6.90M | -32.56M | -19.15M | -58.46M |
| Investing Cash Flow | 2.34M | 7.29M | 9.20M | 20.63M | 1.88M | -917.00K |
| Financing Cash Flow | -6.77M | 6.07M | -6.01M | -1.97M | -1.83M | 26.82M |
Innate Pharma SA Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:IPH, the sentiment is Negative. The current price of 1.19 is below the 20-day moving average (MA) of 1.28, below the 50-day MA of 1.47, and below the 200-day MA of 1.48, indicating a bearish trend. The MACD of -0.06 indicates Negative momentum. The RSI at 30.16 is Neutral, neither overbought nor oversold. The STOCH value of 22.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:IPH.
Innate Pharma SA Risk Analysis
Innate Pharma SA disclosed 89 risk factors in its most recent earnings report. Innate Pharma SA reported the most risks in the "Tech & Innovation" category.
Latest Risks Added
1 New RiskInnate Pharma SA Peers Comparison
Overall Rating
FR:NANO46Neutral
FR:TNG46Neutral
FR:ABVX44Neutral- FR:IPH43Neutral
FR:OSE43Neutral
FR:ALCLS39Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| Sector * | 51Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
| FR:NANO | 46Neutral | EUR 1.29B | -23.22 | 89.71% | ― | ― | ― |
| FR:TNG | 46Neutral | EUR 208.15M | -4.66 | -29.36% | ― | 189.81% | 38.50% |
| FR:ABVX | 44Neutral | EUR 6.66B | -16.82 | -85.88% | ― | ― | ― |
| FR:IPH | 43Neutral | EUR 136.27M | -2.34 | 152.56% | ― | -29.48% | 7.91% |
| FR:OSE | 43Neutral | EUR 43.53M | -1.08 | -96.73% | ― | -96.25% | -197.89% |
| FR:ALCLS | 39Underperform | EUR 70.88M | -1.79 | -94.14% | ― | -5.98% | -8.67% |
* Healthcare Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| FR:IPH | Innate Pharma S.A. | 1.19 | -0.37 | -23.85% | |
| FR:ABVX | Abivax SA | 79.25 | -5.85 | -6.87% | |
| FR:NANO | Nanobiotix SA | 25.54 | 8.06 | 46.11% | |
| FR:TNG | Transgene SA | 0.78 | -0.55 | -41.50% | |
| FR:OSE | OSE Immunotherapeutics | 1.83 | -3.63 | -66.45% | |
| FR:ALCLS | Cellectis SA | 1.04 | -1.87 | -64.23% |
Innate Pharma SA Corporate Events
AstraZeneca Pushes Back PACIFIC-9 Lung Cancer Trial Readout, Extending Timeline for Innate Pharma’s Monalizumab
AstraZeneca has revised the expected timeline for high-level data from the PACIFIC-9 Phase 3 trial, which tests durvalumab in combination with Innate Pharma’s partnered antibody monalizumab or AstraZeneca’s oleclumab in unresectable Stage...
Innate Pharma to Highlight Cancer Immunotherapy Pipeline at November Investor Conferences
Innate Pharma SA said members of its executive team will participate in two upcoming healthcare investor conferences in November 2026 in New York and London. The company will host a fireside chat at the Stifel Healthcare Conference, with the presenta...
Innate Pharma to Host Q3 2026 Business Update Call
Innate Pharma SA, a Marseille-based clinical-stage biotech specializing in cancer immunotherapies, is advancing a pipeline centered on antibody-drug conjugates such as lead candidate IPH4502 for solid tumors, alongside partnered late-stage drugs lacu...
Innate Pharma Secures Sobi Partnership Cash and Extends Runway as Key Oncology Trials Advance
Innate Pharma has made its strategic partnership with Sobi for lacutamab effective, unlocking an initial $75 million payment and enabling the launch of the Phase 3 TELLOMAK‑3 trial in cutaneous T‑cell lymphoma, with first patient enrollme...
Innate Pharma-Sobi Partnership Closes, Unlocks $75 Million and Phase 3 Lacutamab Trial
Innate Pharma has confirmed that its previously announced strategic partnership with Sobi has become effective, following the expiration of antitrust waiting periods and fulfillment of closing conditions. The transaction’s completion triggers a...
Innate Pharma to deliver H1 2026 business update via investor webcast
Innate Pharma SA said it will host a conference call and webcast on September 17, 2026, to present a business update for the first half of 2026 to investors and other stakeholders. The event will feature senior executives including the chief executiv...
Innate Pharma to Highlight Oncology Pipeline at H.C. Wainwright Investment Conference
Innate Pharma SA said members of its management team will participate in a fireside chat and one‑on‑one meetings at the H.C. Wainwright 28th Annual Global Investment Conference in New York from September 14 to 16, 2026. The discussion, sc...
Innate Pharma to Spotlight Oncology Pipeline at H.C. Wainwright Investor Conference
Innate Pharma SA said members of its executive team will join a fireside chat and hold one-on-one investor meetings at the H.C. Wainwright 28th Annual Global Investment Conference in New York from September 14 to 16, 2026. The company will webcast th...
Innate Pharma Schedules Investor Call as Oncology Pipeline Advances
Innate Pharma SA will hold a conference call on August 14, 2026, led by senior management including the CEO, COO, CFO and head of investor relations, with live access and replay available through its website and dedicated online links. The event unde...
Innate Pharma Raises €30 Million in Share Offering to Extend Cash Runway
Innate Pharma SA has priced a private placement of 17,647,059 new ordinary shares at €1.70 per share, raising gross proceeds of about €30 million, or €27.6 million net, through an offering to qualified and institutional investors in...
Innate Pharma launches €22.5m share placement to fund ADC pipeline and extend runway
Innate Pharma has launched a roughly €22.5 million private placement of new ordinary shares in Europe, the U.S. and other markets to qualified and institutional investors, with Stifel as sole global coordinator and BTIG as joint bookrunner. The...
Innate Pharma Secures Funding and Advances Lacutamab to Phase 3 With New CMO
Innate Pharma plans to advance its first-in-class antibody lacutamab into the TELLOMAK-3 Phase 3 confirmatory trial in cutaneous T-cell lymphoma, following its strategic partnership with Sobi. The study is intended to underpin an accelerated approval...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Sep 21, 2026