EarningsQ2 2026 Earnings Report
IPHYF Q2 2026 EPS Results
Actual EPS-$0.24
Consensus EPS-$0.18
Beat/MissMissed by -$0.06
One Year Ago EPS-$0.28
IPHYF Q2 2026 Revenue Results
Actual Revenue$3.54M
Expected Revenue$9.04M
Beat/MissMissed by -$5.49M
YoY Revenue Growth+86.42%
Earnings Announcement Details
QuarterQ2 2026
Date09/17/2026
TimeBefore Open
Conference CallThursday, September 17, 2026
IPHYF Upcoming Earnings
Innate Pharma SA's next earnings date is estimated for March 25, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
IPHYF Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
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.Company Guidance
Lacutamab Partnership Closed and Phase 3 Initiated
The strategic partnership with Sobi to advance lacutamab in T-cell lymphoma became effective following deal closing. Innate initiated the TELLOMAK-3 Phase 3 study, with the first patient expected in the first quarter of 2027.
Lacutamab Regulatory Pathway and Potential Approval Filing
Innate has FDA clearance to proceed with TELLOMAK-3, which includes a confirmatory cohort in Sezary Syndrome and a registrational cohort in mycosis fungoides. Existing Phase 2 TELLOMAK data are intended to support a planned accelerated approval filing in Sezary Syndrome in the second half of 2027.
Lacutamab Regulatory Designations
Lacutamab has received breakthrough therapy designation and fast track designation from the FDA, PRIME designation from the EMA, and orphan drug status in both the United States and Europe.
Lacutamab Partnership Economics
The Sobi agreement includes a $75 million upfront payment, up to $40 million in near-term milestones connected to Sezary Syndrome, and up to an additional $465 million related to Sobi's option to obtain full development rights and future regulatory and commercial milestones. The agreement also includes tiered double-digit royalties on future net sales.
IPH4.5 thousand Phase 1 Progress and Preliminary Activity
IPH4.5 thousand completed Phase 1 dose escalation and cohort enrichment enrollment in July. Preliminary antitumor activity, including objective responses, was observed in heavily pretreated patients with urothelial cancer following prior enfortumab vedotin treatment, non-small cell lung cancer, and head and neck cancer.
IPH4.5 thousand Safety Profile
A favorable safety profile has been observed to date, including limited hematological toxicity. Management stated that the stable linker appears to have translated from preclinical models into the human setting, leading to very limited release of free payload.
Upcoming IPH4.5 thousand Data Presentation
Innate expects to present initial Phase 1 dose-escalation data at the EORTC-NCI-AACR Symposium on November 18, 2026. The dataset is expected to include relevant and informative safety data and response data from 76 patients across 11 indications, which will inform subsequent development steps.
Monalizumab Phase 3 Enrollment Completed
Enrollment has been completed in the PACIFIC-9 randomized Phase 3 study of monalizumab in unresectable Stage III non-small cell lung cancer. The study enrolled 1.05 thousand patients and compares nivolumab plus oliclumab, durvalumab plus monalizumab, and durvalumab plus placebo, with progression-free survival as the primary endpoint.
Monalizumab Readout Expected in Second Half of 2026
Innate and AstraZeneca continue to expect the PACIFIC-9 Phase 3 readout in the second half of 2026. AstraZeneca is expected to issue a press release when results are available, and Innate also expects to issue a press release and potentially hold calls following availability of the primary endpoint data.
Monalizumab Partnership Value
Under the AstraZeneca partnership, Innate has received $450 million to date. The agreement includes additional potential milestones of up to $825 million, double-digit royalties outside Europe, and 50% profit sharing in Europe.
Expanded Next-Generation ADC Platform
Beyond IPH4.5 thousand, Innate is building a portfolio of next-generation ADC candidates using its antibody discovery, engineering, and linker capabilities. The platform focuses on dual-targeted bispecific ADCs, bispecific ADCs with enhanced internalization for antigen-low tumors, and dual-payload ADCs using complementary mechanisms of action to overcome resistance.
Strengthened Financial Position and Extended Cash Runway
The $75 million Sobi upfront payment and €30 million equity financing strengthened Innate's financial position. As of June 30, 2026, cash equivalents and financial assets were €21.4 million before including the Sobi payment and equity proceeds. The equity offering generated €30 million in gross proceeds and €28 million in expected net proceeds, and together the proceeds are expected to extend the projected cash runway through the end of the first quarter of 2028.
Funding for Continued IPH4.5 thousand Development
Management stated that the equity raise was intended to allow Innate to progress seamlessly into the next steps for IPH4.5 thousand, including dose optimization. The proceeds will also support advancement of the preclinical ADC portfolio and general corporate purposes.
Potential Lacutamab Pricing and Broader Use
US pricing research conducted by ZS Associates indicated that lacutamab could be priced between $500 thousand and $650 thousand per patient per annum. Management expects potential NCCN guideline listing to leave physicians open to use across different lines of therapy and expects some off-label first-line use and use in mycosis fungoides.
Multiple Near-Term Catalysts
Management highlighted three important near-term catalysts: continued progress toward first-patient enrollment in TELLOMAK-3 in the first quarter of 2027 and a planned accelerated approval filing in the second half of 2027; initial IPH4.5 thousand Phase 1 dose-escalation data on November 18, 2026; and the PACIFIC-9 Phase 3 readout in the second half of 2026.
IPHYF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed