Innate Pharma S.A.
IPHA evidence brief
What we can confirm
- Market Cap:
- $165.3M
What it means
What to watch
Prepared research question
What matters most for IPHA—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · IPHA
Innate Pharma S.A. is a French biotech company developing a pipeline of antibody-based therapies for cancer and autoimmune diseases, with a near-term cash runway through Q3 2026 and heavy reliance on partnered programs with AstraZeneca and Sanofi.
Key risk: Cash runway limited to Q3 2026
Market Cap
$165.3M
Cash Runway
—
Lead Asset
—
Next Catalyst
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Tracking 5 clinical trials for Innate Pharma S.A..
Innate Pharma S.A. is a French biotech company developing a pipeline of antibody-based therapies for cancer and autoimmune diseases, with a near-term cash runway through Q3 2026 and heavy reliance on partnered programs with AstraZeneca and Sanofi.
- As of December 31, 2025, Innate Pharma had cash, cash equivalents, short-term investments and non-current financial assets of €44.8 million, sufficient to fund operations until Q3 2026 [sec · filed 2026-04-01].
- The company is prioritizing IPH4502, lacutamab, and monalizumab (partnered with AstraZeneca) as its highest-value clinical assets [sec · filed 2026-04-01].
- In December 2024, Innate entered an agreement with the Institute for Follicular Lymphoma to study IPH6501 (anti-CD20 ANKET) in follicular lymphoma [sec · filed 2026-04-01].
- The Sanofi-partnered IPH6401/SAR'514 Phase 1/2 study in multiple myeloma is being terminated early and refocused to autoimmune indications [sec · filed 2026-04-01].
- The company's near-term prospects depend heavily on AstraZeneca's successful development and commercialization of monalizumab [sec · filed 2026-04-01].
What works
- Innate has multiple partnered programs with large pharma (AstraZeneca, Sanofi) that provide development support and potential milestone payments, with aggregate future contingent payments of up to $2.8 billion if all options are exercised and milestones achieved [sec · filed 2026-04-01].
- The company has a diversified pipeline of clinical-stage candidates (monalizumab, lacutamab, IPH5201, IPH5301, IPH6501, IPH4502) targeting both hematologic and solid tumors [sec · filed 2026-04-01].
- Innate has secured a collaboration with the Institute for Follicular Lymphoma to expand the study of IPH6501 into follicular lymphoma, leveraging external expertise [sec · filed 2026-04-01].
What to weigh
- Innate has very limited commercial experience (only Lumoxiti, which ended in December 2020) and no current product revenue from its own pipeline [sec · filed 2026-04-01].
- The company's cash runway is only through Q3 2026, and it will need additional financing to complete development and commercialization of its candidates [sec · filed 2026-04-01].
- Most product candidates are in early stages of development, and biopharmaceutical development involves high uncertainty; promising early results do not guarantee eventual approval [sec · filed 2026-04-01].
- The company is heavily dependent on collaborators (AstraZeneca, Sanofi) for clinical development and commercialization of key assets, and delays or failures by partners could materially affect Innate [sec · filed 2026-04-01].
From the filings
Quoted directly from source documents.
Cash position and runway
“As of December 31, 2025, the Company had cash, cash equivalents, short-term investments and non-current financial assets of €44.8 million. The Company believes its cash, cash equivalents, short-term investments and non-current financial assets, together with its cash flow from operations, will be sufficient to fund its operations until third quarter 2026.”
SEC filings · April 1, 2026
Prioritization of clinical assets
“In September 2025, Innate Pharma announced plans to prioritize its investment on what it believes are its highest-value clinical assets, IPH4502, lacutamab, and monalizumab (partnered with AstraZeneca).”
SEC filings · April 1, 2026
IPH6501 collaboration with IFLI
“In December 2024, the Company has entered into an agreement to clinically study the potential of IPH6501, Innate's anti-CD20 ANKET ® in follicular lymphoma (FL) with the Institute for Follicular Lymphoma (IFLI)”
SEC filings · April 1, 2026
Termination of IPH6401/SAR'514 multiple myeloma study
“The continued Sanofi-led Phase 1/2 study of IPH6401/SAR'514 for the treatment of patients with relapsed or refractory multiple myeloma will be terminated early and will now be refocused to pursue development in autoimmune indications.”
SEC filings · April 1, 2026
Risks & what to watch (4)›
Key risks
- Cash runway limited to Q3 2026 — Cash of €44.8M as of Dec 2025 only funds operations through Q3 2026; additional financing needed [sec · filed 2026-04-01].
- Dependence on partner success — Near-term prospects depend heavily on AstraZeneca's development/commercialization of monalizumab [sec · filed 2026-04-01].
- Early-stage pipeline uncertainty — Most candidates are in early phases; biopharmaceutical development has high failure risk [sec · filed 2026-04-01].
- No current product revenue — Aside from Lumoxiti (ended 2020), Innate has no commercial product revenue [sec · filed 2026-04-01].
What to watch
- Progress of monalizumab development and commercialization by AstraZeneca [sec · filed 2026-04-01].
- Enrollment and data from the Phase 1/2 trial of IPH6501 in follicular lymphoma [sec · filed 2026-04-01].
- Refocusing of IPH6401/SAR'514 into autoimmune indications and Sanofi's commitment [sec · filed 2026-04-01].
- Innate's ability to secure additional financing before Q3 2026 cash runway ends [sec · filed 2026-04-01].
Sources: SEC filings · Generated September 27, 2026 · How we verify sources →
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Evidence & data
Regulatory
Financials
Short Interest
as of May 21, 2026- % of float
- 0.1%
- Days to cover
- 3.2
- Shares short
- 90,515
- Daily short volume (Aug 7, 2026)
- 19.0%
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
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Frequently asked questions
What is the AI investment thesis for Innate Pharma S.A.?
Innate Pharma S.A. is a French biotech company developing a pipeline of antibody-based therapies for cancer and autoimmune diseases, with a near-term cash runway through Q3 2026 and heavy reliance on partnered programs with AstraZeneca and Sanofi.
Who is the CEO of Innate Pharma S.A.?
Mr. Jonathan E. Dickinson B.Sc., M.B.A. is the chief executive officer of Innate Pharma S.A. (IPHA).
Where is Innate Pharma S.A. headquartered?
Innate Pharma S.A. (IPHA) is headquartered in Marseille, France.
What therapeutic areas does Innate Pharma S.A. focus on?
Innate Pharma S.A. develops therapies across Oncology, Dermatology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.