Company: IPHYF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001598599-25-000042
Chunk: 178

Company: Innate Pharma SA
Filing Date: 2025-04-30
Form: 20-F
Item: Item 5
Chunk 178
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 by €1.9 million, or 6.2%, to €28.3 million for the year ended December 31, 2024, as compared to direct research and development expenses of €30.2 million for the year ended December 31, 2023. This decrease is mainly due to a €2.3 million increase in expenses related to preclinical development programs relating notably to the ADC field, partly offset by a €4.2 million decrease in expenses related to the Company's clinical programs. This decrease in clinical programs expenses mainly results from a €0.7 million decrease in expenses relating to the monalizumab program and a €3.3 million decrease in expenses relating to the lacutamab program, partly offset by a €1.7 million increase in expenses related to the growth in IPH5201 phase 2 trials patient recruitment. In addition, In addition, IPH6501 moved from pre-clinical to Phase 1 clinical development in June 24, with the first patient dosed. Costs decreased by € 1.9 million due to lower research and development expenses, partially offset by expenses related to the commencement of clinical trial.

As of December 31, 2024, the collaboration liabilities relating to monalizumab and the agreements signed with AstraZeneca in April 2015, October 2018 and September 2020 amounted to €48.6 million, as compared to collaborations liabilities of €52.7 million as of December 31, 2023. This decrease of €4.1

million mainly results from (i) net repayment of €7.8 million during year 2024 to AstraZeneca linked to the Monalizumab cofinancing program, including phase 3 trial INTERLINK-1 launched in October 2020 and PACIFIC-9 launched in April 2022, and (ii) the increase of the collaboration commitment ("collaboration liabilities" in the consolidated statements of financial position) for an amount of €3.6 million linked to the Euro-dollar parity exchange rate variation.

Personnel and other expenses allocated to research and development decreased by €2.2 million, or 8.4%, to €23.7 million for the year ended December 31, 2024, as compared to an amount of €25.8 million for the year ended December 31, 2023. This decrease is due to (i) decrease of €2.8 million in