Company: IPHYF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001598599-25-000042
Chunk: 164

Company: Innate Pharma SA
Filing Date: 2025-04-30
Form: 20-F
Item: Item 5
Chunk 164
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 initial public offering of our ordinary shares on Euronext and ADS on The Nasdaq Global Select Market, or Nasdaq, in 2019. The main capital increases since 1999 are described in Item 5 - B Liquidity and Capital Resources. As of December 31, 2024, the Company has also received $656.1 million (€579.1 million) in payments from its collaborators, including AstraZeneca, since 2011, excluding payments received for purchases of its equity securities by its collaborators.

The Company has significant agreements with AstraZeneca and Sanofi pursuant to which it has the right to earn milestone and royalty payments. The Company has other license agreements, pursuant to which it has acquired intellectual property and under which the Company will be required to make payments to the counterparty upon the achievement of certain milestone events and commercial sales related to its product candidates.

The Company has incurred net losses in each year since its inception except for the years ended December 31, 2016 and 2018. The Company net income (loss) was €(58.1) million, €(7.6) million and €(49.5) million for the years ended December 31, 2022, and

• continues the research and development of its product candidates;

• initiates clinical trials for, or additional preclinical development of, its product candidates;

• further develops and refines the manufacturing processes for its product candidates;

• changes or adds manufacturers or suppliers of biological materials;

• seeks regulatory and marketing authorizations for any of its product candidates that successfully complete development;

• seeks to identify and validate additional product candidates;

• acquires or licenses other product candidates, technologies or biological materials;

• makes milestone, royalty or other payments under any current or future license agreements;

• obtains, maintains, protects and enforces its intellectual property portfolio;

• secures manufacturing arrangements for commercial production;

• seeks to attract and retain new and existing skilled personnel;

• creates additional infrastructure to support its operations as a U. S. public company and incurs increased legal, accounting, investor relations and other expenses; and

• experiences delays or encounters issues with any of the above.

The Company anticipates that it will need to raise additional funding, prior to completing clinical development of any of its product candidates. Until such time that the Company can generate significant revenues from sales of its product candidates, if approved, the Company expects to finance its operating activities through a combination of milestone payments received pursuant to its strategic alliances