Company: IPHYF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001598599-25-000042
Chunk: 336

Company: Innate Pharma SA
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 336
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 intangible assets in 2022. Without any new event to be considered since then, there are therefore no longer any critical assumptions that could call into question the recoverable amount of the asset.

3)Management of financial risks and fair value

The principal financial instruments held by the Company are cash, cash equivalents and marketable securities. The purpose of holding these instruments is to finance the ongoing business activities of the Company. It is not the Company’s policy to invest in financial instruments for speculative purposes. The Company does not utilize derivatives.

The principal risks to which the Company is exposed are liquidity risk, foreign currency exchange risk, interest rate risk and credit risk.

Liquidity risk

The Company’s cash management is performed by the Finance department, in charge of monitoring the day-to-day financing and the short-term forecast and enabling the Company to face its financial commitments by maintaining an amount of available cash consistent with the maturities of its liabilities. As of December 31, 2024, cash, cash equivalents and short-term investments were € 80,770

The company's assets are fairly split between top-rated banks (S& P A+ rating).

The main characteristics of the financial instruments owned by the Company (including liquidity) are presented in Note 4.

Foreign currency exchange risk

The Company is exposed to foreign exchange risk inherent in certain subcontracting activities relating to its operations in the United States, which have been invoiced in U. S. dollars. The Company does not currently have recurring revenues in euros, dollars or in any other currency.

The revenue denominated in U. S. dollars has represented approximately 92 29 52 50 43 35

F-34

2024, respectively. In order to cover this risk, the Company kept in U. S. dollars a part of the consideration received from AstraZeneca in June 2015, January 2019 and December 2020. The Company entirely kept the U. S dollars portion of the proceeds received from our Global Offering in October 2019.

The Company’s foreign exchange policy does not include the use of hedging instruments in its current operations.

Interest rate risk

The Company has very low exposure to interest rate risk. Such exposure primarily involves money market funds and time deposit accounts. Changes in interest rates have a direct impact on the rate of return on these investments and the cash flows generated. The Company has no credit facilities. The repayment flows of the borrowings subscribed in 2017 and the two

Credit risk

The credit