Company: IPHYF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001598599-25-000042
Chunk: 170

Company: Innate Pharma SA
Filing Date: 2025-04-30
Form: 20-F
Item: Item 5
Chunk 170
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 financial statements, which was related to the splitting of certain manufacturing costs. As part of the Termination and Transition Agreement, Innate and AstraZeneca agreed to split these manufacturing costs, and Innate paid $6.2 million (€5.9 million) to AstraZeneca on April 30, 2022.

As a consequence of the termination of the Lumoxiti Agreement, the Lumoxiti activity (including sales) is presented in the consolidated income statement and the notes to the consolidated financial statements as a discontinued operation for the 2024, 2023 and 2022 financial years in accordance with IFRS5 "non-current assets held for sale and discontinued operations." Therefore, since December 31, 2020 the income statement and subsequent years have been prepared with the Lumoxiti activity (including sales) as a discontinued operation in accordance with the same IFRS standard. The Lumoxiti activity has not had an impact on the consolidated income statement since 2022.

Impairment of intangible assets

The Group assesses at the end of each reporting period whether there is an indication that intangible assets, property and equipment may be impaired. If any indication exists, the Group estimates the recoverable amount of the related asset.

Whether or not there is any indication of impairment, intangible assets not yet available for use are tested for impairment annually by comparing their carrying amount with their recoverable amount.

Pursuant to IAS 36 - Impairment of Assets, criteria for assessing indication of loss in value may notably include performance levels lower than forecast, a significant change in market data or the regulatory environment, or obsolescence or physical damage of the asset not included in the amortization/depreciation schedule. The recognition of an impairment loss alters the amortizable/depreciable amount and potentially, the amortization/depreciation schedule of the relevant asset.

As of December 31, 2022, impairment of intangible assets consisted of the full depreciation of avdoralimab rights for an amount of €41.0 million, following the Company's decision to stop avdoralimab development in bullous phemphigoid ("BP") indication in inflammation following a decision taken by a sponsor to stop the Phase 2 clinical trial in said indication during the fourth quarter of 2022.

A. Operating Results

Comparisons for the years ended December 31, 2023 and 2024

The following table sets forth a summary of the Company's consolidated statements