Company: IPHYF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001598599-25-000042
Chunk: 189

Company: Innate Pharma SA
Filing Date: 2025-04-30
Form: 20-F
Item: Item 5
Chunk 189
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 2023, as compared to €22.4 million for the year ended December 31, 2022. General and administrative expenses represented a total of 24.6% and 30.3% of our total operating expenses before impairment for the years ended December 31, 2023 and 2022, respectively.

The table below presents our general and administrative expenses by nature for the years ended December 31, 2022 and 2023:

                                                           Year ended December 31,                  
                                                           2022                               2023  
                                                           (in thousands)                           
 ────────────────────────────────────────────────────────────────────────────────────────────────────
  Personnel expenses (including share based payments)      (10,229)                        (8,842)  
  Non scientific advisory and consulting                   (4,244)                         (2,906)  
  Other expenses (1)                                       (7,963)                         (6,540)  
  Total general and administrative                         € (22,436)                   € (18,288)  

(1) Other expenses are related to intellectual property, maintenance costs for laboratory equipment and our headquarters, depreciation and amortization and other general and administrative expenses.

Personnel expenses, which includes the compensation paid to our employees and consultants, decreased by €1.4 million, or 13.6%, to €8.8 million for the year ended December 31, 2023, as compared to personnel expenses of €10.2 million for the year ended December 31, 2022. This decrease mainly results from a decrease in wages of€1.2 million as well as a decrease of €0.2 million in share-based payment expenses mainly explained by the decrease of employees. As of December 31, 2023, we had 39 employees, including Leadership Team members, in general and administrative functions, as compared to 55 as of December 31, 2022.

Non-scientific advisory and consulting expenses mostly consist of auditing, accounting, legal and hiring services. These expenses decreased by €1.3 million, or 31.5%, to €2.9 million for the year ended December 31, 2023, as compared to an amount of €4.2 million for the year ended December 31, 2022. This decrease mainly results from operating efficiency measures, which led to a reduction in the number of new hires, and use of external communication and consulting services.

Other general and administrative expenses relate to intellectual