Innate Pharma S.A. (IPHA) Stock

About Innate Pharma S.A.

Innate Pharma S.A. is a biotechnology firm, founded in 1999 and headquartered in Marseille, France, that specializes in the discovery, development, and market introduction of therapeutic antibodies. The company primarily targets oncology indications across France and internationally, with some programs also addressing inflammatory diseases and viral infections. Its clinical-stage pipeline features several key assets: Lacutamab (IPH4102): An anti-KIR3DL2 antibody undergoing Phase II trials for cutaneous T-cell and peripheral T-cell lymphoma, and also for refractory Sézary syndrome. Monalizumab: An immune checkpoint inhibitor currently in Phase III clinical trials for various advanced solid tumors, including colorectal, lung, and head and neck cancers. Avdoralimab (IPH5401): A monoclonal antibody designed to block C5a binding to C5aR1, which is in Phase II development for COVID-19, bullous pemphigoid, chronic spontaneous urticaria, and other inflammatory conditions. IPH5201: A blocking antibody in Phase I trials, focused on the CD39 immunosuppressive pathway. IPH5301: An anti-CD73 antibody developed to enhance anti-tumor immunity by targeting the immunosuppressive adenosine pathway. IPH6101: An NKp46-based NK cell engager being evaluated for the generation of up to two bispecific NK cell engagers. Innate Pharma also maintains an active preclinical pipeline, including IPH43 (an anti-MICA/B antibody drug conjugate), an Anti-Siglec-9 antibody program, IPH65 (a proprietary tetraspecific antibody), IPH25 (a checkpoint inhibitor), and the IPH62 and IPH64 programs. The company has established strategic licensing and collaboration agreements with major industry players such as AstraZeneca, Novo Nordisk A/S, Sanofi, and Orega Biotech, alongside a co-development and license agreement with MedImmune Limited.

Innate Pharma S.A. is headquartered in FR.

Innate Pharma S.A. (IPHA) stock trades at $1.79 with a market capitalization of $168.32M. The stock is valued at a negative price-to-earnings (P/E) ratio of -2.89, reflecting a net loss over the last twelve months, a negative price-to-book of -6.70, reflecting negative shareholders' equity, price-to-sales of 53.57. Over the past 52 weeks the stock has ranged between $1.17 and $2.63, and currently trades 31.9% below its 52-week high.

On profitability, Innate Pharma S.A. generates a return on equity (ROE) of 593.93% (not meaningful, as shareholders' equity is negative), return on capital employed of -220.01%, an operating margin of -1766.67%, a net profit margin of -1633.33%.

Official website: www.innate-pharma.com

Innate Pharma S.A. by the numbers, 2016–2025

Between 2016 and 2025 Innate Pharma S.A. reported revenue of $56.0M rising to $3.0M, a change of -94.6% across 10 years. Compounded, revenue has grown -46.7% a year over five years, -62.7% over three, -76.9% over the last twelve months. Net profit fell to $-49.0M.

Operating margin went from 13.5% in 2016 to -1916.9% in 2025, a fall of 1930.4 percentage points. The most recent net margin is -1633.33%. On a trailing twelve-month basis to Dec '25, revenue is $15.0M and net profit $-99.0M.

Borrowings rose from $5.0M to $23.0M, cash on hand is $34.3M, cash from operations was $-33.0M in the latest year, positive in 1 of the last 10.

Return on equity has averaged -98.8% over five years, and was 222.7% in the most recent year.

The share price itself has compounded at —% a year over five years, -16.8% over three, -0.9% over the last year. Past price movement is history, not a forecast.

Figures are as reported and in the company's own reporting currency. They describe what has already happened and carry no implication about what follows.

Innate Pharma S.A. (IPHA) — frequently asked questions