Innate Pharma reports H1 2026 results, confirms Sobi deal launch and cash runway into 2028
Sobi partnership closed and TELLOMAK-3 is starting as Innate reports €21.4 million in cash and a runway extended to the end of Q1 2028.
Innate Pharma reported its first-half 2026 financial results on September 17, 2026, updating investors on a quarter marked by the completed Sobi partnership and progress across its pipeline.
The company confirmed that on September 16, it announced closing of the transaction under the partnership agreement with Sobi, following expiration of antitrust waiting periods and completion of other conditions, triggering a $75 million upfront payment and marking the start of the TELLOMAK-3 confirmatory Phase 3 study, with first patient enrollment targeted for the first quarter of 2027.1 Beyond the upfront payment, Innate is eligible for up to a further $40 million tied to near-term Sézary syndrome development milestones, plus up to $465 million connected to Sobi's option to assume full development rights and to future regulatory and commercial milestones, along with tiered double-digit royalties on net sales.1
On the ADC program, Innate said that in July 2026 it completed dose-escalation and backfill enrollment in the ongoing Phase 1 study of IPH4502, with 76 patients enrolled across multiple tumor types known to express Nectin-4.1 The company reported preliminary anti-tumor activity in heavily pretreated patients, including objective responses in urothelial cancer following prior enfortumab vedotin as well as in NSCLC and HNSCC, alongside a favorable safety profile with limited hematological toxicity.1 Initial data from that dose-escalation cohort are scheduled for presentation at a scientific meeting on November 18, 2026, per the release.
For monalizumab, partnered with AstraZeneca, the AstraZeneca-sponsored Phase 3 PACIFIC-9 trial testing durvalumab combined with monalizumab or oleclumab in unresectable Stage III NSCLC has completed enrollment, with a data readout expected in the second half of 2026.1
On financing, Innate completed a private placement on August 18, 2026, issuing 17,647,059 new ordinary shares for gross proceeds of about €30 million.1 Cash, short-term investments and financial assets stood at €21.4 million as of June 30, 2026, down from €44.8 million at the end of 2025.1 Combined with the $75 million Sobi payment, the private placement proceeds are expected to extend the company's cash runway through the end of the first quarter of 2028.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.