Innate Pharma reports H1 2026 net loss of €19.6 million amid cash decline

Innate Pharma SA reported a net loss of €19,623 thousand for the first half of 2026, compared with a net loss of €21,344 thousand a year earlier, according to the company's half-year financial report filed with the SEC. Cash, cash equivalents and financial assets totaled €21.4 million as of June 30, 2026, down from €44.8 million at the end of 2025, while financial liabilities stood at €20.2 million, including €9.4 million in non-current liabilities.¹

Revenue and other income came to €5.7 million, up from €4.9 million in the first half of 2025, driven mainly by collaboration and licensing revenue of €3.1 million and a research tax credit of €2.5 million.¹ Operating expenses fell to €24.7 million from €30.3 million, with research and development expenses declining to €16.9 million from €20.5 million, a change the company tied to the phasing of clinical trials.¹

The company disclosed a going-concern issue tied to its cash position. Based on the company's cash position as of June 30, 2026, and management's projections, the group would not have had enough financial resources to fund its planned operations for the twelve months following approval of these financial statements.¹

However, the company cited subsequent events it says address the shortfall. On August 10, 2026, the company signed a licensing and commercialization agreement with Sobi covering lacutamab, under which it is entitled to an upfront payment of $75 million upon closing, plus potential milestone payments and royalties.¹ The company said conditions for the agreement's effectiveness, including antitrust clearances and manufacturing arrangements, had been satisfied before the financial statements were approved, and management expects the $75 million payment under the agreed terms.¹ Separately, the company completed a private placement of ordinary shares on August 14, 2026, raising gross proceeds of approximately €30 million.¹ Combining the expected Sobi proceeds with the capital increase, management estimated the group has sufficient resources to fund operations until the first quarter of 2028.¹