On November 4, 2015 Innate Pharma SA (the "Company" – Euronext Paris: FR0010331421 – IPH) reported its revenues and cash position for the first nine months of 2015 (Press release, Innate Pharma, NOV 4, 2015, View Source [SID:1234507967]). Cash, cash equivalents and financial instruments of the Company amounted to €269.6 million at September 30, 2015. At the same date, its financial liabilities amounted to €3.9 million (lease-financing of its premises).
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Revenues for the first nine months of 2015 amounted to €13.1 million (€1.0 million for the same period in 2014).
This revenue results from Innate Pharma’s collaboration and licensing agreement with Bristol-Myers Squibb and co-development and commercialization agreement with AstraZeneca:
€5.5 million from the agreement with Bristol-Myers Squibb including a €4.4 million milestone payment as well as €0.7 million from the recognition over the period of the upfront payment received in July 2011;
€7.6 million resulting from the agreement with AstraZeneca, corresponding to the recognition over the period of the initial payment received in April 2015.
Revenue for the first nine months of 2014 mainly resulted from the recognition over the period of the upfront payment received in 2011 from Bristol-Myers Squibb (€0.6 million).
Business update:
During the period, clinical and research discovery activities moved forward as anticipated. Regarding Innate’s three most advanced programs:
Lirilumab: a first patient was dosed in the Phase II trial of lirilumab in combination with rituximab in patients with relapsed/refractory or high-risk untreated Chronic Lymphocytic Leukemia, triggering a milestone payment from Bristol-Myers Squibb;
IPH2201: a first patient was treated in the Phase I/II trial in ovarian cancer and the Phase I/II trial in combination with ibrutinib in patients with relapsed or refractory chronic lymphocytic leukemia started;
IPH4102: the rationale of the program and the Phase I design were presented at the cutaneous lymphoma task force meeting of the EORTC as well as during a KOL event organized in New-York. The enrolment of the first patient is expected in the coming weeks.