Earnings Release • Nov 14, 2012
Earnings Release
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Innate Pharma SA (Euronext Paris: FR0010331421 – IPH), the innate immunity company developing first-in-class drugs for cancer and inflammatory diseases, announces revenue of 8.0 million euros for the first nine months of 2012, compared with 3.1 million euros for the same period in 2011. During the first nine months of 2012, this revenue resulted from Innate Pharma's collaboration and licensing agreement with Bristol-Myers Squibb, signed in July 2011.
Cash, cash equivalents and current financial instruments of the Company amounted to 32.3 million euros at September 30, 2012. Use of cash in the first quarter included a repayment of a 1.2 million euros OSEO* grant, related to the IPH21 programme, refundable in case of success, and therefore became due as a result of the licensing agreement with Bristol-Myers Squibb. The research tax credit relating to the year 2011 (3.6 million euros) was received in October 2012, whereas it is usually received during the third quarter. At September 30, 2012, the financial liabilities of the Company amounted to 4.9 million euros.
The table below shows the revenue for the first nine months of 2011 and 2012, as well as the revenue for the third quarter of the same years:
| Nine months ending September 30 |
Three months ending September 30 |
|||
|---|---|---|---|---|
| In thousands of euros | 2011 | 2012 | 2011 | 2012 |
| Revenues from collaboration and licensing agreements |
3,126 | 7,985 | 2,126 | 2,620 |
| Revenue | 3,126 | 7,985 | 2,126 | 2,620 |
During their meeting on September 27, 2012, the Supervisory Board of Innate Pharma acknowledged receipt of the notice of resignation of Alta Bio Pharma Partners II from the supervisory board. This resignation is effective as of September 30, 2012. Alta Bio Pharma Partners II was represented by Ekaterina Smirnyagina since 2011.
Gilles Brisson, Chairman of the Supervisory Board of Innate Pharma, noted: "We thank Ekaterina for her invaluable contribution to the board. The appointment of a new member will be submitted to the next Shareholders' Meeting".
* The French Innovation Agency
Innate Pharma S.A. is a biopharmaceutical company developing first-in-class immunotherapy drugs for cancer and inflammatory diseases.
The Company specializes in the development of new monoclonal antibodies targeting receptors and pathways controlling the activation of innate immunity cells. Its innovative approach has been validated by licence agreements with two major pharmaceutical companies, Novo Nordisk A/S and Bristol-Myers Squibb.
Incorporated in 1999 and listed on NYSE-Euronext in Paris in 2006, Innate Pharma is based in Marseilles, France, and had 81 employees as at September 30, 2012.
Learn more about Innate Pharma at www.innate-pharma.com.
Practical Information about Innate Pharma shares:
| ISIN code | FR0010331421 |
|---|---|
| Ticker code | IPH |
This press release contains certain forward-looking statements. Although the company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. For a discussion of risks and uncertainties which could cause the company's actual results, financial condition, performance or achievements to differ from those contained in the forward-looking statements, please refer to the Risk Factors ("Facteurs de Risque") section of the Document de Reference prospectus filed with the AMF, which is available on the AMF website (http://www.amf-france.org) or on Innate Pharma's website.
This press release and the information contained herein do not constitute an offer to sell or a solicitation of an offer to buy or subscribe to shares in Innate Pharma in any country.
For additional information, please contact:
Innate Pharma ATCG Press Laure-Hélène Mercier Director, Investor Relations Phone: +33 (0)4 30 30 30 87 Mob.: +33 (0)6 26 94 18 53 [email protected] [email protected]
Marielle Bricman
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