Innate Pharma — Audit Report / Information 2018

Nov 15, 2018

CORRECTIVE INFORMATION REGARDING THE JUNE 2018 FINANCIAL STATEMENTS

• In the context of the preparation of the 2018 closing, the Company identified some areas of improvement in the methodology of calculation regarding revenue recognition according to IFRS 15.
• The impacts on the statement of income published for the six-month period ended on June 30, 2018 are summarized in the table below:

In k€	Published	Revised	Variance
Revenue from collaboration and licensing
agreements	16,879	16,209	(670)
Government financing for research expenditures	6,787	6,787	-
Revenue and other income	23,666	22,996	(670)
Research and development	(33,828)	(32,322)	1,506
General and administrative	(5,576)	(5,576)	-
Net operating expenses	(39,404)	(37,898)	1,506
Operating income (loss)	(15,738)	(14,902)	836
Financial result	(787)	(550)	237
Net income (loss) before tax	(16,524)	(14,452)	1,073
Income tax expense	333	333	-
Net income (loss)	(16,191)	(15,118)	(1,073)

• The impacts on the statement of financial position published for the six-month period ended on June 30, 2018 are summarized in the table below:

In k€	Published	Revised	Variance
Total current assets	122,642	122,642	-
Deferred tax asset	2,879	1,727	(1,152)
Total non-current assets	103,274	103,273	(1,152)
Total assets	225,916	224,764	(1,152)
Operational liabilities	26,235	22,934	(3,301)
Collaboration liabilities	18,309	18,309	0
Deferred revenue	21,317	38,210	16,893
Total current liabilities	67,216	80,808	(13,592)
Collaboration liabilities	22,321	22,118	(203)
Deferred revenue	38,450	27,643	(10,807)
Deferred tax liability	2,879	1,727	(1,152)
Total non-current liabilities	71,529	59,367	(12,162)
Reserves	(134,003)	(137,658)	(3,655)
Net income (loss)	(16,191)	(15,118)	(1,073)
Total shareholders' equity	(87,171)	(84,589)	(2,582)
attributable to equity holders
of the Company
Total liabilities and equity	225,916	224,764	(1,152)