INNATE PHARMA (EPA:IPH) Innate Pharma (Euronext Paris: FR0010331421 – IPH) announces its turnover for the first quarter of 2010 and updates on its cash situation

Transparency directive : regulatory news

05/05/2010 18:28

PRESS RELEASE

INNATE PHARMA ANNOUNCES ITS TURNOVER FOR THE FIRST QUARTER OF 2010 AND UPDATES
ON ITS CASH SITUATION

Marseilles, France, May 5, 2010

Innate Pharma (the "Company" - Euronext Paris: FR0010331421 - IPH) announces a
turnover of 0.1 million euros (105 thousand euros) for the first quarter of
2010, compared with 2.5 million euros (2,488 thousand euros) for the same period
in 2009.

Before reaching the marketing stage of its products, turnover of the Company is
composed mostly by revenue from collaboration and licensing agreements, and
notably from payments received for the achievement of pre-specified milestones
in the development of drugcandidates.

Therefore, its turnover is not recurring and may show substantial variations
from one period to another.

Innate Pharma's turnover for the periods under review comes mostly from
collaboration and licensing agreements with Novo Nordisk A/S.

Government funding for research expenditures, which comprises research tax
credit, is not included in the turnover but is part of the Company's operating
revenue, only released with first half and full year results.

Cash, cash equivalents and current financial instruments and financial
liabilities:

Cash, cash equivalents and current financial instruments of the Company amounted
to 44.8 million euros as at March 31, 2010.

As at the same date, the financial liabilities of the Company amounted 8.1
million euros, including 4.6 million euros related to the twelve-year
lease-financing agreement on the Company's new premises, 2.5 million euros
related to Oséo* grants (refundable only after 2012) and 1.0 millions euros for
other lease-financing agreements.

In April 2010, the Company has requested the immediate refund of its research
tax credit for 2009 amounting 3.8 million euros.

* The French Innovation Agency

About Innate Pharma:

Innate Pharma S.A. is a clinical-stage biopharmaceutical company developing
first-in-class immunotherapy drugs for cancer and other severe diseases. The
Company was incorporated in 1999 and listed on NYSE-Euronext in Paris in 2006.
The Company has two drug candidates currently in Phase II clinical trials. Two
of its preclinical programs are out-licensed to Novo Nordisk A/S.

   Innate Pharma is based in Marseilles, France, and had 79 employees as at
                               March 31, 2010.

Learn more about Innate-Pharma at www.innate-pharma.com.

Practical Information about Innate Pharma shares:

ISIN code    FR0010331421
Ticker code  IPH

Disclaimer:
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                       Alize Public Relations
Laure-Hélène Mercier                Caroline Carmagnol
Director, Investor Relations        Phone: +33 (0)1 41 22 07 31
Phone: +33 (0)4 30 30 30 87         Mobile: +33 (0)6 64 18 99 59
investors@innate-pharma.com         caroline@alizerp.com

IPH_turnover 1Q 2010

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05/04/2024 09:34

INNATE PHARMA (EPA:IPH) Innate Pharma (Euronext Paris: FR0010331421 – IPH) announces its turnover for the first quarter of 2010 and updates on its cash situation

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