PR Newswire/Les Echos/
INNATE PHARMA ANNOUNCES REVENUE FOR THE FIRST NINE MONTHS OF 2012 AND UPDATES
ON ITS CASH POSITION
* Revenue of 8.0 million euros
* Cash position as at September 30, 2012 of 32.3 million euros
* Change to the supervisory board
Marseilles, France, November 14, 2012
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 Three months ending
September 30 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
About Innate Pharma:
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 Marielle Bricman
Director, Investor Relations
Phone: +33 (0)4 30 30 30 87 Mob.: +33 (0)6 26 94 18 53
IPH_Revenue 9m 2012
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-0- Nov/14/2012 11:33 GMT
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