Innate Pharma (EPA:IPH), a France-based developer of immunotherapy treatments, disclosed a 55% year-over-year reduction in revenue and other income for 2025 in its financial results released on Thursday. The company reported a net loss of €49.2 million for the year, a figure that remained broadly unchanged compared with the prior year.
Basic earnings per share from continuing operations were reported at -€0.55. On the operating side, total expenses amounted to €63.01 million while operating income was recorded at -€54.008 million.
The company attributed the pronounced decrease in revenue to a falloff in collaboration and licensing income. Key agreements with partners AstraZeneca (NASDAQ:AZN) and Sanofi (NASDAQ:SNY) were either completed or discontinued during the reporting period, reducing revenue streams tied to those partnerships.
Operating expenses declined over the year largely because of lower direct research and development expenditures associated with clinical programs and reductions in personnel and consulting costs. The company also recorded restructuring charges related to a workforce reduction executed in 2025.
Innate Pharma is carrying out layoffs under a redundancy plan that the company said will be completed in the first half of 2026. Management reported that, based on current resources, the firm's cash runway is expected to extend until the end of the third quarter of 2026.
Regarding its clinical development timeline, Innate Pharma said it plans to initiate the TELLOMAK-3 Phase 3 trial in the second half of 2026, contingent on securing financing. Separately, a data readout from the PACIFIC-9 Phase 3 trial is anticipated in the second half of 2026.
Financial snapshot
- Revenue and other income: down 55% year-over-year for 2025.
- Net loss: €49.2 million for 2025; basic EPS from continuing operations -€0.55.
- Operating expenses: €63.01 million; operating income: -€54.008 million.
Operational and pipeline notes
- Revenue decline driven by completion or discontinuation of collaboration and licensing agreements with AstraZeneca and Sanofi.
- Cost reductions from lower R&D spend on clinical programs and decreased personnel and consulting costs; restructuring charges recorded for workforce reductions.
- Planned TELLOMAK-3 Phase 3 start in H2 2026 pending financing; PACIFIC-9 Phase 3 data readout expected in H2 2026.