Innate Pharma Reports 55% Revenue Drop and €49.2M Net Loss for 2025

Innate Pharma (EPA: IPH), a France-based biopharmaceutical company specializing in immunotherapy, revealed a steep 55% year-over-year decline in revenue and other income for fiscal year 2025, according to financial results published Thursday. The sharp downturn reflects the winding down of major partnership agreements that had previously supported the company's top line.

The Paris-listed drugmaker recorded a net loss of €49.2 million for the year, nearly identical to the prior year's loss, with basic earnings per share from continuing operations at -€0.55. Total operating expenses reached €63.01 million, resulting in an operating loss of €54.008 million.

The primary driver behind the revenue decline was a significant reduction in income from collaboration and licensing agreements. Key contracts with global pharmaceutical giants AstraZeneca (NASDAQ: AZN) and Sanofi (NASDAQ: SNY) were either completed or discontinued during the period, leaving a notable gap in Innate Pharma's revenue stream. On a more positive note, operating costs fell due to lower direct research and development spending tied to clinical programs, as well as reduced personnel and consulting expenses.

The company also booked restructuring charges tied to a workforce reduction plan launched in 2025. Layoffs under this redundancy program are expected to be fully completed by the first half of 2026, as Innate Pharma works to streamline operations amid financial pressure.

Looking ahead, the company projects its current cash reserves will sustain operations only through the end of the third quarter of 2026, making near-term financing a critical priority. Subject to securing additional funding, Innate Pharma plans to initiate the TELLOMAK-3 Phase 3 clinical trial in the second half of 2026. The company also anticipates a data readout from its PACIFIC-9 Phase 3 trial during the same period, which could prove pivotal for its long-term pipeline and investor confidence.