Shareholder Alert: Robbins LLP Announces It Is Investigating Innate Pharma S.A. (IPHA) for Misleading Shareholders

Shareholder rights law firm Robbins LLP announces it is investigating whether certain officers and directors of Innate Pharma S.A. (NASDAQ: IPHA) violated federal securities laws. Innate Pharma S.A. is a biotechnology company that discovers and develops therapeutic antibodies for the treatment of oncology indications in France and internationally.

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Innate Pharma S.A. (IPHA) Accused of Misleading Shareholders about Partnership with AstraZeneca PLC

In October 2018, Innate Pharma announced a long-term strategic partnership with AstraZeneca PLC. The deal included a $100 million in milestone payments paid to Innate Pharma at the start of the first Phase 3 clinical trial for monalizumab. Throughout 2019 and early 2020, Innate not only confirmed the $100 million payment, but also affirmed the results of the trial as being on track. On September 8, 2020, the Company announced a change to the $100 million payment. Instead of a one-time payment at the start of the first Phase 3 clinical trial, Innate would receive $50 million at the start, and an additional $50 million after the interim analysis demonstrated a pre-defined threshold of clinical activity. On this news, Innate Pharma's ADS's fell 26.6%, to open at $4.82 on September 8, 2020, continued to decline throughout the day to close at $4.45, and has yet to recover.

Contact us to learn more:
Lauren Levi
(800) 350-6003
llevi@robbinsllp.com
Shareholder Information Form

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