Innate Pharma S.A.

Ladies and gentlemen, thank you for joining us and welcome to the Innate Pharma Full Year 2025 Earnings Call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please raise your hand. If you have dialled into today's call, please press star 9 to raise your hand and star 6 to unmute. I will now hand the conference over to Stephanie Kornan, Vice President of Investor Relations, Communications and Commercial Strategy at Innate Pharma. Please, Stephanie, go ahead.

Thank you. Good morning and good afternoon everyone and thank you for joining us for Innate Pharma's full year 2025 business update and financial results conference call. The press release and today's presentation are available on the investor relations section of our website. Before we begin, I would like to remind everyone that today's presentation includes forward-looking statements based on current expectations. These statements involve risks and uncertainties that could cause actual results to differ materially. I will briefly cover today's agenda. Our CEO, Jonathan Dickinson, will begin with a strategic overview and outlook. We will then share updates on our three priority programs, L'Aquitamab, IPH4502, and Monalizumab, as well as IPH5201 in partnership with AstraZeneca. Speakers will be our CMO Sonia Quarantino, our COO Yanis Morel, and I. Frédéric Lombard, CFO, will comment our financial results. Jonathan will return with upcoming catalysts and closing remarks before we open the call for Q&A. With that, I'll now hand it over to Jonathan.

Thank you, Stephanie. Good morning to those joining from the US and good afternoon to our European audience. Turning to slide five, Innate Pharma is a focused oncology company with a clear ambition to deliver high value, differentiated therapies for patients with significant unmet medical need. Our strength lies in our deep expertise in antibody engineering and our ability to translate this into innovative therapeutic approaches, particularly in immuno-oncology and antibody drug conjugates. Over the years, we have built a pipeline of highly differentiated assets built on targets we believe have high potential to deliver meaningful clinical benefits. Today, we're focused on advancing these assets through late stage development, combining smart, agile execution with a clear line of sight to key clinical and regulatory milestones. Turning to slide six. Over the past year, we have taken important steps to deliver on our strategic priorities with an execution-driven organization. As we announced previously, we made the decision to prioritize investment on what we believe are our three highest value clinical assets, IPH4502, Lacutamab, and Monolizumab. This strategic focus allows us to concentrate our resources where we see the greatest potential to generate clinical impact and long-term value. In parallel, we continue to leverage our internal expertise and platform capabilities to advance the next generation of ADCs. At the same time, we have streamlined the organization to ensure we are fit for purpose with a more agile structure that supports efficient decision-making and disciplined capital allocation. As previously communicated, we implemented a redundancy plan which is expected to be completed by the end of April. Turning to slide seven. We continue to execute against our strategy with discipline across our core programs and are pleased with the strong progress we are seeing. First, as you remember, we received the FDA clearance to proceed with the TELEMAP3 phase three trial with lacutamab in CTCL. And we expect to be able to initiate it in the second half of 2026. In parallel, We are actively advancing discussions with ongoing negotiations on several fronts, including potential farmer partnerships and royalty-based structures. We believe these approaches provide a disciplined path forward to support late-stage development while preserving shareholder value. Second, we are advancing IPH 4502, our novel Nectin-4 ADC, where we see the potential to deliver a differentiated profile and address significant unmet needs across multiple tumor types. IPH4502 is progressing rapidly with early signs of anti-tumor activity in heavily pretreated patients, including in urophilial cancer previously treated with EV. and a favorable safety profile seen to date. We are starting to validate our preclinical hypothesis, which supports a differentiated profile versus MMAE-based approaches. We are currently enriching cohorts at pharmacologically active dose levels in urophilic cancer post-EV and selected additional tumor types and are excited by the progress we are seeing today. And third, monolizumab in partnership with AstraZeneca represents an important late stage asset with the Pacific 9 phase three trial data readout expected in the second half of 2026. Across these programs, we remain focused on driving value, prioritizing key milestones and ensuring that we are well positioned to deliver multiple catalysts over the near and medium term. With that, I will now hand it over to Sonia.