Innate Pharma: new strategy hailed by stock market

(CercleFinance.com) - Innate Pharma shares are trading sharply higher on the Paris Bourse on Friday, the day after the clinical-stage biotech company presented a new strategic direction.


At around 12.15pm, the share price was up over 7%, while the CAC Mid & Small index was up around 0.2% at the same time.

In a press release issued last night, Innate announced the deployment of a new transformation strategy designed to accelerate its growth.

According to the biotech, this approach is to focus on the early clinical development of proprietary molecules with monotherapy potential.

In detail, the company intends to stimulate innovation through its proprietary 'Anket' platform, which produces 'NK cell engagers' capable of targeting different types of cancer.

Innate also explains that it intends to accelerate the development of antibody-drug conjugates (ADCs), differentiated and highly-targeted treatments that combine the specificity of monoclonal antibodies with the potency of cytotoxic molecules.

Finally, the company indicates that it intends to advance assets currently in late-stage development through partnerships, the idea being to entrust its therapies with the aim of maximizing their therapeutic potential and reach.

While the share price reacted favorably to these announcements, analysts at Invest Securities felt this morning that they were essentially cosmetic.

'In our opinion, nothing fundamentally changes with the strategy deployed up to now, as this announcement is probably intended to mark the resumption of leadership by Jonathan Dickinson, who recently took up his post as Chairman of the Group's Management Board on November 1, 2024', the brokerage said in a reaction note.

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