Innate Pharma up as cancer drug trial triggers $50 mln from AstraZeneca

Innate Pharma SA

29/04/2022 13:59

** U.S.-listed shares of France-based drugmaker Innate
Pharma  PH.PA   PHA.O  rise 7.7% to $2.91 premarket
    ** Co says partner AstraZeneca  AZN.L  has dosed first
patient in late-stage study testing AZN's drug, durvalumab, with
IPHA's antibody candidate monalizumab in patients with a type of
lung cancer  urn:newsml:reuters.com:*:nBw1q4ZrPa
    ** Start of dosing in trial has triggered $50 mln milestone
payment from AZN to Innate
    ** In Oct 2018, AstraZeneca obtained full oncology rights to
monalizumab by exercising its option under an agreement
initiated in 2015
    ** Financial terms of the agreement include potential cash
payments up to $1.275 bln to IPHA
    ** Stock down ~41% YTD, as of last close

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))