SVB Leerink bullish on lung cancer opportunity for Innate Pharma

Innate Pharma SA

03/09/2021 13:35

** U.S.-listed shares of France-based drugmaker Innate Pharma
 IPH.PA   IPHA.O  rise 7.2% to $4.48 premarket
   ** Brokerage SVB Leerink says it is even more optimistic
about co's antibody monalizumab after recent updates from a
mid-stage trial in non-small cell lung cancer patients
    ** Upgrades IPHA to "outperform" from "market perform",
maintains PT of $7
    ** IPHA said on Thursday its partner AstraZeneca  AZN.L 
will present survival data from the trial at an industry meeting
later in the month and that it is " pleased with the continued
progress of monalizumab" (https://bit.ly/3tanbea)
   ** SVB Leerink says a positive data readout would unlock a
huge opportunity for IPHA and brokerage could raise its PT on
stock to $9
    ** However, brokerage cautions that in case of the study's
failure, its PT on IPHA would go down to $5 
   ** IPHA had gained 2.2% YTD, up to its last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))