Innate Pharma SA (the “Company”), a biopharmaceutical company developing first-in-class drugs targeting the innate immune system, announces today its financial results for 2007. The key elements are as follows:
The growth in operating revenue (14.3 million euros for 2007 vs. 8.5 million euros for 2006, related to the strategic collaboration with Novo Nordisk A/S as well as an increase in research tax credit) enabled the Company to control its cash burn rate;
Research and development expenses amounted to 19.3 million euros in 2007 vs. 12.6 million euros in 2006 (+53%). This includes 8.7 million euros in clinical costs, compared with 5.1 million euros in 2006;
By industry standards, the Company has a strong balance sheet situation, with 50.8 million in cash and cash equivalents and 3.6 million euros in indebtedness.
ALIZE RP Caroline CARMAGNOL +33 6 64 18 99 59 caroline@alizerp.com
