Sep 17, 2026 earnings call — Lacutamab partnership and ADC progress
Closed Sobi lacutamab deal with a 75 million upfront payment, extending cash runway through the end of the first quarter of 2028.
Revenue $0.0B (est $0.0B) · EPS $-0.24 (est $-0.29)
Key quotes
"And the TELLOMAK-3 Phase 3 has been initiated. We are targeting the first patient in the study in Q1 2027 as we work toward a filing for accelerated approval in Sezary Syndrome in 2027."
"We have observed preliminary antitumor activity with objective responses in heavily pretreated patients, including patients with urothelial cancer following prior enfortumab vedotin treatment as well as in non small cell lung cancer, head and neck cancer."
"Together, these are expected to extend our projected cash runway through the end of the first quarter of 2028."
Analyst Q&A 2
linker stability and blood toxicity
Q (Bill · Leerink Partners): Will IPH4.5 thousand's linker design avoid the high blood (heme) toxicities seen with prior ADCs?
A: They said they designed the linker to be more stable. Preclinical and nonhuman primate data suggest this stability translates to humans with very limited release of the free payload. They also noted other data groups attributed hematologic toxicity to an unstable linker.
"I mean, we have worked on the on the design of the linker, and based on what we have seen at ASCO, published by others with the with their own linker." — Yannis Morel (COO)
off-label use, pricing, Pacific 9 update
Q (Jeet Mukherjee · BTIG): Could lacutamab be used off label in first-line Sezary Syndrome? Also, could it be priced above mogamulizumab, and will Innate issue its own Pacific 9 update when AstraZeneca releases results?
A: They expect lacutamab to be listed in the NCCN guidelines after accelerated approval for Sezary Syndrome and mycosis fungoides, which would allow physicians to use it across lines and likely lead to some first-line off-label use given its benign safety profile. Pricing research with US payers showed lacutamab can be priced between $500 thousand and $650 thousand per patient per annum. For Pacific 9, they expect AstraZeneca will issue a press release and Innate will also press release and possibly hold calls after the primary endpoint data are available.
"And what we were able to establish with US payers was that we can price lacutamab between $500 thousand and $650 thousand per patient per annum." — Jonathan E. Dickinson (CEO)