Innate Pharma Shares Rise after Sanofi Exercises Licensing Option
December 19 2023 - 7:28AM
Dow Jones News
By Dean Seal
Innate Pharma's American depositary receipts rose after the
company said Sanofi had exercised its option to license a natural
killer cell engager program in solid tumors from Innate's ANKET
platform.
The stock was up 14% at $2.79 in premarket trading. Shares had
fallen by a third year-to-date when the market closed Monday.
The biopharmaceutical company said early Tuesday morning that
the licensing comes pursuant to the terms of a research
collaboration and license agreement signed in December 2022.
After a research collaboration period, Sanofi will be
responsible for development, manufacturing and commercialization,
Innate said, adding that Sanofi still has the option under the
license agreement for one additional ANKET target.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
December 19, 2023 07:13 ET (12:13 GMT)
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