Innate Pharma S.A.

IPHA

Biotechnology · Healthcare

Price

$1.75

-0.03 (-1.41%)

Market Cap

$164.3M

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+12.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 79.5M (2021) → 89.4M (2025)

Innate Pharma S.A., a biotechnology company, discovers, develops, and commercializes therapeutic antibodies for the treatment of oncology indications in France and internationally. The company's products include Lacutamab (IPH4102), an anti-KIR3DL2 antibody, which is in Phase II clinical trials for the treatment of cutaneous T-cell and peripheral T-cell lymphoma, as well as in Phase II clinical trials to treat refractory sézary syndrome; Monalizumab, an immune checkpoint inhibitor that is in Pha

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-851.1% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+6.7% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$44M/ year

↓ Declining (-16% vs prior year)

>1,000% of revenue

87.0x the sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

24.9%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Runway

~4 months

$28M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

Innate Pharma S.A. has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

-889.9%

Thin — -889.9% gross margin

Operating Margin

1350.6%

Excellent — 1350.6% operating margin

ROCE

-3223.2%

Weak — -3223.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-84.8%

Shrinking sales (-84.8% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-421.0%

Burning cash (-421.0%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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