Lawsuit filed for Investors in shares of Innate Pharma S.A. (NASDAQ: IPHA)

An investor, who purchased shares of Innate Pharma S.A. (NASDAQ: IPHA), filed a lawsuit over alleged violations of Federal Securities Laws by Innate Pharma S.A..

Investors who purchased shares of Innate Pharma S.A. (NASDAQ: IPHA) have certain options and for certain investors are short and strict deadlines running. Deadline: December 22, 2020. NASDAQ: IPHA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

France based Innate Pharma S.A., a clinical-stage biotechnology company, discovers and develops therapeutic antibodies for the treatment of cancer in France and internationally. On October 23, 2018, Innate Pharma S.A announced its long-term strategic partnership with AstraZeneca, which in part would include a payment to Innate Pharma S.A of $100 million in milestone payments at the start of the first Phase 3 clinical trial for monalizumab. Throughout 2019 and early 2020, Innate Pharma S.A touted the $100 million payment as a done-deal. Innate Pharma S.A additionally touted the results of the monalizumab tests as being on track.
However, on September 8, 2020, Innate Pharma S.A suddenly and without prior notice announced a change to the $100 million deal. Instead of a one-time payment of $100 million at the start of the first Phase 3 clinical trial, Innate Pharma S.A would receive $50 million at the start, and an additional $50 million after the interim analysis demonstrated a pre-defined threshold of clinical activity.

Shares of Innate Pharma S.A. (NASDAQ: IPHA) declined to as low as $3.55 per share on September 24, 2020.

The plaintiff claims that between March 10, 2020 and September 8, 2020, the defendants made false and/or misleading statements and/or failed to disclose that Innate Pharma S.A. touted the results of their various Phase 2 trials as being within expectations, that Innate Pharma S.A. continued to reassure investors that they were eligible for the $100 million payment upon first dosing of Phase 3 trials, that Innate Pharma S.A. failed to timely disclose their renegotiations with AstraZeneca to split the $100 million payment into two $50 million payments, to be partially contingent on performance during the Phase 3 trials, and that as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Innate Pharma S.A. (NASDAQ: IPHA) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.