GlobeNewswire Inc | Nov 30, 2020 12:00PM EST

November 30, 2020

LOS ANGELES, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (GPM) reminds investors of the upcomingDecember 22, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Innate Pharma SA (Innate or the "Company") (NASDAQ: IPHA) securities between March 10, 2020 and September 8, 2020, inclusive (the Class Period).

If you suffered a loss on your Innate investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/innate-pharma-sa/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

OnOctober 23, 2018, Innate and AstraZeneca plc ("AstraZeneca") announced an expansion of a pre-existing collaboration agreement, whereby AstraZeneca acquired 9.8% equity stake in Innate and obtained full oncology rights to monalizumab, a first-in-class humanized anti-NKG2A antibody. As part of this agreement, Innate would receive$100 millionin milestone payments at the start of the first Phase 3 clinical trial for monalizumab.

OnSeptember 8, 2020, Innate announced that it had amended its collaboration agreement with AstraZeneca. Innate "will now receive a$50 millionpayment upon AstraZeneca's dosing of the first patient in the Phase 3 trial, and a$50 millionpayment after the interim analysis demonstrates the combination meets a pre-defined threshold of clinical activity."

On this news, the Companys American Depositary Share ("ADS") price fell$1.62per share, or 26.6%, to close at$4.45per ADS onSeptember 8, 2020.

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Innate touted the results of their various Phase 2 trials as being within expectations; (2) Innate continued to reassure investors that they were eligible for the $100 million payment upon first dosing of Phase 3 trials; (3) Innate 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 (4) 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.

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If you purchasedor otherwise acquired Innate securities during the Class Period,you may move the Court no later thanDecember 22, 2020to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take noaction and remain an absent member of the Class. If you wish tolearn moreabout this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contactCharlesLinehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email toshareholders@glancylaw.com, or visit our website atwww.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

ContactsGlancy Prongay & Murray LLP, Los AngelesCharles H. Linehan, 310-201-9150 or 888-773-92241925 Century Park East, Suite 2100Los Angeles, CA 90067www.glancylaw.comshareholders@glancylaw.com