Innate Pharma : A US IPO in challenging conditions
>A deal which undershot our expectations - Innate Pharma closed its US IPO at the end of last week. While we initially hoped to see nearly €70m in funds raised without factoring in the over-allotment with a price in the range of € 5.87-€6.9 per share, we are somewhat disappointed with the terms granted, which could penalise the price for some time. Through this transaction, Innate raised a total of $ 79.1m (€ 71.4m gross) through the issue of 14,375 million new ...Innate Pharma S.A. is a biopharmaceutical Company developing immunotherapy drugs for cancer and inflammatory diseases. Co. specializes in the development of new monoclonal antibodies targeting receptors and pathways controlling the activation of innate immunity cells. Also, Co. has three product-candidates resulting from its research platform are being tested in clinical trials; two of these by Co.'s partners, Bristol-Myers Squibb and Novo Nordisk A/S. Co. focuses on immunopharmacology and antibody technology. Co. has a panel of molecular and cellular assays and in vivo models for assessing the pharmacodynamics, the pharmacotoxicology and efficacy of drug candidates.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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