Innate Pharma stock rises on upcoming $50M from partner AstraZeneca, as dosing begins in lung cancer study
Roland Magnusson/iStock Editorial via Getty Images


French drugmaker Innate Pharma (NASDAQ:IPHA) said it will receive a $50M milestone payment from AstraZeneca (NASDAQ:AZN) as the British pharma giant dosed the first patient in phase 3 trial for lung cancer.
AstraZeneca is evaluating its drug durvalumab, sold as Imfinzi, in combination with Innateâs monalizumab or AstraZenecaâs oleclumab in a phase 3 trial called PACIFIC-9, to treat patients with unresectable, stage 3 non-small cell lung cancer (NSCLC) who have not progressed following definitive platinum-based concurrent chemoradiation therapy.

The purpose of the study, which is sponsored by AstraZeneca, is to determine if the addition of monalizumab or oleclumab to standard-of-care durvalumab improves outcomes for patients in this setting.
"The launch of PACIFIC-9 represents an important financial milestone for Innate, as it triggers a $50 million milestone payment that reinforces our cash position,â said Innate Pharma CEO Mondher Mahjoubi.
Earlier in the day (April 29), AstraZeneca reported its Q1 results, beating analysts' estimates.
IPHA +8.89% to $2.94 premarket April 29.
AZN -2.22% to $65.73 premarket April 29.