Shares of Innate Pharma SA ADR
IPHA,
rallied about 35% in premarket trading on Monday after the company said Sanofi
SNY,
licensed its natural killer [NK] cell engager program as part of an already established collaboration between the two companies. “We are exploring the potential of NK cells for cancer immunotherapy, a key pillar for our oncology strategy,” Valeria Fantin, Sanofi’s global head of oncology research, said in a news release. Sanofi will pay Innate about $26.5 million upfront, with regulatory milestones worth up to about $1.4 billion. Innate’s stock has declined 58.3% year-to-date, while the broader S&P 500
SPX,
is down 19.1%.
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