It is alleged in the complaint that throughout the Class Period, Innate made misleading and/or false statements and/or failed to disclose that: (1) Innate presented the results of their various Phase 2 trials as having been within expectations; (2) Innate continued to reassure investors of their eligibility, upon first dosing of Phase 3 trials, for the $100 million payment; (3) Innate failed to timely disclose their renegotiations with AstraZeneca aimed at splitting the $100 million payment into two $50 million payments, which would be partially contingent on performance during the Phase 3 trials; and (4) as a result, Innate’s statements about its operations, business, and prospects, were materially misleading and false and/or lacked a reasonable basis at all relevant times.

Innate Pharma, S.A.

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