Innate Pharma Partners with Swedish Orphan, Semiconductor Sector Gains
Innate Pharma has entered a significant agreement with Swedish Orphan Biovitrum to fund a Phase III program for Lacutamab, receiving a $75 million upfront payment. The European semiconductor market sees renewed investor interest following positive revenue reports from TSMC and ongoing industrial investments, boosting European equipment suppliers.
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Innate Pharma has secured a partnership with Swedish Orphan Biovitrum that includes a $75 million upfront payment to support the Phase III program for Lacutamab targeting cutaneous T-cell lymphoma (CTCL). The semiconductor sector is experiencing a rebound, driven by positive signals from TSMC and a major investment collaboration with Sony, leading to gains for European suppliers such as Sivers (up 14%) and Nordic Semiconductor (up over 4%).
Meanwhile, Aryzta reported disappointing results, reconsidering its strategy in the German market. Porsche Automobil faces pressure to address cost reductions and overcapacity at Volkswagen, raising concerns about potential labor disputes. Amundi and Alstom also faced downgrades, affecting investor sentiment.
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