Innate Pharma shares surge 22.92% intraday after FDA clears Phase 3 trial for lacutamab in CTCL.

Innate Pharma surged 22.92% intraday following multiple positive catalysts, including FDA clearance for its Phase 3 TELLOMAK 3 trial of lacutamab in cutaneous T-cell lymphoma (CTCL), upgraded analyst ratings from H.C. Wainwright and Lucid Capital, and anticipation of strategic updates during an upcoming conference call. The FDA’s approval to advance lacutamab—a first-in-class anti-KIR3DL2 antibody—into a pivotal trial, coupled with a $8 price target from Lucid Capital and a "Buy" rating from H.C. Wainwright, signaled strong confidence in the drug’s potential for accelerated approval and market viability. These developments, alongside the company’s focus on CTCL—a $995M market—reinforced investor optimism despite underlying financial challenges, driving the intraday rally.