Innate Pharma shares surge 31.81% intraday after FDA clears Phase 3 trial for lacutamab in cutaneous T-cell lymphoma.

Innate Pharma surged 31.81% intraday after the FDA cleared its Phase 3 TELLOMAK 3 trial for lacutamab in cutaneous T-cell lymphomas (CTCL), a pivotal step toward potential accelerated approval for Sézary syndrome. The clearance validated the drug’s development pathway and triggered optimism about its market potential. Analyst upgrades from H.C. Wainwright (Buy) and Lucid Capital (Buy with $8 price target) further amplified investor confidence, emphasizing lacutamab’s differentiated mechanism and unmet medical need in CTCL. The company’s upcoming conference call for Q3 results and strategic updates also contributed to heightened market expectations. Despite financial challenges, the regulatory progress and analyst endorsements aligned with the stock’s sharp intraday rally, reflecting strong short-term momentum driven by clinical and strategic catalysts.