Novo Nordisk (IPHA) files 7.82% stake disclosure in Innate Pharma (13G/A)

Rhea-AI Filing Summary

Innate Pharma SA ownership update: Novo Nordisk A/S reports beneficial ownership of 7,333,778 ordinary shares, representing 7.82% of the class as of 12/31/2025. The filing shows sole voting and dispositive power over 7,333,778 shares.

The form is an amended Schedule 13G/A filed and signed on 03/04/2026 by Karsten Munk Knudsen, Chief Financial Officer.

Insights

Institutional Ownership Analyst

Novo Nordisk holds a 7.82% stake in Innate Pharma as of 12/31/2025.

This filing discloses a concentrated equity position of 7,333,778 ordinary shares with sole voting and dispositive authority, indicating full control over how those shares are voted and disposed. The position size is material relative to single‑holder stakes but the filing does not state acquisition timing or transaction details.

Future disclosures may report changes; the current record date is 12/31/2025, and the amendment was signed on 03/04/2026.

Securities Compliance Counsel

Amended Schedule 13G/A properly reports beneficial ownership and voting powers for a passive investor disclosure.

The filing lists the filer as Novo Nordisk A/S with citizenship Denmark and provides the amount beneficially owned (7,333,778 shares) and the 7.82% figure. It specifies sole voting and dispositive power without shared powers.

The form type is a Schedule 13G/A; the signer certified the amendment on 03/04/2026. No transaction directions or proceeds are disclosed in this excerpt.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Innate Pharma SA

(Name of Issuer)

Ordinary Shares, nominal value (euro) 0.05 per share (including ordinary shares represented by American Depositary Shares)

(Title of Class of Securities)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP Number(s):

1

Names of Reporting Persons

Novo Nordisk A/S

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DENMARK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,333,778.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,333,778.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,333,778.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.82 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Innate Pharma SA
(b)	Address of issuer's principal executive offices: 117 Avenue de Luminy, BP 30191, Marseille, France, 13009
Item 2.
(a)	Name of person filing: Novo Nordisk A/S
(b)	Address or principal business office or, if none, residence: Novo Alle 1, DK-2880, Bagsvaerd Denmark
(c)	Citizenship: Denmark
(d)	Title of class of securities: Ordinary Shares, nominal value (euro) 0.05 per share (including ordinary shares represented by American Depositary Shares)
(e)	CUSIP No.: 45781K105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 7,333,778
(b)	Percent of class: 7.82%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 7,333,778
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 7,333,778
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Novo Nordisk A/S

Signature:	/s/ Karsten Munk Knudsen
Name/Title:	Karsten Munk Knudsen, Chief Financial Officer
Date:	03/04/2026

FAQ

What stake does Novo Nordisk (IPHA) report in Innate Pharma?

Novo Nordisk reports beneficial ownership of 7,333,778 ordinary shares, equal to 7.82% of the class as of 12/31/2025. The Schedule 13G/A amendment discloses sole voting and dispositive power over those shares.

What voting authority does Novo Nordisk have over IPHA shares?

The filing states Novo Nordisk has sole power to vote 7,333,778 shares and sole dispositive power over 7,333,778 shares. The Schedule 13G/A shows zero shared voting or dispositive power.

When is the ownership position dated in the filing for IPHA?

The Schedule 13G/A lists the position as of 12/31/2025. The amendment is signed and dated on 03/04/2026 by the named signer, Karsten Munk Knudsen.

Who signed the amended Schedule 13G/A for Novo Nordisk on IPHA?

The amendment is signed by Karsten Munk Knudsen, Chief Financial Officer, who signed the form on 03/04/2026. The filing identifies Novo Nordisk A/S as the reporting entity.

Does the filing disclose any share purchases or sales by Novo Nordisk?

The Schedule 13G/A amendment discloses only beneficial ownership and voting/dispositive powers of 7,333,778 shares. It does not state any purchase or sale transactions in the provided excerpt.