On August 8, 2024, HOOKIPA Pharma Inc. reported its financial results for the second quarter of 2024 and provided updates on recent business highlights. The company announced positive clinical and regulatory progress for its lead product candidate, eseba-vec (formerly HB-200), and is on track to initiate the Phase 2/3 AVALON-1 study in Q4 2024. HOOKIPA also reported alignment with the FDA for the AVALON-1 trial design and protocol, and the EMA granted PRIME designation for eseba-vec. Additionally, the company received FDA clearance for an IND application for HB-700 for the treatment of KRAS mutated cancers and dosed the first person in a Phase 1b clinical trial of HB-500 for HIV treatment, in partnership with Gilead Sciences, resulting in a $5 million milestone payment. The company's...Show More

On August 8, 2024, HOOKIPA Pharma Inc. reported its financial results for the second quarter of 2024 and provided updates on recent business highlights. The company announced positive clinical and regulatory progress for its lead product candidate, eseba-vec (formerly HB-200), and is on track to initiate the Phase 2/3 AVALON-1 study in Q4 2024. HOOKIPA also reported alignment with the FDA for the AVALON-1 trial design and protocol, and the EMA granted PRIME designation for eseba-vec. Additionally, the company received FDA clearance for an IND application for HB-700 for the treatment of KRAS mutated cancers and dosed the first person in a Phase 1b clinical trial of HB-500 for HIV treatment, in partnership with Gilead Sciences, resulting in a $5 million milestone payment. The company's cash position as of June 30, 2024, was $77.4 million, a decrease from $117.5 million as of December 31, 2023, primarily due to cash used in operating activities. Revenue for the quarter was $1.3 million, down from $2.7 million in the same period in 2023, mainly due to lower recognition of upfront and milestone payments from the terminated Roche collaboration. Research and development expenses remained consistent at $19.7 million, while general and administrative expenses decreased to $3.9 million from $4.4 million in the previous year. The company also completed a restructuring plan and effected a reverse stock split to regain compliance with Nasdaq's minimum bid price requirement.