Summary by Moomoo AI
HOOKIPA Pharma reported Q3 2024 financial results with a net loss of $13.8M, compared to $19.1M in Q3 2023. Revenue decreased to $4.7M from $6.9M YoY due to lower partnering revenues. The company ended Q3 with $60M in cash, down from $117.5M at 2023 year-end.The company achieved significant clinical milestones, completing enrollment of 68 patients in Phase 2 study of eseba-vec plus pembrolizumab for HPV16+ head and neck cancer ahead of schedule. First patients were dosed in a new Phase 2 adjuvant therapy trial at Memorial Sloan Kettering Cancer Center. Additionally, HOOKIPA received a $5M milestone payment from Gilead for initiating HB-500 HIV trial.Operating expenses decreased with R&D costs at $15.6M versus $24.6M YoY, while G&A expenses increased to $6.7M from $4.9M. The company implemented cost optimization initiatives and underwent management changes, including appointing Malte Peters as CEO and Terry Coelho as CFO in July 2024.
