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HOOKIPA Pharma | 8-K: HOOKIPA Pharma Reports Third Quarter 2024 Financial Results and Provides Recent Business Updates

SEC ·  Nov 14, 2024 13:12

Summary by Moomoo AI

On November 14, 2024, HOOKIPA Pharma Inc. reported its financial results for the third quarter of 2024 and provided updates on its business operations. The company, which is developing immunotherapeutics for cancer and infectious diseases, announced the completion of patient enrollment for its Phase 2 study of eseba-vec in combination with pembrolizumab in HPV+ HNSCC. The study was completed four months ahead of schedule with 68 patients enrolled. Additionally, HOOKIPA highlighted the dosing of the first patients in a Phase 2 adjuvant therapy investigator-initiated trial with MSKCC for head and neck cancer. The company also presented preclinical data on its HB-700 KRAS-inhibitor program at the RAS Targeted Drug Development Summit. HOOKIPA's infectious disease programs, HB-400 for HBV and HB-500 for HIV-1, are...Show More
On November 14, 2024, HOOKIPA Pharma Inc. reported its financial results for the third quarter of 2024 and provided updates on its business operations. The company, which is developing immunotherapeutics for cancer and infectious diseases, announced the completion of patient enrollment for its Phase 2 study of eseba-vec in combination with pembrolizumab in HPV+ HNSCC. The study was completed four months ahead of schedule with 68 patients enrolled. Additionally, HOOKIPA highlighted the dosing of the first patients in a Phase 2 adjuvant therapy investigator-initiated trial with MSKCC for head and neck cancer. The company also presented preclinical data on its HB-700 KRAS-inhibitor program at the RAS Targeted Drug Development Summit. HOOKIPA's infectious disease programs, HB-400 for HBV and HB-500 for HIV-1, are progressing through clinical trials in collaboration with Gilead Sciences, Inc. The company received a $5 million milestone payment from Gilead in July 2024. Corporate updates include leadership changes and a reverse stock split to comply with Nasdaq's minimum bid price requirement. HOOKIPA's cash position as of September 30, 2024, was $60.0 million, a decrease from $117.5 million at the end of 2023, primarily due to operating activities. Revenue for the quarter was $4.7 million, down from $6.9 million in the same period in 2023, mainly due to the termination of the Roche collaboration agreement. Research and development expenses decreased to $15.6 million from $24.6 million in the previous year, while general and administrative expenses increased to $6.7 million from $4.9 million. The net loss for the quarter was $13.8 million, an improvement from a net loss of $19.1 million in the third quarter of 2023.

This announcement is a separate document:

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