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HOOKIPA Pharma (HOOK) investor relations material

HOOKIPA Pharma Q3 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2024 earnings summary14 Nov, 2024

Executive summary

  • HOOKIPA is a clinical-stage biopharma focused on arenavirus-based immunotherapeutics, with lead programs in oncology and infectious diseases, including eseba-vec for HPV16+ head and neck cancers and partnered HBV/HIV programs with Gilead.

  • Completed enrollment of 68 patients in Phase 2 eseba-vec + pembrolizumab study for HPV+ HNSCC four months ahead of schedule.

  • Presented updated Phase 2 data at SITC 2024 showing durable clinical and antigen-specific T cell responses.

  • Advanced HB-700 KRAS-inhibitor program with strong preclinical data and FDA IND clearance.

  • The company reprioritized its pipeline in 2024, pausing HB-300 and most preclinical work, and implemented two workforce reductions totaling about 50% of staff.

Financial highlights

  • Revenue for Q3 2024 was $4.7M, down from $6.9M in Q3 2023; nine-month revenue rose to $42.6M from $12.7M year-over-year, mainly due to accelerated recognition from the Roche agreement termination.

  • Net loss for Q3 2024 was $13.8M, improved from $19.1M in Q3 2023; nine-month net loss was $18.6M, a significant improvement from $56.8M in the prior year period.

  • Research and development expenses decreased to $15.6M in Q3 2024 from $24.6M in Q3 2023, and to $55.5M for the nine months from $65.3M year-over-year.

  • Cash, cash equivalents, and restricted cash totaled $60.0M as of September 30, 2024, down from $117.5M at year-end 2023.

  • Received a $5M milestone payment from Gilead for HB-500 clinical progress.

Outlook and guidance

  • Management expects continued operating losses and negative cash flows, with substantial doubt about the company’s ability to continue as a going concern for at least 12 months without additional funding.

  • Plans to seek further capital through equity, debt, grants, or partnerships; failure to secure funding may require further cost reductions or program delays.

  • Ongoing review and optimization of business strategy and operations to prioritize resources and spending.

  • Forward-looking statements highlight substantial risks and uncertainties in drug development, regulatory processes, and funding sufficiency.

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Frequently asked questions

HOOKIPA Pharma Inc. is a clinical-stage biopharmaceutical company focused on the development of novel immunotherapies for cancer and chronic infectious diseases. The company utilizes a proprietary arenavirus platform, pioneering technologies that engineer arenaviruses to elicit robust and durable antigen-specific T cell responses and pathogen-neutralizing antibodies. HOOKIPA's innovative approach aims to reprogram the immune system to more effectively combat diseases, with its diverse pipeline addressing significant unmet medical needs in various therapeutic areas. The company is headquartered in New York, and its shares are listed on the NASDAQ.

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