HOOKIPA Pharma(US:HOOK)2024-11-14 21:07Clinical Trials - Enrollment of 68 patients completed in Phase 2 study for eseba-vec + pembrolizumab in HPV+ HNSCC, four months ahead of schedule[1] - First patients dosed in Phase 2 investigator-initiated study for eseba-vec in adjuvant therapy for head and neck cancer[3] - The HB-700 program is ready for Phase 1 trials, targeting KRAS-mutated cancers, with FDA clearance received in April 2024[5] - HOOKIPA received a $5 million milestone payment from Gilead in July 2024 related to the HB-500 clinical trial[12] Financial Performance - Revenue for Q3 2024 was $4.7 million, a decrease of 31.6% from $6.9 million in Q3 2023, primarily due to lower partnering revenues[14] - Net loss for Q3 2024 was $13.8 million, compared to a net loss of $19.1 million in Q3 2023, representing a 27.3% improvement[18] Expenses - Research and development expenses decreased to $15.6 million in Q3 2024 from $24.6 million in Q3 2023, reflecting lower personnel and laboratory-related expenses[15] - General and administrative expenses increased to $6.7 million in Q3 2024 from $4.9 million in Q3 2023, driven by higher personnel-related expenses and consulting fees[16] Cash Position - Cash position as of September 30, 2024, was $60.0 million, down from $117.5 million as of December 31, 2023, primarily due to cash used in operating activities[13] - As of September 30, 2024, cash, cash equivalents, and restricted cash totaled $59,957,000, down from $117,521,000 as of December 31, 2023[24] Assets and Liabilities - Total assets decreased to $109,730,000 from $161,337,000[24] - Total liabilities reduced to $37,928,000 compared to $71,480,000[24] - Total stockholders' equity declined to $71,802,000 from $89,857,000[24] Corporate Actions - A reverse stock split of 1-for-10 was executed on July 9, 2024, to comply with Nasdaq listing requirements[11]