HilleVax(HLVX) - 2025 Q1 - Quarterly Results

HilleVax First Quarter 2025 Financial Results and Company Progress Financial Highlights HilleVax significantly reduced its net loss to $6.1 million in Q1 2025, driven by decreased R&D and G&A expenses, with cash reserves at $159.5 million Cash Position (in millions) | Date | Cash, Cash Equivalents & Marketable Securities | | :--- | :--- | | March 31, 2025 | $159.5 | | December 31, 2024 | $171.4 | Quarterly Expense Comparison (Q1 2025 vs Q1 2024, in millions) | Expense Category | Q1 2025 | Q1 2024 | Change Driver | | :--- | :--- | :--- | :--- | | Research & Development | $2.0 | $26.0 | Lower clinical development costs | | General & Administrative | $5.6 | $8.5 | Lower personnel related costs | Quarterly Profitability (Q1 2025 vs Q1 2024, in millions) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Other Income | $1.5 | $3.0 | | Net Loss | $(6.1) | $(46.8) | Company Overview and Strategy HilleVax, a clinical-stage biopharmaceutical company, focuses on VLP-based norovirus vaccine candidates and is exploring strategic development and business opportunities - HilleVax's core focus is on developing and commercializing novel vaccines, with initial programs HIL-214 and HIL-216 targeting the prevention of moderate-to-severe acute gastroenteritis (AGE) caused by norovirus[4] - The company is actively exploring strategic options, which include the continued development of its norovirus vaccine candidates for adults, business development opportunities, and other strategic alternatives[1] - Norovirus represents a significant global health and economic burden, causing approximately 700 million cases of AGE, 200,000 deaths, and over $64 billion in combined direct and societal costs annually[4] Condensed Consolidated Financial Statements This section presents HilleVax's unaudited condensed consolidated financial statements, including the Statement of Operations and Balance Sheet, for Q1 2025 and 2024 Condensed Consolidated Statement of Operations Data Condensed Consolidated Statement of Operations (in thousands, except per share data) | | Three Months Ended March 31, | | :--- | :--- | :--- | | | 2025 | 2024 | | Operating expenses: | | | | Research and development | $1,983 | $25,978 | | In-process research and development | — | $15,325 | | General and administrative | $5,621 | $8,494 | | Total operating expenses | $7,604 | $49,797 | | Loss from operations | $(7,604) | $(49,797) | | Total other income, net | $1,543 | $2,968 | | Net loss | $(6,061) | $(46,829) | | Net loss per share, basic and diluted | $(0.12) | $(0.97) | | Weighted-average shares outstanding | 49,980,752 | 48,460,185 | Condensed Consolidated Balance Sheet Data Condensed Consolidated Balance Sheet (in thousands) | | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash, cash equivalents and marketable securities | $159,539 | $171,432 | | Total assets | $178,821 | $192,690 | | Total liabilities | $27,908 | $38,204 | | Total stockholders' equity | $150,913 | $154,486 | | Total liabilities and stockholders' equity | $178,821 | $192,690 |