HOOKIPA Pharma Announces Effective Date of 1-for-10 Reverse Stock Split

Core Points - HOOKIPA Pharma Inc. will implement a 1-for-10 reverse stock split effective July 9, 2024, to comply with Nasdaq's minimum bid price requirement [11] - The reverse stock split will reduce the number of outstanding shares from approximately 96.6 million to about 9.7 million [4] - Following the split, the company's common stock will continue trading on the Nasdaq under the symbol "HOOK" with a new CUSIP number [1] Company Overview - HOOKIPA Pharma Inc. is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies based on its proprietary arenavirus platform [12] - The company's pipeline includes investigational immunotherapies targeting Human Papillomavirus 16-positive cancers, KRAS-mutated cancers, and aims to develop functional cures for HBV and HIV in collaboration with Gilead [12] - HOOKIPA's technologies are designed to mobilize and amplify targeted T cells to fight or prevent serious diseases [12] Reverse Stock Split Details - At the effective time of the reverse split, every 10 shares will be combined into one share without changing the par value [8] - Fractional shares will not be issued; stockholders entitled to a fractional share will receive a cash payment [8] - The number of authorized shares will be reduced from 400 million to 40 million, with proportional adjustments made to various stock options and convertible securities [8]