HOOKIPA Pharma Reports Second Quarter 2024 Financial Results and Recent Business Highlights

Core Insights - HOOKIPA Pharma Inc. has made significant progress in its clinical development pipeline, particularly with its lead product candidate eseba-vec, which is on track for a pivotal Phase 2/3 trial initiation in Q4 2024 [1][3][4] - The company has received positive regulatory feedback, including alignment with the FDA for the AVALON-1 trial design and PRIME designation from the EMA for eseba-vec [1][3] - HOOKIPA has also expanded its oncology portfolio with the FDA clearance of its IND application for HB-700, targeting KRAS-mutated cancers [5] Leadership and Corporate Updates - Malte Peters has been appointed as the new CEO, emphasizing optimism about the company's prospects and the strength of its pipeline [2] - The company executed a reverse stock split on a one-for-ten basis to comply with Nasdaq listing requirements [7] Clinical Development Highlights - The Phase 2 data for eseba-vec presented at ASCO 2024 has generated significant momentum, enhancing enrollment in ongoing studies [2][4] - The AVALON-1 trial for eseba-vec is expected to start in Q4 2024, with a focus on HPV16+ recurrent or metastatic oropharyngeal squamous cell carcinoma [3][4] Financial Performance - HOOKIPA reported a revenue of $1.3 million for Q2 2024, down from $2.7 million in Q2 2023, primarily due to the termination of the Roche collaboration [10] - The company's net loss for Q2 2024 was $19.1 million, slightly higher than the $18.0 million loss in the same period of 2023 [14] - As of June 30, 2024, HOOKIPA's cash position was $77.4 million, a decrease from $117.5 million at the end of 2023 [9][16] Research and Development Updates - HOOKIPA is actively enrolling patients in the Phase 1b trial for HB-500, an investigational therapeutic vaccine for HIV, in collaboration with Gilead [6] - The company is also evaluating partnerships for the HB-700 program targeting KRAS-mutated cancers [3][5]